|Bid||3.8400 x 0|
|Ask||3.8500 x 0|
|Day's Range||3.5100 - 4.1300|
|52 Week Range||3.1700 - 15.5000|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Some of the most active companies traded Thursday on the Toronto Stock Exchange:Toronto Stock Exchange (16,494.23, up 10.02 points).Bombardier Inc. (TSX:BBD.B). Down eight cents, or 3.64 per cent, to $2.12 on 9.5 million shares.Barrick Gold Corp. (TSX:ABX). Materials. Up 63 cents, or 2.89 per cent, to $22.46 on 8.4 million shares.Encana Corp. (TSX:ECA). Energy. Down 14 cents, or 2.4 per cent, to $5.70 on 6.2 million shares.Aurora Cannabis Inc. (TSX:ACB). Health care. Down 63 cents, or 6.51 per cent, to $9.05 on 5.9 million shares.New Gold Inc. (TSX:NGD). Materials. Down 11 cents, or 5.64 per cent, to $1.84 on 5.6 million shares.CannTrust Holdings Inc. (TSX:TRST). Health care. Up 10 cents, or 2.67 per cent, to $3.84 on 5.5 million shares.Companies in the news:Aimia Inc. (TSX:AIM). Up seven cents to $3.84. Grupo Aeromexico is reviewing its partnership with Aimia Inc., the latest problem for the loyalty analytics company which is facing a fight with a group of its shareholders. The Mexican airline says it is "re-evaluating all aspects of its customer loyalty strategy." Aeromexico holds a 51.9 per cent stake in PLM Premier which runs Club Premier, the airline's frequent flyer program. Aimia holds the remaining stake.Canadian Natural Resources. (TSX:CNQ). Down 87 cents, or 2.5 per cent to $33.88. The Alberta Liabilities Disclosure Project says the province's largest oil and gas companies are underestimating how much it will cost to clean up thousands of oil and gas wells drilled over past decades. The coalition of landowners, environmentalists and others is unveiling a list of companies and its estimate of how much it would cost each to remediate its properties if it had to be done today. It says those costs are much higher than the companies estimate because they are assuming they will have decades of cleanup time. The coalition says Calgary-based Canadian Natural Resources Ltd. is facing the largest bill at $11.9 billion to clean up 73,000 oil, gas and bitumen wells in Alberta.The Canadian Press
CannTrust Holdings Inc (TSX:TRST)(NYSE:CTST) stock has been in free fall since last week, and things might only get worse from here on out.
Both the TSX and the S&P 500 finished higher Monday, despite the news China’s economy slowed to 6.2% growth in June -- the lowest level in 26 years.
The deepening scandal at CannTrust Holdings Inc. that has put a black eye on Canada’s cannabis sector is not disrupting efforts to legalize the drug federally in the United States, according to analysts at Cowen.
The S&P/TSX Composite Index finished the week of July 8-12 down 0.33%, well below the weekly performance of the S&P 500, which was up 0.23%. More importantly, both the S&P 500 and Dow set all-time records.
Canopy Growth Corp (TSX:WEED)(NYSE:CGC) and the cannabis sector in general could be heavily impacted by two plausible scenarios.
CannTrust Holdings Inc (TSX:TRST)(NYSE:CTST) investors are coming off a rough week and, unfortunately, there's still no guarantee that things won't get worse.
CannTrust messed up big time by violating Health Canada regulations. What should investors do in the wake of the scandal?
Shares of CannTrust Holdings Inc. dropped to their lowest level since 2017 as a crisis stemming from a Health Canada investigation of illegal cultivation at one of its greenhouses continues to spook investors. CannTrust shares closed down more than 17 per cent to $3.34 on the Toronto Stock Exchange on Friday, down sharply from its closing price of $6.46 one week ago before the company disclosed Health Canada's findings involving its Ontario greenhouse. The Canadian cannabis company said Monday it had been notified by Health Canada that the regulator had discovered unlicensed cultivation at its Ontario greenhouse between October 2018 and March 2019, before the five rooms received the appropriate licences in April 2019.
Yesterday, CannTrust (CTST) hinted at a big problem that not enough people are talking about, and it's suspending its cannabis sales.
(Bloomberg) -- CannTrust Holdings Inc. tumbled another 17% Friday after the Canadian pot company halted sales of its products while its chief executive officer said regulators are inspecting a second facility.CannTrust shares have lost 48% since the beginning of the week, when it disclosed that Canadian regulators gave a non-compliant rating to its greenhouse in Pelham, Ontario. In an unannounced inspection, regulators found the company grew pot in unlicensed rooms, provided “false and misleading information” to inspectors and had inadequate record keeping, according to Health Canada spokeswoman Tammy Jarbeau.Now regulators are also inspecting CannTrust’s facility in Vaughan, Ontario after the company “voluntarily brought forward a handful of compliance issues,” including with storage, CEO Peter Aceto said in a phone interview.“We’re growing very, very rapidly and we just need to make sure that cannabis is in properly licensed rooms, so we voluntarily disclosed some minor issues with regards to that,” he said.The stock fell to C$3.34 Friday in Toronto, and has dropped for seven straight sessions. The fallout also hit the cannabis sector as a whole, with the Horizons Marijuana Life Sciences Index ETF down 4.5% to the lowest since Jan. 8. Canopy Growth Corp. lost 8%, while Cronos Group Inc. fell 6.2% and Hexo Corp. slid 5.4%.CannTrust said Thursday night that it’s put a voluntary hold on the sale and shipment of all its medical and recreational products. It’s also appointed a special committee of the board, comprised of independent directors, to investigate the breach.Aceto said the company is working to source third-party supply for its medical patients and is working to figure out exactly what went wrong with the help of the special committee and an external firm.“We are in a situation that no one wishes to be in,” he said. “Our focus has got to be getting to the root cause, finding out exactly what happened, and I think this independent committee, this external firm is really going to help us get to the bottom of things with urgency.”Aceto said one person has been fired since the revelation. Now he’s focused on getting back into compliance as quickly as possible. Canadian law gives Health Canada a number of ways to respond to non-compliance, including “suspension or cancellation of a federal license” or the issuance of a fine up to C$1 million, Jarbeau said in an email.“I think that a license suspension is possible,” said Charles Taerk, chief executive officer of Faircourt Asset Management, which runs the cannabis-focused Ninepoint Alternative Health Fund. Taerk reduced his holdings of CannTrust to less than 1% of his portfolio after the company’s last quarterly earnings report, and sold the remainder of his position on Tuesday.“We had removed CannTrust from our top 10 two months ago, not because of this issue but because of other operational issues we were concerned about,” Taerk said in a phone interview, citing the company’s weak results and the lack of answers from management. “Where there’s smoke there’s fire sometimes, and people didn’t pay attention to that.”CannTrust’s voluntary hold on sales and shipments is likely to last into late July “at a minimum,” said Eight Capital analyst Graeme Kreindler, who downgraded the stock to sell from neutral and cut his price target to C$4 from C$6.“The possibility of a license suspension remains real; however, it is highly uncertain at this time,” Kreindler wrote in a note. “In the event of a suspension, we believe that TRST’s cash position could sustain the company for a period of approximately 12 months considering last quarter’s operating burn was $19 million.”(Updates with CEO quotes and share move)To contact the reporter on this story: Kristine Owram in Toronto at firstname.lastname@example.orgTo contact the editors responsible for this story: Brad Olesen at email@example.com, David Scanlan, Stephen WicaryFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Looking for big upside? This group of beaten-down penny stocks, including Bombardier, Inc. (TSX:BBD.B), might provide the pop you're looking for.
Overall, the cannabis sector was weak in the first ten days of July. There was a stream of negative news about the sector. Earlier this week, CannTrust (CTST) reported that Health Canada found non-compliant operations at one of its facilities. According to the press release issued by CannTrust, the company was growing cannabis in rooms […]
CannTrust Holdings Inc. says it has put a hold on product sales and shipments of all its cannabis products as a precaution while Health Canada reviews its Vaughan, Ont., manufacturing facility. CannTrust said Monday it had been notified by Health Canada that the regulator had discovered unlicensed cultivation at its Ontario greenhouse between October 2018 and March 2019, before the five rooms received the appropriate licences in April 2019. It said as a result, Health Canada put on hold roughly 5,200 kilograms of CannTrust products from that facility, and the licensed producer put a voluntary hold on an additional 7,500 kilograms of pot products which were also linked.