|Bid||1.5400 x 1800|
|Ask||1.5500 x 1100|
|Day's Range||1.4900 - 1.6000|
|52 Week Range||1.4900 - 11.9740|
|Beta (3Y Monthly)||4.62|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
On Tuesday, Eight Capital removed its target price for CannTrust Holdings due to uncertainty about the risks involved in the company's future operations.
(Bloomberg) -- Air Canada fell as much as 1.5% on Monday after the stock was unexpectedly left out of a reshuffle of the S&P/TSX 60 Index and Kirkland Lake Gold Inc. added instead.Kirkland Lake rose 2.8% at 9:50 a.m. in Toronto after the announcement late Friday; Husky Energy Inc. was removed in the changes. S&P Dow Jones is still set to announce the changes for the TSX composite on Sept. 13.READ MORE: A Hidden Gem May Join The Big Leagues After Canada Index ShuffleThe index changes -- important in the age of passive investing since they drive the composition of exchange traded funds -- may turn out to be the biggest news in what’s expected to be a relatively quiet week. Expect CannTrust Holdings Inc. to be among those ejected from the composite index after it fell beneath its listing price of C$2.50.Kirkland Lake has soared 80% this year amid gold’s safe-haven rally and is up 675% over three years.Air Canada had climbed more than 300% since 2016 and is the best-performing stock in the Bloomberg World Airlines Index this year. The carrier’s performance has been boosted this year by its planned acquisition of tour operator Transat AT, which will accelerate its global presence in the leisure industry.CannTrust, on the flipside, has fallen almost 85% from its 2018 peak. A demotion from the TSX would mean it has spent a mere six months in the index.To be eligible for index inclusion, a stock must have a float-adjusted market cap of greater than 0.04% of the index itself, according to AltaCorp. It should also have a float turnover of more than 0.5 times over the period of the prior year. For a deletion, the stock will have a float weight of less than 0.025% of the index. The measurement period to determine changes is based on volume-weighted trading over the last 10 trading days of August.The conference schmoozefest will continue with Canadian companies presenting across North America: Barclays Global Financial Services Conference, Rodman & Renshaw 21st Annual Global Investment Conference, RBC Global Industrials Conference and BMO Media & Telecom Conference.Here’s a recap of what happened last week:Markets -- Just The NumbersWhile skepticism remains, markets were buoyed by the easing of U.S.-China trade tensions this week. A spate of good economic data up north supported the Bank of Canada’s reluctance to signal a potential interest rate cut when it held interest rates steady. That culminated with a blockbuster 81,100 jobs created last month, Statistics Canada reported Friday. It was the seventh-largest monthly gain in records going back to 1976, and brought gains to 471,300 over the past 12 months, the most in a year since 2003.Chart of The WeekPoliticsPrime Minister Justin Trudeau is expected to kick off Canada’s election campaign over the next week. The federal election is set to take place on Oct. 21.EconomyEconomists will have one eye on August housing starts, expected on Sept. 10, after the Bank of Canada kept rates unchanged in September, in contrast to the rest of the world’s easing trend. Deputy Governor Lawrence Schembri on Thursday noted the domestic economy’s resilience, highlighting the bank’s determination to chart its own course.TrendingInCanada1\. Tennis superstar (and Canadian!) Bianca Andreescu made history and won the US Open in New York last week. And in true Canadian fashion, she apologized to fans of Serena Williams for her win.(Updates with S&P/TSX 60 shuffle announcements, share price)\--With assistance from Madeleine Lim.To contact the reporters on this story: Divya Balji in Toronto at email@example.com;Aoyon Ashraf in Toronto at firstname.lastname@example.orgTo contact the editors responsible for this story: Madeleine Lim at email@example.com, Jacqueline Thorpe, David ScanlanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Cannabis ETFs the ETFMG Alternative Harvest ETF and the Horizons Marijuana Life Sciences Index ETF were up 2.0% and 1.7%, respectively, at 1:20 PM today.
CannTrust (CTST) was hit with selling pressure this morning as its stock declined almost 5%. However, the overall cannabis sector seems to be positive
In the wake of its regulatory scandals, the cannabis sector lagged the equity market in August. YTD, MJ and HMMJ have fallen 3.7% and 1.5%, respectively.
In the latest trading session, CannTrust Holdings Inc. (CTST) closed at $1.67, marking a -1.18% move from the previous day.
Analysts expect OrganiGram to report revenues of 96.9 million Canadian dollars in fiscal 2019 and 206.5 million Canadian dollars in 2020.
Coverage on Cresco Labs has increased from seven analysts in July to nine in August. Six analysts favor a “strong buy,” and three recommend a “buy.”
(Bloomberg) -- Exactly two years after its debut, CannTrust Holdings Inc.’s stock has fallen beneath its listing price of C$2.50.The pot company has lost nearly two-thirds of its value since early July when it revealed it had broken Canadian regulations by growing cannabis in unlicensed areas of its greenhouse in Pelham, Ontario, potentially putting its license at risk.The negative headlines have mounted since then. Chief Executive Officer Peter Aceto was fired and Chairman Eric Paul resigned; a joint task force of securities regulators and police is investigating the company for potential “serious violations of the law”; auditor KPMG LLP withdrew its reports on the company’s year-end and first-quarter results; regulators found further breaches at a second facility in Vaughan, Ontario; and Ontario’s cannabis wholesaler is returning C$2.9 million worth of products at the company’s expense.CannTrust has hired Greenhill & Co. to explore potential alternatives including a sale.The stock fell as low as C$2.45 on Wednesday, down 5.8%. If it ends the day at that level, it would be the lowest close since September 2017. Short interest stood at 8% of the public float on Aug. 20, according to IHS Markit data.CannTrust is in the midst of an “organizational transformation, which has included a number of departures and the reassignment of roles and responsibilities,” company spokeswoman Jane Shapiro said in an email Wednesday.It has appointed Dan Hogan, formerly CEO of luggage and handbag retailer eBags Inc., as head of strategic priorities. Ken Doige has been named vice president of security. Doige was previously vice president of compliance and risk management at cannabis retailer Fire & Flower Holdings Corp.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, Morwenna ConiamFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.