|Bid||1.7300 x 0|
|Ask||1.7400 x 0|
|Day's Range||1.7000 - 1.9000|
|52 Week Range||1.5000 - 15.5000|
|Beta (3Y Monthly)||4.62|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Democratic presidential candidate Beto O’Rourke is known for voicing his opinion on federal marijuana legalization. He supports marijuana legalization.
Today, the US cannabis markets were trading a little higher than we have seen in the recent past. The Federal Reserve cut interest rates by 25 points.
CannTrust Holdings Inc. (TSX:TRST)(NYSE:CTST), Alcanna Inc (TSX:CLIQ), and Canopy Growth Corp (TSX:WEED)(NYSE:CGC) are showing red flags; therefore, you should avoid the stocks, even at rock-bottom prices.
VAUGHAN, Ont. — CannTrust Holdings Inc. said Thursday that about $1.3 million worth of its products will be returned by the Alberta government's cannabis wholesaler and online retailer.The Alberta Gaming, Liquor and Cannabis agency announced the returns on Wednesday after Health Canada suspended CannTrust's licences to produce and sell pot.CannTrust noted Thursday that Health Canada has not ordered a recall in respect of any of the company's products.But it said that under the terms of its agreement, the goods may be returned for any reason and it will be responsible for the cost of the goods and all expenses related to the return.Meanwhile, PEI Cannabis said Thursday it will not consider re-stocking CannTrust products until the supplier's license suspension is lifted.That follows a decision by the Nova Scotia Liquor Corp., announced Wednesday, to stop selling CannTrust products and to return the product it is holding at its distribution centre.The Ontario government's cannabis wholesaler and retailer said in August it was returning products valued at roughly $2.9 million to CannTrust. This report by The Canadian Press was first published on Sept. 19, 2019.Companies in this story: (TSX:TRST) The Canadian Press
Oppenheimer analyst Rupesh Parikh initiated coverage on Canopy Growth stock. The analyst gave a “perform” rating with no target price.
TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:Toronto Stock Exchange (16,800.29, down 34.46 points.)Encana Corp. (TSX:ECA). Energy. Down 18 cents, or 2.62 per cent, to $6.69 on 9 million shares.Kinross Gold Corp. (TSX:K). Materials. Down 19 cents, or 2.77 per cent, to $6.67 on 7.4 million shares.Crescent Point Energy Corp. (TSX:CPG). Energy. Up two cents, or 0.33 per cent, to $6.07 on 6.5 million shares.Barrick Gold Corp. (TSX:ABX). Materials. Down 50 cents, or 2.09 per cent, to $23.40 on 6.5 million shares.Baytex Energy Corp. (TSX:BTE). Energy. Down one cent, or 0.45 per cent, to $2.20 on 6.2 million shares.Manulife Financial Corp. (TSX:MFC). Financials. Down six cents, or 0.25 per cent, to $24.18 on 5.9 million shares. Companies in the news:CannTrust Holdings Inc. (TSX:TRST). Up two cents to $1.72. The Alberta government's cannabis wholesaler and online retailer is returning products from CannTrust Holdings Inc. after Health Canada suspended the company's licences to produce and sell pot. The AGLC would not confirm the amount or value of the on-hold product to be returned to the Vaughan, Ont.-based company, citing contract confidentiality. The move comes one day after CannTrust disclosed that it received a notice from Health Canada indicating its authority to produce and sell cannabis had been suspended. The Nova Scotia Liquor Corp. also said Wednesday it is no longer selling CannTrust products and it plans to return the product it is holding at its distribution centre.Restaurant Brands International Inc. (TSX:QSR). Down 61 cents to $97.27. Tim Hortons will stop offering its Beyond Meat alternative protein products at thousands of Canadian locations, just three months after introducing them. Parent company Restaurant Brands International Inc. says it is pulling vegetable-based Beyond Burgers nationally and breakfast sandwiches from all locations except in B.C. and Ontario, where the "positive reaction" means customers can continue to enjoy them. The company announced in May it would test its three Beyond Meat breakfast sandwiches at some stores.Air Canada (TSX:AC). Down 61 cents to $43.40. A new report finds that Air Canada lags behind other global airlines in revenue from passenger fees, but is poised to catch up after its recent purchase of the Aeroplan rewards program. The report from airline consulting firm IdeaWorksCompany says the country's biggest airline took in US$1.45 billion in so-called ancillary revenue last year, or about US$28.54 per passenger. The per-passenger figure didn't break the top 10, with U.S. competitors United Airlines Inc. and American Airlines Inc. and Australia's Qantas Airways Ltd. reaping between US$35 and US$42 per traveller in ancillary income.Alimentation Couche-Tard Inc. (TSX:ATD.B). Up 10 cents to $81.07. Alimentation Couche-Tard Inc. wants to be one of the "key players" in the North American cannabis market by using its position in Canada, where recreational pot use is legal, to achieve this goal. But the expertise to be developed by the operator of convenience stores and gas stations will have to be done outside of Quebec because of provincial rules governing the sale of marijuana, company founder and executive chairman Alain Bouchard said following its annual meeting. Unable to penetrate the Quebec market, it has invested in Alberta retailer Fire & Flower. This report by The Canadian Press was first published Sept. 18, 2019.The Canadian Press
The Alberta government's cannabis wholesaler and online retailer is returning products from CannTrust Holdings Inc. after Health Canada suspended the company's licences to produce and sell pot."AGLC will be returning its remaining supply of on-hold CannTrust products to the licensed producer," said the Alberta Gaming, Liquor & Cannabis Commission's spokeswoman Angelle Sasseville in an emailed statement Wednesday.The AGLC would not confirm the amount or value of the on-hold product to be returned to the Vaughan, Ont.-based company, citing contract confidentiality.The move comes one day after CannTrust disclosed that it received a notice from Health Canada indicating its authority to produce and sell cannabis had been suspended.The Nova Scotia Liquor Corp. also said Wednesday it is no longer selling CannTrust products and it plans to return the product it is holding at its distribution centre."This is a decision that had been made prior to the latest Health Canada action," spokeswoman Beverley Ware wrote in an emailed statement.CannTrust has been mired in turmoil since it first disclosed in July that Health Canada had discovered illicit cultivation in several rooms at its Pelham, Ont. greenhouse.The company later voluntarily halted all sales and shipments of cannabis, terminated its chief executive "with cause" and asked its chairman to resign after the board discovered new information during an internal investigation into the incident. CannTrust has also since hired a financial adviser to help explore a potential sale and other strategic alternatives for the company and last month disclosed that the Ontario Securities Commission had opened an investigation.The AGLC had placed a hold on its inventory of CannTrust products in July as a precautionary measure as the federal regulator conducted its probe, but on Wednesday decided to return those goods.CannTrust did not immediately respond to a request for comment on Wednesday on the product returns, but had earlier provided a statement on its suspension."CannTrust's paramount and urgent priority is to satisfy regulators that the company meets or exceeds all regulatory requirements so that the reasons for suspension no longer exist, we are in a position to resume operations and to regain the trust and confidence of our shareholders, patients, customers and partners," interim chief executive Robert Marcovitch said in an emailed statement.Health Canada said late Tuesday that in addition to delivering the notices to CannTrust, inspectors were "seizing and detaining all cannabis products" at the company's sites in Vaughan, Ont. and Pelham, Ont.The regulator said the company can respond to the notification within 10 business days to explain why the suspension is unfounded or provide information that Health Canada should take into consideration in its decision making.Ontario's cannabis wholesaler and retailer, the Ontario Cannabis Store, said in August it was returning products valued at roughly $2.9 million to CannTrust because they were "non-conforming" under the terms of its master agreement with the company.Other provinces say they are not taking any action in response to the suspension.Cannabis NB said it is aware of Health Canada's decision."It's important to remember Health Canada has not issued a product recall," Cannabis NB spokeswoman Marie-Andree Bolduc wrote in an emailed statement. "There are no safety issues with the products currently in the market. No action is required with the existing CannTrust products we have in stock at this time."The B.C. Liquor Distribution Branch's position has not changed, spokeswoman Viviana Zanocco said."Until such time as Health Canada issues a recall or other direction, we will continue to supply CannTrust's product to private and public retail stores," she said in an emailed statement. "We remain in regular communication with Health Canada on this matter."Meanwhile, CannTrust's share price continued to fall after slipping nearly 15 per cent on Tuesday to close at $1.70 on the Toronto Stock Exchange. The shares closed at $6.46 on July 5, before it disclosed Health Canada's findings. CannTrust's stock was trading at $1.63 in early afternoon trading on Wednesday.Douglas Miehm, an analyst with RBC Capital Markets, said as the company looks to get its suspension lifted, it will likely need "significant" improvements in governance, record keeping and inventory tracking while working to recover unlicensed cannabis sold into the market."With ongoing returns and operations at a standstill, the company could face meaningful cash burn over the coming months," he said in a recent note to clients.Media reports have suggested that CannTrust may have potential suitors, but, Miehm sees "few, if any, interested parties as most LPs in Canada generally have or are already building the infrastructure needed to support domestic demand and may not want to deal with the lawsuits facing the company." This report by The Canadian Press was first published on Sept. 18, 2019.Companies in this story: (TSX:TRST)Armina Ligaya, The Canadian Press
Supreme Cannabis (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) has reported its financial results for the fourth quarter and fiscal year ended June 30, 2019. Revenue was C$19.01 million, up from C$3.55 million for the fourth quarter of 2018. Net loss for the quatre was C$421,000, compared to a profit of C$234,000 for the same period last […]The post Cannabis Stock News Daily Roundup September 18 appeared first on Market Exclusive.
FOMC Decision Clouded By Repo Rate Spike The Federal Open Market Committee concludes its two-day meeting today with an announcement as 2:00pm EST regarding its rate target decision. The chances of a rate hike have been declining ever since the oil price spike at the beginning of the week, but fed funds futures are still […]The post Market Morning: Fed Decides In Wake Repo Rate Spike, Saudis Blame Iran, FedEx Falls appeared first on Market Exclusive.
CannTrust reported that its license under the Cannabis Act was suspended. The company won't be able to produce cannabis. Will CannTrust fall below $1?.
CannTrust Holdings Inc.'s licenses to produce and sell cannabis were suspended Tuesday by Health Canada, the latest setback for the pot firm which has been under investigation by regulators for cultivation in unlicensed rooms.The Vaughan, Ont.-based company said it received a notice of licence suspension from the federal regulator indicating its authority to produce cannabis, other than cultivating and harvesting, and to sell cannabis have been suspended.It adds that the notice cites CannTrust's "previous non-compliance with certain requirements of the Cannabis Act."CannTrust said it is facing a partial suspension of its licences for standard cultivation and a full suspension of its licences for standard processing, medical sales, cannabis drugs and research."While the suspension remains in effect, CannTrust will be permitted to cultivate and harvest existing lots or batches previously propagated, as well as conducting ancillary activities to those lots, including drying, trimming and milling," the company said in a release. "During the suspension, CannTrust may not propagate new lots or batches of cannabis or engage in the sale or distribution of cannabis."Health Canada said in addition to delivering notices of suspension to CannTrust on Tuesday, inspectors were "seizing and detaining all cannabis products" at the Vaughan and Pelham sites."Under the terms of the suspension, CannTrust Inc. is permitted to take necessary actions to maintain the viability and quality of cannabis plants and cannabis products while Health Canada reviews any representations from the licence holder," a department spokeswoman wrote in an email.It said the company may respond to the notification within 10 business days to explain why the suspension is unfounded or information that Health Canada should take into consideration in its decision-making."Health Canada will continue to closely monitor actions taken by CannTrust Inc. and will re-assess the status of the company's licence as new information becomes available. Health Canada may also determine that additional compliance and enforcement actions are warranted."Back in July, CannTrust disclosed the federal regulator's findings that the company was growing pot in several rooms at its greenhouse in Pelham, Ont., prior to receiving the appropriate licences from the government.Health Canada has not issued a recall on CannTrust's products but placed a hold on roughly 5,200 kilograms of dried cannabis and CannTrust put a voluntary hold on roughly 7,500 kilograms of cannabis products.CannTrust later voluntarily halted all sales and shipments of cannabis as Health Canada continued its probe into the matter.In late July, the company terminated its chief executive Peter Aceto "with cause" and asked its chairman Eric Paul to resign after the board discovered new information during an internal investigation into the alleged unlicensed pot growing. It also in July hired a financial adviser to help explore a potential sale and other strategic alternatives for the company.Last month, CannTrust said its Vaughan, Ont.-based facility was also found to not be in compliance by regulators. Also in August, the company disclosed that the Ontario Securities Commission had opened an investigation into the issues around the alleged unlicensed growing at its Pelham greenhouse.Earlier this month, CannTrust announced it was laying off about 180 people or roughly 20 per cent of the company's workforce to "reflect the current requirements of our business."CannTrust's shares have lost more than 70 per cent of their value since it first disclosed Health Canada's findings on July 8, and Tuesday's announcement sent its shares down nearly 15 per cent.After being halted for pending news on Tuesday, the stock slipped 14.57 per cent from its previous close of $1.99, to reach $1.70. That marks a nearly 74 per cent drop from its closing price on July 5 of $6.46.CannTrust said on Tuesday that the company's management and board of directors are reviewing the notice from regulators with its counsel and other advisers.CannTrust added that the notice from Health Canada outlined several measures the company could take to address the "public health and safety risks" that contributed to its decision. These included measures to recover cannabis that was not authorized by CannTrust's licence, to control the movement in and out of the company's site, to improve key personnel's knowledge of and compliance with regulations, and a plan to improve inventory tracking, the company said."Over the past two months, the company has moved swiftly to assess and address Health Canada's concerns, including areas of operational non-compliance," it said in the release. "The company remains committed to being in full regulatory compliance." Companies in this story (TSX:TRST)Armina Ligaya, The Canadian Press
(Bloomberg) -- CannTrust Holdings Inc., the beleaguered pot company that’s lost 75% of its value after breaching regulations, had its license suspended by the Canadian government.The company won’t be able to sell or produce cannabis, other than cultivating and harvesting existing plants, CannTrust said in a statement Tuesday. The suspension will remain in effect until it can demonstrate the breaches no longer exist or that the suspension was unfounded.Shares tumbled as much as 17% when they resumed trading following the announcement.The suspension won’t change much in the short term as the Vaughan, Ontario based company had already halted all sales and shipments of its products.Health Canada, the government agency responsible for cannabis regulations, told CannTrust that it could potentially address the suspension by taking measures to ensure pot will be produced and distributed only as authorized and to recover cannabis that wasn’t authorized by the license. It would also need to improve key personnel’s knowledge of and compliance with regulations; and to improve record keeping and inventory tracking.CannTrust’s management and board are reviewing the suspension with counsel and other advisers, the company said.The breaches, which included growing pot in unlicensed parts of its greenhouse in Pelham, Ontario, led to the firing of Chief Executive Officer Peter Aceto and a joint investigation by securities regulators and police. The company has hired Greenhill & Co. to explore potential alternatives, including a sale.To contact the reporter on this story: Kristine Owram in Toronto at email@example.comTo contact the editors responsible for this story: Brad Olesen at firstname.lastname@example.org, ;David Scanlan at email@example.com, Jacqueline ThorpeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Today at 2:10 PM ET, the S&P; 500 Index fell 0.3% as investors watched rising oil prices. The cannabis sector also fell today, as its ETFs traded in the red.
Hunting for a bargain? This group of beaten-down stocks, including CannTrust Holdings Inc. (TSX:TRST)(NYSE:CTST), might provide the value you're looking for.
CannTrust Holding Inc. (TSX:TRST)(NYSE:CTST) is a stock you want to avoid. Read on to know why you should steer clear of the legal weed industry’s black sheep.
Millennials are advised to avoid weed stocks. CannTrust Holdings Inc. (TSX:TRST)(NYSE:CTST), Canopy Growth Corp (TSX:WEED)(NYSE:CGC), and the rest of the cannabis companies are dealing with issues that are affecting the industry as a whole.
If you're holding marijuana stocks like CannTrust Holdings Inc (TSX:TRST)(NYSE:CTST) in your RRSP, you could be in for a rude awakening
Weed stocks have taken a beating since April. Cronos Group Inc (TSX:CRON)(NASDAQ:CRON), Aurora Cannabis (TSX:ACB)(NYSE:ACB), and CannTrust Holdings Inc (TSX:TRST)(NYSE:CTST) are amongst those that have fallen.
On Tuesday, Eight Capital removed its target price for CannTrust Holdings due to uncertainty about the risks involved in the company's future operations.
It'll be a long time before this analyst buys SNC-Lavalin Group Inc. (TSX:SNC) or Baytex Energy Corp (TSX:BTE)(NYSE:BTE) for his portfolio.