Jump to content

Aphria Inc (U.S.) & Aurora Cannabis Inc -(U.S.)


Recommended Posts

Hey gang,

Could you tell me why theses 2 Cannabis stocks are not available on the Share Trading platform.

APHA  ( Aphria)  & ACB (Aurora) both listed on the NYSE now.

They are available on the CFD.

Is it possible to make them available to buy in the share platform?

 

Regards

HT

Link to comment

Got the below mail from IG last night. Very frustrating. I'm sure this will force some people to take a loss. Absolute p**s take.

 

What broker are people looking at taking their stocks to after this? 

 

"Due to the evolving political and regulatory landscape surrounding recreational cannabis-related securities, we have decided to stop offering share dealing on the below cannabis stocks.

Please note that CFD trading and spread betting on cannabis stocks and our soon-to-be-launched Cannabis Index will not be affected. You can continue to access these markets as normal.

Which stocks are no longer available for share dealing?
With immediate effect, you can no longer invest in the following companies and ETFs with IG:
Aphria (US) Aurora Cannabis (US)
Bod Australia Cann Global
CannTrust Canopy Growth (US)
Corbus Pharmaceuticals Creso Pharma
Cronos Group (US) Elixinol Global
eSense-Lab ETFMG Alternative Harvest ETF
HEXO Corp Innovative Industrial Properties
Insys Therapeutics Lifespot Health
New Age Beverages Stemcell United
Tilray
What will happen to my existing shareholdings?
If you are invested in the affected companies with IG, you’ll need to sell your shares no later than 11.59pm UK time on Thursday 23 May 2019. If you have not sold your shares by 12am midnight on 24 May, we will have to sell them on your behalf at the prevailing price and return the funds to you.

Please note that, given the current uncertainty, we cannot transfer your share dealing positions to alternative brokers. We’re sorry for any inconvenience this causes you.
We're here to help
If you have any questions about this or need assistance with your account, our highly trained client services team is available by phone or email 24 hours a day from 8am Saturday to 10pm Friday.

Kind regards

IG"
Link to comment
15 hours ago, LLD said:

Got the below mail from IG last night. Very frustrating. I'm sure this will force some people to take a loss. Absolute p**s take.

 

What broker are people looking at taking their stocks to after this? 

 

"Due to the evolving political and regulatory landscape surrounding recreational cannabis-related securities, we have decided to stop offering share dealing on the below cannabis stocks.

Please note that CFD trading and spread betting on cannabis stocks and our soon-to-be-launched Cannabis Index will not be affected. You can continue to access these markets as normal.

Which stocks are no longer available for share dealing?
With immediate effect, you can no longer invest in the following companies and ETFs with IG:
Aphria (US) Aurora Cannabis (US)
Bod Australia Cann Global
CannTrust Canopy Growth (US)
Corbus Pharmaceuticals Creso Pharma
Cronos Group (US) Elixinol Global
eSense-Lab ETFMG Alternative Harvest ETF
HEXO Corp Innovative Industrial Properties
Insys Therapeutics Lifespot Health
New Age Beverages Stemcell United
Tilray
What will happen to my existing shareholdings?
If you are invested in the affected companies with IG, you’ll need to sell your shares no later than 11.59pm UK time on Thursday 23 May 2019. If you have not sold your shares by 12am midnight on 24 May, we will have to sell them on your behalf at the prevailing price and return the funds to you.

Please note that, given the current uncertainty, we cannot transfer your share dealing positions to alternative brokers. We’re sorry for any inconvenience this causes you.
We're here to help
If you have any questions about this or need assistance with your account, our highly trained client services team is available by phone or email 24 hours a day from 8am Saturday to 10pm Friday.

Kind regards

IG"

OK well that's very disappointing. I'm from Australia so I will have to find a another broker. Anyone have any recommendations ??

Link to comment
Guest DanielaIG

Hi all,

Just to give you some more information about why the decision has been made by IG to stop offering Cannabis stocks for share dealing clients:

IG has become aware of various financial institutions performing reviews of the regulatory and political implications of offering Cannabis stocks in the UK with a recreational link, and because of this and IG's own internal review the stocks listed above are no longer appropriate for IG's risk appetite. 

Therefore there has been a business decision to take action as quickly as possible but within the legal allowances detailed in IG's Customer Agreement. 

Regarding why we can continue to offer these stocks on leverage accounts, the reason is that there is additional certainty with regards to derivatives referencing the underlying stocks, and as IG uses swaps to hedge our clients' leveraged trades with us, we will not be engaged in the physical trading of recreational linked cannabis stocks.

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      22,105
    • Total Posts
      92,968
    • Total Members
      42,489
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    Caspar7
    Joined 02/06/23 15:47
  • Posts

    • Charting the Markets: 2 June Indices rally as US agrees debt ceiling bill. EUR/USD, GBP/USD rally while EUR/GBP stabilises as US debt ceiling bill is passed. And WTI recoups recent losses while gold, silver on track for first weekly advance. Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Friday 02 June 2023               This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.
    • It was a blockbuster number yesterday for the ADP private payrolls, showing 278,000 jobs opened in May, while forecasts had been for 170,000.  Jeremy Naylor | Analyst, London | Publication date: Friday 02 June 2023 IGTV’s Jeremy Naylor suggests a similar upside surprise could see almost 300,000 jobs created under the non-farm payroll count with estimates for 190,000 job creations. The unemployment rate is seen rising one notch to 3.5%. (Video Transcript) NPFs: what to expect Could yesterday's strong private payrolls number from the ADP reading give us an insight into the potential upside risk to today's non-farm payrolls? That report from ADP yesterday showed 278,000 jobs opened in May - forecasts had been for 170,000. Now the NFP expectations, 190,000 job creations are forecast for the month of May proportionately using that ADP surprise. That would mean an upside reading for NFPs close to 300,000. Why the increase? Now, the unemployment rate is seen rising one notch to 3.5%. Why is that rising? When you've got that rise in the number of job creations, the unemployment rate is not taking the same data that the jobs numbers themselves are being produced from average hourly earnings. We're looking there for that to go up 0.3% month-on-month, 4.4% year-on-year, still below the rate of inflation. Now, this chart shows the unemployment rate back to pre-Covid-19 levels. It's clear that jobs have been created at an appreciable rate and this alongside a relatively strong GDP number and inflation coming down, there may yet be a soft landing for the US economy. But if the Federal Reserve (Fed) does continue to raise rates, things may get a little bit more sticky for the economy and a little bit more difficult to predict. This is a comparison of fed funds rates and US consumer price inflation (CPI) since January 2021. So you can see here the rate at which the US central bank has been piling the pressure on the monetary markets with that rise to five and a quarter percent. And at the same time, the CPI number is coming down, which is a good thing, but it's still not down to the 2% level, 4.9% is a long way away still from the 2% target. So the Fed is entitled still to have an excuse to raise interest rates. US dollar basket Let's take a look at what's been happening with the US dollar basket. Yesterday, we saw a pullback coming through as we saw money going into risk assets because of that rubber stamping from the Senate or the vote in the Senate to approve the budget that's now gone for the presidential seal. EUR/USD And we've seen a second day in a row of losses or the euro for the dollar basket as far as the euro/dollar is concerned, bouncing away from that 76.4% retracement. And I think now, you will have been stopped out if you were short on this, you would have been stopped out on this and hopefully you would have got some profits on the way down. So that's where things are ahead of non-farm payrolls out today at 13:30 UK time. And we will be live on the IG platform at 13:25 today.
    • Escalating inflation and burgeoning wages prime the stage for a probable 25bp rate increase from the Reserve Bank of Australia in the upcoming meeting.   Source: Bloomberg   Inflation Wage Consumer price index Reserve Bank of Australia Interest rates Australia  Tony Sycamore | Market Analyst, Australia | Publication date: Friday 02 June 2023  The Reserve Bank Board of Australia is scheduled to meet on Tuesday, the 6th of June, at 2.30 pm in what is expected to be another line ball decision. Last month, the RBA sent ripples through the market, lifting the cash rate by 25bp to 3.85%. Marking the RBA’s eleventh rate increase in a cycle starting last May, it amounted to a cumulative 375bp hike. With inflation having likely peaked, the RBA concluded it remained too high, warranting an additional hike to realign inflation with the target. Governor Lowe's standpoint In a recent statement, Philip Lowe, Governor of the Reserve Bank of Australia, underscored the significance of ushering inflation back on target in a sensible timeframe, hence justifying the Board's decision to implement another uptick in interest rates. "The importance of returning inflation to target within a reasonable timeframe underscored the board's judgement that a further increase in interest rates was warranted." Maintaining its tightening stance, the RBA indicated its willingness to instigate additional rate hikes, contingent on the economy and inflation's trajectory. Lowe emphasised the Board's vigilance over global economic developments, trends in household spending, and inflation and labour market forecasts. "Continued attention will be paid to developments in the global economy, trends in household spending and the outlook for inflation and the labour market." RBA cash rate chart     Source: RBA Market forecasts and the RBA's decisions In the wake of the RBA’s May Board meeting, wages, employment, and retail sales data have come out softer than expected. Bucking the trend of milder data, the Monthly CPI indicator exceeded expectations at 6.8% (vs 6.4% exp). The core measure of inflation, the trimmed mean, lifted from 6.5% to 6.7%. As the monthly CPI indicator is relatively new and this month excluded around 35% of the items in the basket (35% of the basket is surveyed in the second or third month of the quarter), its credibility is less than quarterly inflation numbers. Nonetheless, the re-acceleration in the Monthly CPI indicator will not sit well with an RBA looking for firm signs that inflation is cooling after its record-breaking run of rate hikes. Also, likely to be figuring in the RBA’s considerations, the Fair Work Commission handed down its Annual Wage Review for 2022-2023 this morning. The decision to increase award and minimum wages by 5.7% exceeded market expectations of 5%, came below the 7% the ACTU claimed, and surpassed the 3.5% employers sought. The RBA's predicament and likely decision The RBA has highlighted its focus on wage growth and subdued productivity in recent communiques. “Unit labour costs are also rising briskly, with productivity growth remaining subdued.” Cognizant of the RBA’s predicament of cooling inflation while keeping the economy on an “even keel”, the Australian interest rate market is pricing a ~25% chance of an RBA rate hike next week. However, due to the hotter than expected Monthly CPI indicator and the higher-than-expected rise in the award and minimum wages at the Annual Wage Review, we think the RBA will elect to raise rates by 25bp to 4.10% when it meets on Tuesday.   Source: ASX Summary The Board of the Reserve Bank of Australia has a meeting on the calendar for Tuesday, June 6th, at 2:30 pm. In a decision that's likely to be finely balanced, we anticipate the RBA will opt for a 25bp hike, pushing rates to 4.10%
×
×
  • Create New...