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

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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

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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"

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I'll be shifting to HL.  Out of principal, I'm going to shift all of my trading there, not just the cannabis stocks.

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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 ??

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Anyone know if other platforms are doing the same ?

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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.

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