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http://www.citynews.ca/2016/11/16/canadian-marijuana-stocks-briefly-halted-huge-spikes-wednesday/
What goes up, must come down.
That was the theme during a wild day of trading in Canada’s marijuana industry.
First, a meteoric rise early Wednesday led to a brief trading halt in several marijuana stocks after huge spikes tripped a circuit breaker.
Single-stock circuit breakers are used to help control short-term volatility and can be triggered when there’s a sudden, dramatic shift in a stock.
Along with Canopy, Aphria Inc., Mettrum Health Corp., Organigram Holdings Inc., Supreme Pharmaceuticals Inc., and Aurora Cannabis Inc. were also affected.
Normal trading resumed for each stock after respective five-minute halts.
But later Wednesday stocks were halted again after a rapid sell off.
The Investment Industry Regulatory Organization of Canada (IIROC) says it “can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market.”
Looming legalization in Canada, as well as legalization for medicinal and recreational purposes in several U.S. states is driving stock prices in the emerging industry.
What goes up, must come down.
That was the theme during a wild day of trading in Canada’s marijuana industry.
First, a meteoric rise early Wednesday led to a brief trading halt in several marijuana stocks after huge spikes tripped a circuit breaker.
Single-stock circuit breakers are used to help control short-term volatility and can be triggered when there’s a sudden, dramatic shift in a stock.
Along with Canopy, Aphria Inc., Mettrum Health Corp., Organigram Holdings Inc., Supreme Pharmaceuticals Inc., and Aurora Cannabis Inc. were also affected.
Normal trading resumed for each stock after respective five-minute halts.
But later Wednesday stocks were halted again after a rapid sell off.
The Investment Industry Regulatory Organization of Canada (IIROC) says it “can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market.”
Looming legalization in Canada, as well as legalization for medicinal and recreational purposes in several U.S. states is driving stock prices in the emerging industry.
