15:50:29 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Aurora Cannabis Inc
Symbol ACB
Shares Issued 1,020,378,291
Close 2019-11-20 C$ 3.50
Market Cap C$ 3,571,324,019
Recent Sedar Documents

Globe says Canopy, others may see tax-loss selling

2019-11-20 07:15 ET - In the News

See In the News (C-WEED) Canopy Growth Corp

The Globe and Mail reports in its Wednesday, Nov. 20, edition that although there were plenty of tax-loss candidates when the S&P/TSX Composite Index dropped by 12 per cent in 2018, there are fewer losers this year when the market is up by about 19 per cent. The Globe's Shirley Won writes that many beaten-up names are energy and cannabis stocks. Canopy Growth ($20.31), Aurora Cannabis ($3.11), Cronos Group ($8.89) and Tourmaline Oil ($12.55), which analysts expect to have annual revenue growth of at least 15 per cent, are potential tax-loss prospects because their stocks are off by more than 20 per cent this year, says 5i Research chief executive officer Ryan Modesto. The stock-screen tool he used to find these stocks showed that Canopy expects annual revenue growth of about 56 per cent. If they get unduly beaten up despite having good growth potential, then they "may be names investors want to keep an eye on for an attractive entry point." The deadline to trigger a capital loss is Dec. 27 for the 2019 taxation year. Investors must wait 30 days after selling a stock or an ETF at a loss before they can buy back the security. Otherwise, the Canada Revenue Agency does not recognize the tax loss.

© 2024 Canjex Publishing Ltd. All rights reserved.