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Offline LibertexTopic starter

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Cannabis stocks trading mixed despite news of Tilray deal


Shares in Canada's major cannabis producers are trading mixed this Friday. Tilray (TLRY) appears to be the worst affected after Thursday's announcement of a CAD 110 million deal to buy head-shop chain Four20, which owns and operates six recreational cannabis stores in Alberta. It is hoped that the acquisition, which will see Tilray buy up all of Four20's issued and outstanding shares, will help the cannabis producer expand its presence within Canada. Tilray will pay CAD 70 million for the shares when the deal eventually goes through at the end of Q1 2020, followed by an additional CAD 40 million "subject to the achievement of certain milestones" by Four20.
Prior to this acquisition, Tilray completed another deal with Authentic Brands Group to supply this latter with CBD for use in products for sale in several major retail chains across the US and Canada.
Despite the positive response to reports of a new deal, the company shares continue to fall and could even drop to the $5.00 mark over the short to medium term. Meanwhile, we could see Canopy Growth (CGC) slide to around $24.00 per unit share, with Cronos Group (CRON) and Aphria (APHA) rising to $11.00 and $7.00 respectively.


Offline LibertexTopic starter

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Cannabis stocks up on sale by Aurora Cannabis of its Green Organic Dutchman holding

Shares in Canada's biggest cannabis producers were up this Friday following Aurora Cannabis's (ACB) decision to sell its 10% stake in Green Organic Dutchman. The deal was done for a price of $3.00 per share, i.e. around 15% lower than the stock's closing price. When the Canadian producer made its original investment in Green Organic Dutchman back in January 2018, it paid just $1.65 a share.
Then, it began selling its shares in October 2018 (for between $5.00-6.00), a programme which it has continued until now.
Elsewhere, the sector also received some negative news in the form of reports from US-based analysts, who estimate that the sector has declined 40-50% from its 2019 highs. The great sell-off began in response to delays in the approval of several mergers and acquisitions scheduled for 2019. This comes after the US Justice Department decided to take a much more aggressive stance in its investigation of any potential anti-trust violations. According to our financial scouts, despite analysts' negative market forecasts, Canadian cannabis stocks could still continue their recent rise. With this in mind, they predict share price increases for Canopy Growth (CGC), Aurora Cannabis (ACB) and Tilray (TLRY) to $27.00, $6-6.50 and $33.00 respectively. Meanwhile, they see Cronos (CRON) up to $12-12.50, with Aphria (APHA) also rising to reach the $7-7.50 mark.

Offline LibertexTopic starter

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European investors to take cue from positive Brexit developments
European investors are expected to remain optimistic over the short to medium term in light of the recent good news regarding the potential outcome of Brexit. Their confidence in the potential to avoid a no deal British departure from the EU has grown amid reports that Northern Ireland's biggest party is finally prepared to make some concessions to the European Union. Although the claims were quickly denied, this was nevertheless interpreted as a signal that there is still some hope of a UK-EU agreement.
Elsewhere, investors are anticipating a positive outcome from the October US-China trade talks, which they believe will finally bring about some sort of deal between the superpowers. And this optimism would appear justified following a fresh relaxation of trade policy from both sides. US President Donald Trump has already announced his willingness to consider a temporary trade agreement with China covering a wide scope of goods.
Trump's comments came after China announced that it was exempting several categories of agricultural products (including soy beans and pork) from the list of US goods subject to tariffs.
The markets received another boost in the form of a sharp uptick in oil prices. Global oil prices were up markedly following a drone attack on infrastructure belonging to KSA oil and gas company Saudi Aramco.
Meanwhile, the ongoing political turmoil in Hong Kong will likely restrain European investors from stronger market activity amid fresh clashes between protesters and their opponents.

Offline LibertexTopic starter

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European investors concerned over US and Chinese economic data
Over the short to medium term, European investors will be taking their lead from recent statistics indicating a slowdown in both the Chinese and US economies. The most likely cause of this current situation is the ongoing trade conflict between the two countries.
Perhaps the most significant development has been the sharp drop in China's manufacturing PMI to 52.8 over the month of October. This is a marked deterioration from September, when the index ended the month at 53.7. Nevertheless, it is still above its key psychological threshold of 50. This comes as most analysts are forecasting a slowdown in the country's services PMI to 53.6.
Meanwhile, the latest GDP data from the US tell a very similar story.
Previously, investor optimism had been maintained by the announcement by White House Principal Deputy Press Secretary Hogan Gidley that the US was still on track to sign the first part of the trade agreement with China despite the collapse of the planned meeting between President Donald Trump and PRC President Xi Jinping following the cancellation of the APEC summit in Chile. However, shortly after Gidley's statement, rumours surfaced suggesting that the agreement would not in fact be signed any time in the near future.
Market participants are also hotly anticipating any new Brexit developments. The EU has already agreed to delay the UK's departure for a further three months (until 31 January 2020), a proposition which British Prime Minister Boris Johnson has accepted, albeit reluctantly.
Elsewhere in the news, the FED's latest interest rates decision was largely anticipated and its effect on investor sentiment was thus minimal. The US regulator decided to cut its base rate to 1.5-1.75% from 1.75-2%. Going forward, investors will be waiting for the minutes of this meeting to be released in the hope that they will shed some light on the FED's future monetary policy direction.


 

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