TRADERS FRUSTRATED BY OUTAGES AT SOME ONLINE BROKERAGES

Jan 04, 2018

By Michael Kramer

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Traders using at least two major online discount brokerage platforms are complaining of sporadic outages – and expressing frustration that the latest glitch has tied their hands amidst a broad plunge in marijuana stocks.

Clients of TD Bank’s WebBroker and Royal Bank’s RBC Direct Investing platforms – have taken to social media to complain about problems – after similar issues recently.

A TD spokesman says “unprecedented” trading volume continues to drive some intermittent delays for its online and mobile WebBroker clients – and the bank’s technical teams are continuing to work to resolve the issue.

Several marijuana companies took a major hit Thursday  with shares of Canada’s biggest licensed producer Canopy Growth (TSX;WEED) down as much as 19 per cent – after the Associated Press reported U.S. attorney general Jeff Sessions planned to rescind an Obama-era policy allowing legalized pot to flourish in states south of the border.

At least four cannabis-related firms listed on the Canadian Securities Exchange were temporarily halted Thursday – according to the Investment Industry Regulatory Organization of Canada – due to the single-stock circuit breaker rule which limits sudden price swings of stocks.

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