Earlier this week Cantor Fitzgerald analysts initiated coverage of Aurora Cannabis (ACB), issuing a “neutral” rating to the stock. Meanwhile, the Canadian company has been announcing moves in the U.S. and Mexico. Company executives also made headlines this week by mispronouncing one of their flagship brands named after the California town, San Rafael. Whether this was a well-orchestrated publicity stunt, or a genuine faux pas, it illustrates a broader trend taking place within the company. Aurora cannabis can’t count on the Canadian market alone if it wants to be profitable.…
Category: Market News
Direxion Debuts 3X High Beta, Internet Stock ETFs
Direxion debuted four new 3X leveraged ETFs on Thursday designed to be a dynamic way for tactical traders to gain access to key parts of the equity market that either systematically look to capture a high volatile basket or to take advantage of the internet industry’s potential for booms and busts. The Direxion Daily S&P 500® High Beta Bull and Bear 3X Shares (NYSEArca: HIBL/HIBS), and the Direxion Daily Dow Jones Internet Bull and Bear 3X Shares (NYSEArca: WEBL/WEBS) seek to achieve 300%, or 300% of the inverse, of the…
ProShares Adds Pair of New ETFs to its Dividend Growth Suite
ProShares added two new ETFs to its dividend growth suite on Thursday, one focusing on U.S. technology and the other on the Russell 3000, which represents the total U.S. market. With eight ETFs—including its flagship fund NOBL—and over $7 billion in assets under management as of November 7, 2019, ProShares’ dividend growth ETF lineup is the largest of any ETF provider. The expansion of the lineup reflects ProShares’ belief in the value of dividend growth strategies for long-term investors. Michael Sapir, co-founder and CEO of ProShare Advisors, LLC, the advisor to ProShares,…
Turkey ETF Still Vulnerable to Risks of US Sanctions
Turkey country-specific ETF could continue to weaken as the country’s military actions into Syria persist if U.S. congressional leaders enact sanctions that would further weaken the lira currency and drag on the developing economy. The iShares MSCI Turkey ETF (TUR B+) was flat Thursday after breaking below its long-term support at the 200-day simple moving average in the previous session. The lira currency, which previously suffered through a crisis a year ago partly as a result of U.S. sanctions and tariffs, dipped to its weakest level in almost four months…
Financial Sector ETFs May Not Like What’s Coming in This Earnings Season
With Wall Street banks to kick off the upcoming earnings season, financial sector exchange traded fund investors shouldn’t keep their hopes too high as many expect weak results following the round of interest rate cuts. The Financial Select Sector SPDR (NYSEArca: XLF), the largest financial services ETF, has increased 16.4% year-to-date. Observers warned that poor net interest margins among the biggest U.S. banks could cause the sector’s first year-over-year earnings per share decline in three years, Reuters reports. While mortgage banking and cheap valuations could provide some support to U.S.…