- Robinhood has actually suspended brand-new purchasing of Aurora Marijuana through its platform, the brokerage stated Wednesday.
- ” This is taking place due to the fact that there’s restricted assistance at execution places for the big volume of ACBFF orders we have actually gotten,” it informed users who own shares.
- Marijuana stocks are amongst the most popular on the brokerage, exceeding numerous tech names, as they continue to strike fresh highs.
- Follow Aurora Marijuana in real-time here.
Marijuana financiers on Robinhood awakened to a surprise Wednesday early morning: the zero-fee trading app has actually suspended brand-new purchasing of Aurora Marijuana, among the highest-valued and most-popular cannabis stocks.
” This is taking place due to the fact that there’s restricted assistance at execution places for the big volume of ACBFF orders we have actually gotten,” Robinhood informed users who own shares of Aurora. “We value your understanding and wish to re-enable buy orders for ACBFF in the future.” ACBFF is an over the counter (OTC) market ticker that enables United States financiers to purchase the Canadian stock, which sells Toronto.
A Robinhood representative decreased to comment even more on the concern, however keeps in mind users can still hold and offer their existing positions.
Since Wednesday early morning, more than 81,000 financiers held Aurora Marijuana shares through Robinhood, the brokerage’s site programs, making it the 16 th most-popular stock on the platform. Other marijuana business like Cronos Group and Tilray are likewise on the most-popular list, and do not seem experiencing comparable problems.
Aurora shares were quickly stopped on the Toronto Stock Market Tuesday, following a query by the Financial investment Market Regulatory Company of Canada into reports that the business remained in talks with Coca-Cola to produce a CBD-infused drink Those reports sent out the stock skyrocketing by more than 20% on Monday.
” The Business does validate that it participates in exploratory conversations with market individuals from time to time,” Aurora stated in reaction to the questions. “At this time the Business verifies there is no contract, comprehending or plan with regard to any collaboration with a drink business.”
Aurora did not react to an ask for remark about Wednesday’s trading problems.
It’s not unusual for Robinhood to limit trading to secure its users from scams and adjustment. Last month the business limited trading of MoviePass’ moms and dad business Helios & Matheson to secure consumers “from the threats related to some inexpensive stocks.”
Aurora Marijuana shares are up more than 300% in the previous year.