The cannabis sector looked like it was ready to come roaring back to life to start 2020. But long before the coronavirus began sweeping through the world, Aurora Cannabis (NYSE:ACB) and its peers were feeling the selling pressure. Aurora stock now trades for less than a buck, causing investors to wonder what's next.Source: Shutterstock I have not been a fan of Aurora stock for some time. Once support failed in the summer, there was no reason to be long this name. I didn't like it in August or in December, and wasn't surprised when it hit new lows in February.Aurora's main problem is similar to many of its peers: it doesn't have strong enough fundamentals to back up its valuation. When the financials aren't the catalyst, a stock needs strong technicals for the bulls to have a chance. But once support gave way, ACB has done nothing but move lower and...
(Bloomberg) -- With just one tweet, U.S. President Donald Trump conjured up the prospect of a global oil alliance to rescue the industry from the worst shock in history. The question is whether it evaporates just as quickly.After the president’s social-media intervention on Thursday, oil traders are frantically assessing whether Saudi Arabia, Russia and possibly even the U.S. -- the world’s three biggest producers -- are poised to strike a once-unthinkable grand bargain to cut daily supplies in unison by 10 million to 15 million barrels.It’s unclear whether it’s feasible -- or even legal -- for such a coalition to come together. Or indeed whether it would be enough to tame the tsunami of unwanted crude now bearing down on world markets, which could be two to three times bigger than the cut touted by Trump.“It’s too little, too late,” said Ed Morse, head of commodities research at Citigroup Inc. “Cuts...
Jim Cramer said on CNBC's "Mad Money Lightning Round" AbbVie Inc (NYSE: ABBV) traded lower on COVID-19, but he likes its dividend yield and it remains a great stock. It's a big position for his charitable trust fund.Clarivate Analytics PLC (NYSE: CCC) is a research company, but Cramer hadn't thought of it as a COVID-19 play. He needs to do more research to see if it is worth buying on that.Cramer is a buyer of Domino's Pizza, Inc. (NYSE: DPZ). He believes the company has a great delivery, which makes it a terrific investment.There is too much supply in the oil and gas pipelines sector, thinks Cramer. He doesn't like pipelines and natural gas anymore and he doesn't like Kinder Morgan Inc (NYSE: KMI).See more from Benzinga * RNC Genter Capital CEO Likes Tech, Health Care, Financials In Volatile Market(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved....
(Bloomberg Opinion) -- Banks insist they’re in much better shape than they were during the run-up to the 2008 financial crisis. This time, as the coronavirus lockdowns wreck output, lenders can be “doctors of the economy,” in the words of one industry executive. True, banks have much larger capital buffers and better access to funding than was the case 12 years ago. How smart they've been at running their trading businesses remains to be seen.Some of Europe’s biggest banks have gone into the worst economic contraction since the Second World War sitting on huge piles of complex, risky trades whose fair value is hard to determine. These are the so-called Level 2 and Level 3 assets, the types of instruments that blew up in 2008.Valuations of Level 2 assets — mainly over-the-counter derivatives and illiquid stocks — are derived from using observable external measures, such as the price of similar instruments traded in the market....
