Over to you TD
Multiple retail investors say that one of Canadas largest banks is no longer allowing them to short cannabis stocks directly through its self-directed brokerage. The Financial Post spoke with four retail investors who said they placed calls to the Bank of Montreals InvestorLine brokerage in an attempt to either open a short position on a cannabis company or inquire about how to do so between Friday and Wednesday morning and were turned away by traders. Each of the four InvestorLine clients, who did not wish to be named, said BMO traders would not open short positions on the particular cannabis stock they were interested in. When they asked if that applied to the sector as a whole, they said they were told shorting would not be possible for any cannabis stock. One of the four also attempted to open a short position on InvestorLines online platform, but said that the order was cancelled minutes later in a phone call from an InvestorLine representative. They said from a risk perspective, its too volatile, one retail investor told the Post.