I was thinking of selling and then buying the dip this morning but decided to HODL! Soon, of course, TD croaked again:
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 again taken to social media to gripe about problems, after facing similar issues in recent days.
A TD spokesman says "unprecedented" trading volume continues to drive some intermittent delays for its online and mobile WebBroker clients, and the bank rolled out a broad update on Tuesday night to increase the platform's capacity.
Apparently that increase wasn't enough. Canada is six months away from the legalization of recreational marijuana. If the online platforms of the two largest banks are already melting down, then what will happen as the hype and volume increases when we approach July?
The big, upcoming news stories are the MOUs from the three big provinces. Ontario, Quebec, and British Columbia will sign supply deals with the major firms (Canopy, Aurora, and Aphria). Those events will cause a huge spike in volume.
Are you ready RBC? Are you ready TD?