2019: Can I buy Canadian stocks on WellsTrade? Does Wells Fargo offer trading penny stocks, medical marijuana stocks (Aurora Cannabis, Canopy Growth, Cronos, Tilray) from Toronto Stock Exchange?

Does WellsTrade Offer Canadian Stocks?

If you’re looking for a place to trade Canadian or cannabis stocks, Wells Fargo’s online discount broker WellsTrade has some tools to help you narrow down your selection. We found some medical marijuana companies trading on its platform, and the broker doesn’t charge anything extra to trade these securities.


Buy Canopy Growth on Wells Fargo


Canadian Equities at WellsTrade

If you don’t have any specific company in mind yet, the best place to start on the WellsTrade site is the stock screener. It does offer the ability to search by exchange, but unfortunately, the only three choices are American ones. OTC exchanges are not on the list, either. This leaves American Depository Receipts trading on the major three U.S. exchanges. Thankfully, there are many Canadian firms that have ADR’s in these marketplaces.

Take Barrick Gold Corp as one example. We found this company using WellsTrade’s stock screener. We selected “Gold” under “Industry” and received 116 results. The screener doesn’t state the country of origin; so you need to have a pretty good idea of where the companies are located while you’re looking through the results.


Cannabis Companies

We also figured out how to look for companies engaged in the manufacture of medical marijuana. Under the “Industry” menu, we selected “Drug Manufacturers – Specialty & Generic.” This produced a list of 75 results. Here we found several Canadian cannabis firms. For example, we found Aurora Cannabis, The Cronos Group, Tilray, and Canopy Growth.


Buy Cronos on Wells Fargo


Aurora Cannabis is available through the WellsTrade platform. It has an average volume of 11.57 million shares and a 52-week range of $4.05 to $12.53. This is a pretty large range, which implies high volatility and a lot of interest (and uncertainty).


Buy Aurora Cannabis on Wells Fargo


A simple graph is displayed on the ADR’s research page. A more sophisticated chart is available. Although the second chart can’t be displayed full screen (like the first), it does provide technical indicators, drawing tools, multiple graph styles, and comparisons.

We didn’t find any stock reports for this company, and that’s a disappointment. Other brokers do sometimes offer third-party analysis free of charge. Although some of Canada’s medical marijuana companies are rather small in terms of number of employees and revenue, they are covered by some security analysts. For example, E*Trade offers stock reports on some cannabis companies.

Although we didn’t find stock reports on ACB, we did find vital trade data. For example, Aurora has a market cap of $4.9 billion, a P/E ratio of 25.34 (not bad), and positive earnings for three of the past four quarters (not bad, either).


Competitors

Ally Invest offers much lower commissions than E*Trade and the same selection of cannabis and Canadian stocks.


A Suggestion for Trading Canadian Equities at WellsTrade

Although it’s possible to find Canadian stocks on WellsTrade’s site, there are disadvantages for starting on the broker’s platform. There is no ability to search on over-the-counter exchanges, as we already noted. Because many Canadian firms trade OTC, this is a significant drawback. There is also no ability to search specifically for ADR’s.

One way around this is to start your research off of WellsTrade’s platform and then bring some ticker symbols with you.


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