Canadian Market Slightly Weak In Cautious Trade

(RTTNews) - After edging up marginally in opening trades, the Canadian market slipped into the red Friday morning, and remains weak in early afternoon trades.

Information technology and healthcare shares are weak. Real estate and consumer staples shares are among the other prominent losers. A few stocks from the financial section are moving up, while shares from the rest of the sectors are mostly sluggish.

The benchmark S&P/TSX Composite Index is down 25.39 or 0.13% at 20,189.73. The index, which advanced to 20,240.23, slipped to a low of 20,146.40 subsequently.

BlackBerry (BB.TO), down more than 7%, is the biggest loser in the technology space. The stock is down despite the company posting better than expected first quarter results. A rating downgrade of the stock is triggering a sell-off at the counter.

BlackBerry posted first-quarte revenue of $174 million, down 15.5% from a year ago, and off 17.1% sequentially. The company lost 5 cents a share on a non-GAAP basis, in line with expectations.

Hut 8 Mining Corp (HUT.TO) is down 5.8% and Shopify Inc (SHOP.TO) is lower by about 2.2%. Alithya Group (ALYA.TO) and Lightspeed Pos (LSPD.TO) are down 1.4% and 0.9%, respectively.

Healthcare stocks Organigram Holdings (OGI.TO), Aurora Cannabis (ACB.TO) and Tilray Inc (TLRY.TO) are down 4.2%, 2.8% and 2.7%, respectively. Cronos Group Inc (CRON.TO) is lower by about 1.6%.