Date: Dec 17, 2018
Shares of Prophecy Development Corp. (TSE:PCY) last traded at 0.3, representing a move of -4.76%, or -0.015 per share, on volume of 285,269 shares. After opening the trading day at 0.32, shares of Prophecy Development Corp. traded in a close range. Prophecy Development Corp. currently has a total float of 92.92M shares and on average sees 1.04 million shares exchange hands each day. The stock now has a 52-week low of 0.11 and high of 4.47.
What Drives The Canadian Economy?
Canada is an important aspect of the North American economy. While the US is relatively bigger, it still has interesting potentials to drive economic growth in the region.
With a thriving equity market, any nation has the capacity to carry out long-term prospects. In Canada, for example, there is the Toronto Stock Exchange (TSX). The benchmark index is the S&P/TSX Composite Index, replacing the TSE 300 Index.
Facts About the S&P/TSX Composite Index
The S&P/TSX Composite Index is a free-float market-capitalization-weighted index like most leading indices in the world. This means that its components are the most actively traded stocks on the TSX, excluding those that are held by inside traders, venture capitalists, and government entities. Stocks held by these stakeholders are not frequently traded, which is why it is useless to include them on indices. Prophecy Development Corp. is one of the stocks traded on it.
The S&P/TSX Composite Index had recorded its all-time high of 15,657.63 in September 2014, thanks to the gains in crude oil prices that primarily led the surge in the Energy and Financials sectors’ the two biggest sectors on the weighted index. Meanwhile, it had recorded its all-time low of 217.50 in February 1950. As of October 31, 2014, more than 1,500 companies are listed on the TSX. By the end of May, the TSX already had a market capitalization of $2.78 trillion. The regular trading session on the TSX begins at 9:30 a.m. and ends at 4:00 p.m. There is also a post-market session that lasts from 4:15 p.m. until 5:00 p.m.
What Makes Up the S&P/TSX Composite Index
There are numerous requirements in order for companies to be included in the S&P/TSX Composite Index. For starters, of course, they need to be listed on the TSX. Consequently, they must operate in accordance to all existing Canadian corporate laws. As Prophecy Development Corp. is still listed, this means that the stock complies with all laws.
