NCLS stock, which is up 2.4% this morning, is down 4.3% for the week, its worst weekly loss in six years.
Shares of the Canadian Life Insurance company dropped 8.8% in early trading on Wednesday morning, its first weekly loss since mid-May.
The stock has seen a record number of losses this year, and analysts say this could lead to a second one soon.
NCLP stock, the stock that is down 3.3%, is down 5.4%, and has fallen to an all-time low in its last month of trading.
AAP reports that the two stocks have traded together at $15.20 per share since the end of March.
The two stocks are also trading at a record low.
“This is not good,” said Jeff Poynton, senior analyst at Wedbush Securities.
I would not be surprised to see them trading lower in the coming weeks.” “
They are now down a staggering $4.7 billion.
I would not be surprised to see them trading lower in the coming weeks.”
This week’s stock markets turmoil is also putting a crimp on the stock market.
The Dow Jones Industrial Average is down 12.7% this week, and is the worst performer on the S&P 500.
The Nasdaq Composite is down nearly 30% this year.
And the Russell 2000 is down 16.6%.
For all the turmoil, there is still plenty of optimism for Canada’s economy.
The Canadian economy is expected to expand 2.6% this fiscal year, which will be the strongest on record, according to the Canadian Council of Chief Executives.
In the short term, that should help, said Tim Scott, senior economist at the Bank of Montreal.
“But the big picture is that this is a slow recovery from a severe recession.
It’s going to take a lot of sustained growth to get us back on track.”
Scott says there are a lot more important issues that need to be addressed.
“The one thing that is most important is the housing market,” he said.
“There is still a lot that needs to be done to get Canadians out of poverty.”