1.3200 +0.01 (0.76%)
After hours: 7:59PM EDT
|Bid||1.2900 x 27000|
|Ask||1.3300 x 800|
|Day's range||1.2700 - 1.3400|
|52-week range||0.7730 - 10.1700|
|Beta (3Y monthly)||4.45|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Today CannTrust Holdings is trading at $1.30 on the NYSE, 25.60% higher than its last closing price. It's risen even faster on the Toronto Stock Exchange.
With a boost from Aphria’s (APHA) impressive first-quarter earnings, cannabis stocks and ETFs were trading higher today. Let's take a closer look.
The broader US markets were relatively flat today. Weakness in the cannabis sector continued, with the ETFMG Alternative Harvest ETF down 0.4%.
Health Canada had frozen over half of CannTrust's stock of marijuana and the company had earlier estimated its inventory and assets impacted by regulatory issues to be about C$51 million. The Canadian health regulator canceled CannTrust's license to produce and sell cannabis in September, months after it found the company was illegally cultivating pot. The Ontario-based company said its plan to regain regulatory compliance includes measures to recover cannabis that was not authorized by CannTrust's license and improve its inventory tracking.
VAUGHAN, ON , Oct. 14, 2019 /CNW/ – CannTrust Holdings Inc. ("CannTrust" or "the Company", TSX: TRST, NYSE: CTST) announced that it continues to make significant progress on its commitment to take any and all actions required to both bring the Company into full regulatory compliance and seek the full reinstatement of its licenses. On September 17, 2019 , CannTrust announced that Health Canada had suspended the Company's licenses to produce cannabis and sell cannabis, without affecting the Company's ability to continue cultivating and harvesting cannabis.
VAUGHAN, ON , Oct. 10, 2019 /CNW/ - CannTrust Holdings Inc. ("CannTrust" or the "Company", TSX: TRST, NYSE: CTST) today is providing a status update in accordance with its obligations under the alternative information guidelines set out in National Policy 12-203 – Management Cease Trade Orders ("NP 12-203"), which require the Company to provide bi-weekly updates until such time as the Company is current with its filing obligations under Canadian securities laws. As previously announced, the Company is subject to a management cease trade order ("MCTO") issued by the Ontario Securities Commission. The MCTO prohibits the directors and executive officers of the Company from trading in or acquiring securities of the Company until two full business days after the Company files an interim financial report for the three and six month periods ended June 30, 2019 , an interim management's discussion and analysis for the corresponding period and certifications of interim filings.
Today, President Trump announced that a US-China trade deal could happen earlier than expected. Equities were up, but cannabis stocks were mixed.
CannTrust (CTST) (TRST) was one of the worst performers in the cannabis sector last week. The stock lost almost 19.6% in one week alone.
GW Pharmaceuticals (GWPH) wins EU approval for Epidyolex as an adjunctive treatment of seizures associated with Lennox-Gastaut syndrome or Dravet syndrome in patients aged two years and above.
The cannabis industry has been on a rollercoaster ride this year. CannTrust, Tilray, and KushCo stocks have fallen more than 40% in 2019.
Today, the US cannabis markets were trading a little higher than we have seen in the recent past. The Federal Reserve cut interest rates by 25 points.
Oppenheimer analyst Rupesh Parikh initiated coverage on Canopy Growth stock. The analyst gave a “perform” rating with no target price.
VAUGHAN, ON , Sept. 19, 2019 /CNW/ - CannTrust Holdings Inc. ("CannTrust" or the "Company", TSX: TRST, NYSE: CTST) has received notice from the Alberta Gaming, Liquor and Cannabis Commission (the "AGLC"), the Crown corporation in charge of wholesale distribution of cannabis products to licensed cannabis retailers in Alberta , advising the Company that the AGLC has determined that the Company's products sold to the AGLC will be returned to the Company pursuant to the terms of the Cannabis Supply Agreement between the Company and the AGLC (the "Supply Agreement"). Under the terms of the Supply Agreement, goods sold to the AGLC may be returned to the Company for any reason and the Company will be responsible for the cost of the goods and all expenses related to the return.
CannTrust reported that its license under the Cannabis Act was suspended. The company won't be able to produce cannabis. Will CannTrust fall below $1?.
The company had delayed its second-quarter results last month awaiting a decision from Canada's health regulator on a large amount of inventory put on hold after discovery of illegal cultivation by the company. Last month, Health Canada found fault with cannabis production at a second CannTrust Holdings Inc facility, a month after the regulator froze sales of several tonnes of marijuana grown at another one of its Ontario operations. CannTrust has since fired Peter Aceto as chief executive officer, while Eric Paul resigned as chairman.
VAUGHAN, ON , Sept. 17, 2019 /CNW/ - CannTrust Holdings Inc. ("CannTrust" or the "Company", TSX: TRST, NYSE: CTST) announced that it received late this morning a Notice of Licence Suspension (the "Notice") under section 64(1) of the Cannabis Act ( Canada ). The Notice cites the Company's previous non-compliance with certain requirements of the Cannabis Act ( Canada ) and the regulation made thereunder (the "Cannabis regulations") in respect of the matters that the Company has been discussing with Health Canada. The Notice states that Health Canada has suspended CannTrust's authority to produce cannabis, other than cultivating and harvesting, and to sell cannabis.
Today at 2:10 PM ET, the S&P; 500 Index fell 0.3% as investors watched rising oil prices. The cannabis sector also fell today, as its ETFs traded in the red.
On Tuesday, Eight Capital removed its target price for CannTrust Holdings due to uncertainty about the risks involved in the company's future operations.