|Bid||2.7600 x 0|
|Ask||2.8000 x 0|
|Day's Range||2.6600 - 2.8300|
|52 Week Range||2.4500 - 15.5000|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 14, 2019 - May 14, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||4.35|
Regulator Health Canada last month found unlicensed cultivation in five rooms at a CannTrust facility. Health Canada placed a hold on about 5,200 kilograms (11,500 pounds) of dried cannabis harvested in the rooms, while CannTrust also put a voluntary hold on a further 7,500 kg of cannabis equivalents. It warned that if Health Canada ordered the destruction of affected product, its second-quarter results would be materially impacted.
VAUGHAN, ON, Aug. 15, 2019 /PRNewswire/ - CannTrust Holdings Inc. ("CannTrust" or the "Company", TSX: TRST, NYSE: CTST) today provided an interim update on various matters. CannTrust announced that its application for a management cease trade order ("MCTO") under National Policy 12-203 – Management Cease Trade Orders ("NP 12-203") has been approved by the Ontario Securities Commission ("OSC"). The MCTO does not affect the ability of investors who are not insiders to trade in the securities of the Company.
Canopy Growth joins a recent slate of cannabis companies that are disappointing investors. The manager of the first "pure-play" cannabis ETF on the NYSE explains why the industry is coming up short.
The speculative nature of the cannabis industry has led to some wild swings in pot stocks, but an ETF's big trades are also adding to the volatility.
CannTrust Holdings Inc (NYSE: CTST) announced this week that Health Canada is investigating compliance violations at its manufacturing facility in Vaughan, Ontario. The company’s board of directors has initiated an internal investigation to determine the root cause of the problem and to initiate remediation steps. KPMG’s decision was driven by the information revealed from the company’s Special Committee’s investigation as well as information that caused the firing of CEO, Peter Aceto, at the end of July.
The Cannabis ETF (NYSE: THCX ), one of several marijuana exchange traded funds that debuted last month, is already making some changes to its roster. THCX, which tracks the Innovation Labs Cannabis Index, ...
THORNTON GROUT FINNIGAN LLP AND ROCHON GENOVA LLP have together commenced a class action in Ontario on behalf of shareholders of CannTrust Holdings Inc. who acquired their CannTrust common shares between October 1, 2018 up to and including July 8, 2019.
(Bloomberg) -- Sharp moves by several pot stocks in the final minutes of trading last week may be the result of trades by the largest cannabis exchange-traded fund.The $1 billion ETFMG Alternative Harvest ETF recently added about 5.5 million shares of CannTrust Holdings Inc., according to holdings data compiled by Bloomberg. The medical cannabis producer jumped about 40% in the last hour of trading on Friday after spending most of the day in the red. Conversely, the fund, known as MJ, has significantly reduced its positions in Auxly Cannabis Group Inc., Vivo Cannabis Inc., Supreme Cannabis Co. and Canopy Rivers Inc., which all fell by at least 13%.Tricia Vanderslice, chief marketing officer for MJ issuer ETF Managers Group, declined to comment.All that buying and selling looks to have moved MJ closer to its underlying benchmark. CannTrust, for example, has a 4% weight in the Prime Alternative Harvest Index that MJ tracks, but had shrunk to less than 2% of the ETF because of regulatory breaches that have halved the value of the pot producer’s stock since early July.Auxly, meanwhile, makes up 0.4% of the gauge, but rose to 1.3% of MJ after the cannabis cultivator secured an investment from U.K.-based cigarette maker Imperial Brands Plc. Its shares have gained almost 30% since the deal was announced in July.It’s typical for thematic ETFs like MJ to build in flexibility so they can keep pace with the sector’s volatility, said Eric Balchunas, an ETF analyst for Bloomberg Intelligence.“In the case of marijuana, it’s like taming a wild horse,” he said. “If it wasn’t able to make small adjustments on the fly because its underlying holdings are changing so quickly, it’s possible that is a worse evil than situations like this.”MJ formally rebalances every quarter to reflect any changes to its index, but it has the flexibility to trade in advance “to minimize the market impact,” according to its prospectus. The ETF’s year-to-date return of 15% lags the index’s return of about 17%, according to data compiled by Bloomberg.To contact the reporter on this story: Kristine Owram in Toronto at email@example.comTo contact the editors responsible for this story: Brad Olesen at firstname.lastname@example.org, Rachel Evans, Tatiana DarieFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
As of Monday, CannTrust was trading at 3.04 Canadian dollars. The company has lost 53.6% of its stock value since the beginning of July.
Troubled Canadian cannabis company CannTrust Holdings Inc. said Monday it has received a report from Health Canada informing it that its manufacturing facility in Vaughan, Ontario is noncompliant with certain regulations, sending its battered stock down 25%.
Kalloghlian Professional Corporation (“KPC”) announced today that a proposed class action has been commenced against CannTrust Holdings Inc. ("CannTrust") (TRST.TO), certain of its current and former directors and officers, its auditor KPMG LLC, and certain underwriters and selling shareholders involved in CannTrust's May 2019 primary market share offering. KPC will be working together with A. Dimitri Lascaris Law Professional Corporation as co-counsel in this action.
Cresco Labs is due to report its Q2 earnings on August 21 after the market closes. A week ahead, it received regulatory approval for a New York deal.
Trade worries shook the market again, but Sysco rose on strong profit growth. Meanwhile, CannTrust Holdings revealed new findings of regulatory noncompliance.
Regulators have uncovered a range of operational deficiencies at yet another CannTrust facility in Ontario, Canadian pot producer said Monday.
Illogical action likely driven by an exchange-traded fund on this cannabis company shows how both the Efficient Market Hypothesis and irrationality can co-exist.
Canada's main stock index fell for a second day on Monday, hit by losses in shares of pot producer CannTrust Holdings and worries over recession due to a prolonged U.S.-China trade war. * CannTrust Holdings Inc tumbled 25% to the bottom of the main stock index after Health Canada found fault with cannabis production at a second facility. * At 10:00 a.m. ET (14:00 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 36.7 points, or 0.22%, at 16,304.64.
Some teenagers in Colorado, where cannabis is legal for adults, are shifting away from smoking in favor of edible cannabis products, a medical study released Monday shows. About 78% of the Colorado high school students who reported consuming marijuana in 2017 said they usually smoked it, down from 87% two years earlier.
Early on Monday, CannTrust (CTST) fell almost 26.8%. The development came after Health Canada found more areas that didn't comply with regulations.
CannTrust said in a press release that it failed a Health Canada inspection during the period of July 10-16. 1. Five rooms were converted from operational areas to storage areas and were used for storage since June 2018 without the regulatory body's approval. 5. Standard operating procedures that do not meet regulatory requirements.
Shares of the Canadian grower have fallen about 55% over a month after it suspended sales, fired its chief executive officer, disclosed a regulatory investigation and said its results may have to be restated. CannTrust said it had accepted the health regulator's latest findings into the Vaughan facility in Ontario, which received a non-compliant rating, and expects to propose a remediation plan to Health Canada. Health Canada's rating for the Vaughan plant was based on an inspection between July 10 and July 16.
Health Canada has 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. Shares of the Canadian grower have fallen about 55% over a month after it suspended sales, fired its chief executive officer, disclosed a regulatory investigation and said its results may have to be restated. CannTrust said it had accepted the health regulator's latest findings into the Vaughan facility in Ontario, which received a non-compliant rating, and expects to propose a remediation plan to Health Canada.
CannTrust shares are diving after Health Canada said the Canadian Cannabis company’s Ontario Facility did not comply with certain regulations. Yahoo Finance’s Akiko Fujita is joined by Dan Howley.