The cannabis company was awarded NYSE approval yesterday
The “Top Licensed Producer of the Year,” according to the 2018 Canadian Cannabis Awards, is now on the NYSE. CannTrust Holdings Inc. was awarded approval to list its shares on the stock exchange yesterday, adding it to a growing list of cannabis companies that can be traded publicly.
CannTrust announced in January that it had planned to seek an NYSE listing, and it now has successfully fulfilled its mission. The company’s CEO, Peter Aceto, said in a statement, “CannTrust has firmly established itself as one of the top licensed producers in Canada with a global platform rooted in trust, science, and innovation. A listing on the NYSE is a natural step forward in our evolution as we look to broaden our investor base, increase the Company’s exposure and expand our business on an international scale.”
The company will officially be listed as of February 25. Its ticker symbol is going to be “CTST” and it will run alongside its original listing on the Toronto Stock Exchange (TSE). Aceto adds, “We have taken steps to strengthen our management team to accelerate our growth as we face high demand for our products and expertise, both domestically and internationally.”
On the TSE, where it is traded under the ticker symbol TRST, CannTrust has gotten off to a strong start this year. On January 2, it was trading at about $5.34 and has since seen gains of around 74%. It is currently at about $8.69, as of this writing.