CannTrust Holdings Inc. (TSX:TRST) (NYSE:CTST) is officially trading on the New York Stock Exchange (NYSE) today! CannTrust now trades under the CTST stock ticker. TRST has gained some serious momentum since CannTrust announced the NYSE listing last week.
CannTrust Holdings Stock Movement
CTST shot up at the bell but has since corrected in price. CTST stock opened the NYSE at $9.91 a share and is now trading at $9.69. CTST has seen a high of $10.09 so far, and its current trend is upwards.
When the company announced the NYSE news, TRST stock began to climb. In the last five days, TRST is up 12% on the TSX. At the time of writing, the cannabis stock is trading at $12.74 a share, up +$0.13 (+1.03%). This morning, TRST did the same as CTST and shot up at the bell. Since then, both stocks have slightly corrected, but are trending upward as the morning progresses.
CannTrust Company Movements
“The NYSE listing is another significant milestone in the evolution of CannTrust and we are excited to share more about our planned growth initiatives in the near future,” said Peter Aceto, CEO of CannTrust Holdings.
In late January, the Canadian cannabis company announced the approval of its Phase III expansion in the Town of Pelham. Originally, the company applied to expand its operations by 600,000 sq. ft. but was only approved for 390,000. This put a slight kink in the company’s plans, with a projected cannabis output lower than anticipated.
To compensate for the loss, the company plans on making additional enhancements to the facility to get the total production capacity annually to 100,000 kg.
CTST Stock Onwards
Where do you think CTST stock is going to go from here? Are you excited about CannTrust now listing on the NYSE?
Let us know your thoughts in the comments below.
Featured Image: Canva