The cannabis company on everyone's lips right now is CannTrust Holdings (TSX:TRST). The predominant reason for this is the astronomical gains CannTrust stock has experienced since it posted positive Q3 results. But what is really interesting about this company is how it sizes up next to the biggest names in the biz.
Let's take a look!
CannTrust Stock
The marijuana market closed yesterday with CannTrust stock having gained over 30% on the day—selling for $9.40.
The Ontario-based cannabis producer set the market alight when it posted Q3 earnings that more than rivaled cannabis' biggest names Aurora Cannabis (NYSE:ACB) (TSX:ACB) and Canopy Growth (NYSE:CGC) (TSX:WEED).
These companies are much bigger with much deeper pockets, and so the revelation has pitted CannTrust as the next big company in the game.
Sales
With sales of $500,000 CAD in recreational marijuana alone, CannTrust proved that its product is as much in demand as Aurora's—which shifted the same amount of adult-use cannabis.
Canopy Growth did outsell both competitors with approximately $700,000 CAD in sales. However, let's consider the size of these companies for a moment.
Canopy is easily the biggest cannabis company, with a market cap of $11.79 billion CAD. Aurora has a market cap of $8.14 billion CAD.
CannTrust's market cap, on the other hand, is a mere $893.61 million CAD. By comparison, it is a much, much smaller company. Yet it has rivaled the biggest in the biz in sales.
Now you understand why the CannTrust stock is soaring!
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CannTrust Holdings Moving Forward
The company is now pursuing a listing on the New York Stock Exchange, though no timeline has yet been given.
Before recreational marijuana was legalized, the vast majority of CannTrust's revenue came from medical cannabis sales in Canada.
Based on the latest news and pushing into 2019, it looks like its commercial cannabis will also deliver strong revenue. Further, the company also has a range of international operations, shipping roughly $200,000 CAD worth of marijuana outside Canada.
CannTrust executives revealed that its best-selling strain was 'Kinky Kush' under its Liiv brand, which is garnering strong reviews and an online buzz.
Where will CannTrust stock go from here?
Featured Image: Depositphotos/© eightshot
