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Non-Tech : Marijuana Stocks

CGC 1.170

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Nov 7 9:30 AM EST

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From: kidl	9/3/2019 10:22:04 AM
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Globe says Canntrust seen falling from index Canntrust Holdings Inc (C:TRST) Shares Issued 141,481,527 Last Close 8/30/2019 $2.30 Tuesday September 3 2019 - In the News The Globe and Mail reports in its Tuesday, Sept. 3, edition that Canntrust Holdings ($2.30) is likely to be dropped from Canada's benchmark stock index this month. The Globe's Andrew Willis writes that Canntrust is a member of the S&P/TSX Composite Index, a group that includes 239 public companies. Its stock price is down 60 per cent since early July, when the company announced it had breached federal regulations by growing pot in rooms that were not approved by government. Health Canada is expected to hit Canntrust with sanctions. The most severe possible penalty would be the loss of its licence to legally grow cannabis. The slide in Canntrust's value has put its market capitalization at about $335-million, below the threshold for membership in the index. AltaCorp Capital analysts said last week that the stock is likely to be deleted from the S&P/TSX benchmark. AltaCorp managing director Chris Murray said that, as a rule, index investors hold about 5.5 per cent of a company's public float and sell the stock when a company is dropped. Removing the cannabis producer from the index would trigger a wave of selling, as index investors own approximately 4.8 million shares in Canntrust. © 2019 Canjex Publishing Ltd.

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