The New York Stock Exchange will have a new cannabis company listing its stock after CannTrust Holdings Inc CNTTF announced it had satisfied all regulatory requirements and will commence trading on Monday, Feb. 25.
What Happened
On Jan. 8, the Canada-based producer of cannabis said it applied to list its stock on the NYSE and filed a registration statement on Form 40-F with the US Securities and Exchange Commission. CannTrust will be trading under the ticker CTST. It will also continue to list its shares on the Toronto Stock Exchange.
CannTrust will join a number of other large Canadian cannabis companies, such as Aurora Cannabis Inc. ACB and Canopy Growth Corp CGC, that managed to list their stocks on the NYSE.
What's Next
The upgrade to the NYSE should help CannTrust access a much larger pool of investors, who would be more willing to invest in a NYSE-traded stock.
More investors would be willing to buy CannTrust shares because of its NYSE-listing, because these stocks are subject to more transparent and scrutinized reporting standards compared to over-the-counter stocks.
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