|Bid||1.1500 x 0|
|Ask||1.1700 x 0|
|Day's Range||1.1500 - 1.2000|
|52 Week Range||1.1500 - 13.4800|
|Beta (3Y Monthly)||4.42|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 14, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||5.09|
VAUGHAN, ON, Nov. 7, 2019 /CNW/ - CannTrust Holdings Inc. ("CannTrust" or the "Company", TSX: TRST, NYSE: CTST) today is providing a status update in accordance with its obligations under the alternative information guidelines set out in National Policy 12-203 – Management Cease Trade Orders ("NP 12-203"), which require the Company to provide bi-weekly updates until such time as the Company is current with its filing obligations under Canadian securities laws. As previously announced, the Company is subject to a management cease trade order ("MCTO") issued by the Ontario Securities Commission. The MCTO prohibits the directors and executive officers of the Company from trading in or acquiring securities of the Company until two full business days after the Company files an interim financial report for the three and six month periods ended June 30, 2019, an interim management's discussion and analysis for the corresponding period and certifications of interim filings.
Cantor Fitzgerald is predicting “green days ahead” for the battered shares that have struggled to find their footing since Canada legalized recreational pot more than a year ago.
With the stock market seemingly not favouring cannabis stocks, both CannTrust and Hexo stocks are on a constant decline, and things look terrible for the two pot producers.
You cannot trust CannTrust even now, considering how adverse the effect of its failure to comply with regulations was for the whole legal cannabis industry.
Between its regulatory scandal and loss of revenue, CannTrust Holdings Inc (TSX:TRST)(NYSE:CTST) has had a truly horrible year.
CannTrust (TSX:TRST)(TSX:CTST) director John Kaden resigned on Monday from the company’s board of directors to focus on Navy Capital Green.
VAUGHAN, Ont. — CannTrust Holdings Inc. says John Kaden has resigned as a member of the cannabis company's board of directors.The company says Kaden stepped down to focus on his role as co-founder, managing partner, and chief investment officer of Navy Capital Green Management LLC.CannTrust has been under fire since it disclosed in July that Health Canada had discovered illicit cultivation in unlicensed rooms at its Pelham, Ont., greenhouse.The company later fired its CEO "with cause" and asked its chairman to resign after the board discovered new information during an internal investigation. Health Canada suspended CannTrust's licenses to produce and sell cannabis in September.Kaden joined the CannTrust board in October 2018 and served as a member of the special committee that investigated the causes of the company's non-compliance with Health Canada regulations.The special committee recently completed its investigation and the company submitted a detailed remediation plan to Health Canada in hopes of regaining its cannabis licenses."With its remediation plan now underway, I believe CannTrust is well positioned to fulfil its commitments to both bring the company into full regulatory compliance and seek the full reinstatement of its licenses," Kaden said in a statement.This report by The Canadian Press was first published Oct. 28.Companies in this story: (TSX:TRST) The Canadian Press
VAUGHAN, ON, Oct. 28, 2019 /CNW/ – CannTrust Holdings Inc. ("CannTrust" or "the Company", TSX: TRST, NYSE: CTST) announced that, following both the recent submission of its detailed remediation plan to Health Canada and the completion of its Special Committee's independent investigation, the Company has begun the orderly process of renewing its Board of Directors. As part of this process, John T. Kaden has resigned from his position as Director.
Flower One Holdings (CSE: FONE) (OTCQX: FLOOF) has announced that its brand partner has become the top-performing cannabis flower brand in Nevada. According to Headset, a cannabis industry analytics services provider, Old Pal is now the top-performing cannabis flower brand in Nevada. Flower One is licensed to produce and distribute the entire Old Pal product line. MYM […]The post Cannabis Stock News Weekend Roundup October 27 appeared first on Market Exclusive.
VAUGHAN, Ont. — CannTrust Holdings Inc. shares slipped Friday after the cannabis company said it is laying off as many as 140 people — roughly one quarter of its workforce — while it works to regain its federal licences to sell and produce pot.Its stock fell as low as $1.52 on the Toronto Stock Exchange, down roughly 13 per cent from its previous close of $1.74, but regained some ground to close at $1.62.The Vaughan, Ont.-based pot producer said late Thursday there will be a series of phased layoffs between late October and the end of the year. The cuts are expected to result in monthly cash savings of about $400,000 and cost up to $800,000 in severance payments if the employees are not recalled within 35 weeks."This was a difficult decision, but it is imperative that our workforce reflects the current requirements of our business," said Robert Marcovitch, CannTrust's chairman and interim chief executive officer, in a statement."Reducing the company's current operating expenses supports our financial sustainability and places us in the best position to fully resume production upon the reinstatement of our licenses. We look forward to rehiring at that time."The savings from the temporary layoffs will depend on when it regains licenses from Health Canada, CannTrust said.CannTrust has been mired in turmoil since it disclosed in July that Health Canada had discovered illicit cultivation in unlicensed rooms at its Pelham, Ont., greenhouse. The company later terminated its CEO "with cause" and asked its chairman to resign after the board discovered new information during an internal investigation. Health Canada suspended CannTrust's licenses to produce and sell cannabis in September.In September, CannTrust announced it was laying off about 180 people, which at the time amounted to roughly 20 per cent of the company's workforce. The company said it submitted a detailed remediation plan to Health Canada on Oct. 21. It expects to complete the work described in the plan by the end of the first quarter of 2020.CannTrust's remediation plan includes an expanded internal training program, a strengthened governance and operations framework and infrastructure enhancements. It also includes its previously announced plan to destroy $77-million worth of plants and inventory that was not authorized under its licence."CannTrust is confident that its remediation plan addresses all of the compliance issues identified by Health Canada," said Marcovitch.CannTrust also said that a special committee has completed its investigation into the causes of its non-compliance with the Health Canada regulations and made its report to the board of directors.The company said its probe involved a comprehensive independent review of CannTrust's email and other documents, as well as interviews with current and former employees, certain members of senior management and all members of the current board of directors."Importantly, the special committee's investigation found no evidence that any of the remaining members of the board were aware of or engaged in any non-compliance issues," said Mark Dawber, chair of the special committee, in a statement.This report by The Canadian Press was first published Oct. 25, 2019.Companies in this story: (TSX:TRST)The Canadian Press
TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:Toronto Stock Exchange (16,404.49, up 35.17 points).Yamana Gold Inc. (TSX:YRI). Materials. Up 33 cents, or 7.43 per cent, to $4.77 on 8.9 million shares.Zenabis Global Inc. (TSX:ZENA). Health care. Down 3.5 cents, or 11.86 per cent, to 26 cents on 7 million shares.Aurora Cannabis Inc. (TSX:ACB). Health care. Up 14 cents, or 2.89 per cent, to $4.99 on 5.3 million shares.Encana Corp. (TSX:ECA). Energy. Up 13 cents, or 2.39 per cent, to $5.56 on 4.8 million shares.Kinross Gold Corp. (TSX:K). Materials. Up nine cents, or 1.45 per cent, to $6.29 on 4.1 million shares.Aphria Inc. (TSX:APHA). Health care. Up 57 cents, or 8.49 per cent, to $7.28 on 3.8 million shares. Companies in the news:Hexo Corp. (TSX:HEXO). Down 20 cents or six per cent to $3.11. Hexo Corp. is winding down its operations at its greenhouse in Beamsville, Ont., as part of the cannabis company's cost-cutting moves. The Niagara-area greenhouse belonged to Newstrike Brands Ltd., a licensed producer backed by members of the Tragically Hip band that Hexo acquired in May. A spokeswoman for Hexo says it acquired Newstrike for its brand and distribution channels, and the facility in Beamsville provided additional supply. Hexo did not answer questions about how many employees at the Beamsville facility were impacted, but earlier this week the Gatineau, Que.-based firm announced that it was reducing its workforce by approximately 200 jobs across the board.Shaw Communications Inc. (TSX:SJR.B). Up 81 cents or 3.25 per cent to $25.72. Freedom Mobile's subscriber growth gained momentum during the summer months despite a new level of competition from its bigger rivals, senior management at Shaw Communications Inc. told analysts Friday as the company reported a fourth-quarter profit of $167 million. During the quarter ended Aug. 31, Freedom added 90,700 customers to bring its total to nearly 1.7 million subscribers in three provinces, making it the largest of Canada's four main regional wireless carriers. The subscriber growth exceeded analyst estimates, which had generally been for less than the 85,000 net subscriber additions that Freedom reported in last year's equivalent period.Domtar Corp. (TSX:UFS). Up $2.55 or 5.4 per cent to $49.45. Shares in Domtar Corp. soared after it reported better-than-expected results for its latest quarter. Domtar, which keeps its books in U.S. dollars, says it earned US$20 million or 32 cents per diluted share for the quarter ended Sept. 30, down from a profit of $99 million or $1.57 per diluted share a year ago. Consolidated sales for the quarter totalled $1.28 billion, down from $1.37 billion. Excluding a number of one-time items, Domtar says it earned $55 million or 89 cents per share in the quarter compared with a profit of $92 million or $1.46 per share in the same quarter a year earlier. CannTrust Holdings Inc. (TSX:TRST). Down 12 cents or 6.9 per cent to $1.62. CannTrust Holdings Inc. shares fell Friday after the cannabis company said it is laying off as many as 140 people — roughly one quarter of its workforce — while it works to regain its federal licences to sell and produce pot. The Vaughan, Ont.-based pot producer said late Thursday there will be a series of phased layoffs between late October and the end of the year. The cuts are expected to result in monthly cash savings of about $400,000 and cost up to $800,000 in severance payments if the employees are not recalled within 35 weeks. The savings from these temporary layoffs will be dependent on the timing of employee recalls pending reinstatement of the company's licenses by Health Canada, CannTrust said. This report by The Canadian Press was first published Oct. 25, 2019.The Canadian Press
At 12:51 PM ET, the S&P; 500 Index and the Dow Jones Industrial Average were up 0.5% and 0.7%, respectively. The cannabis sector was also up today.