CannTrust (CNTTF) has been trending higher ever since the beginning of this year. The stock has returned nearly 75% YTD as of February 20. In February alone, the company returned about 14%.
Listing on NYSE
One of the catalysts driving investors to CannTrust is its announcement of its listing on the New York Stock Exchange. On February 20, the company announced that it satisfied all regulatory requirements and is set to begin trading on February 25. In its press release, the company’s CEO, Peter Aceto, stated that its listing on the NYSE “is a natural progression” for the company to deliver value to its shareholders.
Currently, the company’s stock is trading on the OTC (over-the-counter) market in the US. However, institutional and retail investors usually avoid OTC stocks. Thus, its listing on the NYSE gives CannTrust access to a larger investor base and better access to the capital markets.
Read on to know where CannTrust’s valuations stand.