Cannabis Watch: We take a closer look at cannabis companies and how they performed in the markets for the day. Today’s companies will be CannTrust Holdings Inc. (TSX:TRST) (OTC:CNTTF) and Maricann Group Inc. (CSE:MARI) (OTCQB:MRRCF).
CannTrust Holdings Inc.
CannTrust Holdings contributes to the research and production of pharmaceutical grade cannabis. The company currently operates a 60,000 sq. ft. hydroponic facility in Ontario and is in Phase 2 of its greenhouse expansion plans, expected to be completed mid-2018.
On Monday this week, CannTrust moved over to the Toronto Stock Exchange (it was previously listed on the Canadian Securities Exchange). Of the move, CEO of CannTrust, Eric Paul, said:
“Graduating to the TSX reflects the amazing progress we have made since listing on the CSE in August last year and represents yet another important milestone for CannTrust as we continue our successful journey as one of Canada’s leading cannabis companies.”
>> Cronos Group listed as Nasdaq’s first cannabis stock
CannTrust closed the day on the TSX at $8.82, putting the stock down $0.18, or 2%, from the previous closing price of $9.00. The day’s trading ranged between $8.69 and $9.03, with a trading volume of 148,540.
On the other side of the border, the company closed at $6.81 on the OTC market. The stock was down $0.15, or 2.10%, from the previous closing price of $6.96. The day’s trading ranged between $6.71 and $6.99, with a trading volume of 27.659.
CannTrust traded relatively equally on both markets.
Maricann Group Inc.
Maricann Group produces and distributes medical cannabis. Maricann is in the process of expanding its cultivation and support facilities, located in Ontario.
The company closed the day on a high on the Canadian side of things – but just barely. The stock closed at $2.80, putting it up to $0.01, or 0.36%, from the previous closing price of $2.79. The day’s trading ranged between $2.61 and $2.88, with a trading volume of 2.6 million.
On the OTCQB market, Maricann closed at $2.05, which put the stock down $0.10, or 4.65%, from the previous closing price of $2.15. The day’s trading ranged between $2.03 and $2.21, with a trading volume of 83,945.
Maricann traded better in the Canadian market for the day.
Featured image: ITV
