Marijuana producer CannTrust will be listed on NYSE February 25th

marijuana stocks

From Alex Oleinic: The New York Stock Exchange will have a new cannabis company listing its stock after CannTrust Holdings Inc CNTTF 2.57% 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 1.88% and Canopy Growth Corp CGC 0.22%, 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.

The ETFMG Alternative Harvest ETF (MJ) was trading at $36.19 per share on Wednesday afternoon, up $0.56 (+1.57%). Year-to-date, MJ has gained 11.27%, versus a 4.72% rise in the benchmark S&P 500 index during the same period.

MJ currently has an ETF Daily News SMART Grade of C (Neutral), and is ranked #59 of 75 ETFs in the Global Equities ETFs category.

This article is brought to you courtesy of Benzinga.