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Sunday, November 29, 2020

Why the Bull is Back for CannTrust Holdings Inc (OTCMKTS:CNTTF)

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Another cannabis stock to come roaring off its lows in recent action is CannTrust Holdings Inc (OTCMKTS:CNTTF). Shares just broke back above the stock’s 50-day simple moving average and now sit more than 30% off its December lows. To further color the narrative, the company just announced that it has applied to list its common shares on the New York Stock Exchange.

According to the release, “Listing of the Company’s common shares on the NYSE remains subject to the approval of the NYSE and the satisfaction of all applicable listing and regulatory requirements. In connection with the intended listing on the NYSE, the Company has filed a registration statement on Form 40-F with the United States Securities and Exchange Commission. The Registration Statement has not yet been declared effective by the SEC. Upon receipt of all required approvals and completion of the formal listing process, the Company will publicly announce its first trading date on the NYSE.”

CannTrust Holdings Inc (OTCMKTS:CNTTF) bills itself as a company that produces and distributes pharmaceutical grade medical cannabis products in Canada.

CannTrust is a federally regulated licensed producer of medical and recreational cannabis in Canada. Founded by pharmacists, CannTrust brings more than 40 years of pharmaceutical and healthcare experience to the medical cannabis industry and serves over 57,000 medical patients with its dried, extract and capsule products. The company operates its 450,000 sq. ft. Niagara Perpetual Harvest Facility.

The industry’s broadest product portfolio is prepared and packaged at the 60,000 sq. ft. manufacturing centre of excellence in Vaughan, Ontario.

CannTrust is developing nanotechnology to develop new products in the medical, recreational, beauty, wellness and pet markets. The Company has established its international footprint through a strategic partnership with Cannatrek Ltd. in Australia and a joint venture with STENOCARE in Denmark.

The Company has also partnered with Breakthru Beverage Group through Kindred Canada, for recreational distribution in Canada. CannTrust is committed to research and innovation. Its partnerships with McMaster University in Ontario and Gold Coast University in Australia were designed to contribute to the growing body of evidence-based research regarding the use and efficacy of cannabis.

It sells dried cannabis and oil extractions to the client based on the medication document provided by health care practitioner. The company has a partnership with Gold Coast University Hospital. CannTrust Holdings Inc. was incorporated in 2015 and is headquartered in Vaughan, Canada.

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As noted above, CNTTF just announced that it has applied to list its common shares on the New York Stock Exchange. In all, recent action has seen 19% added to share values of the company over the past week of action. Furthermore, the name has benefitted from a jump in recent trading volume to the tune of 29% beyond its prior sustained average level.

“CannTrust has firmly established itself as one of the top licensed producers in Canada with a global platform rooted in trust, science and innovation,” said Peter Aceto, CEO of CannTrust.

“A listing on the NYSE is a natural step forward in our evolution as we look to broaden our investor base, increase the Company’s exposure and expand our business on an international scale.”

Earning a current market cap value of $656.14M, CNTTF has a significant war chest ($86.3M) of cash on the books, which stands against about $8.7M in total current liabilities. CNTTF is pulling in trailing 12-month revenues of $36.5M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 105%. As more color becomes clear on the name, we will review the situation and update our take. Sign-up for continuing coverage on shares of $CNTTF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $CNTTF, either long or short, and we have not been compensated for this article.

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