Notable News Spotlight: CannTrust Holdings Inc. (NYSE:CTST)

 CannTrust Holdings Inc. (NYSE:CTST) changed -4.39% to recent value of $2.18. The stock transacted 4175299 shares during most recent day however it has an average volume of 4430.06K shares. It spotted trading -81.79% off 52-week high price. On the other end, the stock has been noted 16.58% away from the low price over the last 52-weeks.

 On Aug. 15, 2019, CannTrust Holdings Inc. (CannTrust or the Company, TSX:TRST, NYSE:CTST)  provided an interim update on various matters.

Management Cease Trade Order

CannTrust announced that its application for a management cease trade order (MCTO) under National Policy 12-203 – Management Cease Trade Orders (NP 12-203) has been approved by the Ontario Securities Commission (OSC). The MCTO does not affect the ability of investors who are not insiders to trade in the securities of the Company.

CannTrust declared on August 1, 2019 that it was filing an application seeking a MCTO from the OSC because the Company was likely to miss its filing deadline of August 14, 2019 to file 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 (the Q2 Financials).

The timing and content of CannTrust restoring any defaults in its Q2 Financials will depend, in large measure, upon the timing and impact of Health Canada’s decisions regarding the Company’s non-compliance with regulatory requirements. Although the Company, under the supervision of the Special Committee, is preparing a remediation plan for submission to, and consideration by Health Canada, Health Canada has advised the Company that it is unable to provide any guidance about the timing or content of its decisions concerning the Company.

115.29M shares were floated in the market.  The price moved ahead of -35.31% from the mean of 20 days, -52.31% from mean of 50 days SMA and performed -66.89% from mean of 200 days price. Company’s performance for the week was -20.15%, -56.22% for month and YTD performance remained -54.80%.

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