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by Stockwatch Business Reporter
The Canadian Securities Exchange Composite Index lost 9.28 points to 571.48 Friday. The index, which is primarily composed of cannabis companies, fell 26.31 points this week. It is now down 368.9 points from its 2019 peak of 940.38. The CSE Composite Index reached 1040.07 in the days leading up to Canadian legalization in October, 2018, which is the highest it has been in the last year.
Canntrust Holdings Inc. (TRST) surged $1.22 to $4.21 on 9.58 million shares, a price movement that had investors speculating on what had happened or what news might be coming. Canntrust's only news today, released before the market opened, was decidedly negative; its auditor, KPMG LLG, withdrew its reports for the company's financial results for the year ended Dec. 31, 2018, and for the quarter ended March 31, 2019. Canntrust was down for most of the day and then went on a tear in the final hour of trading. After closing at $3.17 (U.S.) on the New York Stock Exchange ($4.21 on the TSX), the stock fell to $2.68 (U.S.) in after-hours trading, but it is still up from $2.25 (U.S.) at which it opened today.
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