07:50:11 EDT Thu 25 Apr 2024
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Canntrust Holdings Inc
Symbol TRST
Shares Issued 103,818,203
Close 2018-07-12 C$ 7.59
Market Cap C$ 787,980,161
Recent Sedar Documents

Globe/wire say Canntrust, others seen as fairly priced

2018-07-13 08:39 ET - In the News

Also In the News (C-HEXO) Hydropothecary Corp (The)
Also In the News (C-OGI) Organigram Holdings Inc

The Globe and Mail reports in its Friday edition that while the big institutions are largely steering clear of pot companies, about half of New York hedge fund Navy Capital's portfolio is invested in Canadian marijuana plays which it considers "properly valued." A Bloomberg dispatch to The Globe says that these include Canntrust, Hydropothecary and Organigram. The remainder is split between the United States and Europe, Israel and Australia. The fund invests in both public and private companies and sees the best investment opportunities shifting from Canada to the U.S., Europe and Latin America. Canadian pot stocks have had a wild ride in the past year with the BI Canada Cannabis Competitive Peers Index surging about 250 per cent from October to December as the road to legalization became clearer in Canada, before dropping 50 per cent this year. While hedge funds like Navy are embracing the pot space, pension and mutual funds are still reluctant, said Chris Barry, a Seattle-based lawyer at Dorsey & Whitney LLP who works with cannabis firms. "People around the table have said, 'Oh, our fund couldn't possibly consider doing that,' and then they pulled out their chequebooks and invested personally."

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