Market Overview

NYSE Warns CannTrust Is No Longer In Compliance With Listing Rules

Share:
NYSE Warns CannTrust Is No Longer In Compliance With Listing Rules

CannTrust Holdings Inc. (NYSE: CTST)(TSX:TRST) said Tuesday afternoon it was notified by the New York Stock Exchange on Monday that it's no longer in compliance with the NYSE’s listing standard rules due to CannTrust’s share price falling below the set threshold.

The NYSE demands the average closing price of a listed company’s shares to be a minimum of $1.00 per share for 30 consecutive trading days. On Monday, CannTrust’s 30 trading-day average closing price was 97 cents.

The company won’t be removed from NYSE listing immediately. Instead, CannTrust has six months to retake compliance. During those six months, its common shares will continue to list on NYSE.

NYSE rules allow for the company to retain compliance at any point in the six-months period if it achieves at least $1.00 average closing price over the 30 trading-day period ending on the last trading day of that month or on the last day of the cure period.

CannTrust’s stock closed Tuesday’s market session 8.13% lower at 84 cents per share.

Related Links:

Analyst: No Near-Term Catalysts Ahead For Consumer CBD

Kaden Resigns From CannTrust Board; Search Underway For New Directors, Permanent CEO

Posted-In: Cannabis News Legal Markets Best of Benzinga

 

Related Articles (CTST)

View Comments and Join the Discussion!

Cannabis Movers

Sign up for our secret cannabis newsletter!
Never miss out on the breaking news in the Cannabis Industry!