Canadian marijuana producer CannTrust applies for NYSE listing

CannTrust Holdings Inc. said Tuesday that it has applied to list its shares on the New York Stock Exchange, following other large Canadian cannabis companies that list in the U.S. but operate in Canada. CannTrust stock was down 4% in morning trading, as the ETFMG Alternative Harvest ETF fell 1.8%. “CannTrust has firmly established itself as one of the top licensed producers in Canada with a global platform rooted in trust, science and innovation,” CannTrust Chief Executive Peter Aceto said in a statement. “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.” U.S. exchanges have allowed listing by marijuana companies that operate in Canada where pot is legal for adult recreational use.

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