Cannabis stocks have seen their fair share of volatility in the market, especially when it comes to a cannabis company’s Initial Public Offering (IPO) onto a stock exchange within the United States. So far, CannTrust’s IPO on the New York Stock Exchange (NYSE) under the stock symbol ticker of ”CTST” has gone the way of another cannabis company IPOs from Canadian exchange markets to public markets within the United States.
Large cannabis corporation Aurora Cannabis Inc (NYSE: ACB) saw an immediate decline in value after they uplisted to a US exchange, while Aphria (NYSE: APHA) share value decreased significantly after a brief increase in value after less than a couple weeks. Share value of ACB decreased by nearly 12% on the date of its IPO and APHA value dropped 14% only 10 days after it was made available to investors within the US.
Right now, as of almost 2:30pm (CST), CTST stock is at a 3.76% loss in value after it IPOed today. The stock opened at a value of $9.96 and has, currently, dropped a full dollar to $8.96. After the value of CannTrust shares has completed its possible continued decline in the next few days, it may see a sudden reversal and increase in value significantly. Investors will want to keep an eye on CTST for the opportunity to position themselves strategically before a buyback that increases CTST value and provides a profit to well-positioned investors.
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