CannTrust stock tumbles another 13% on speculation cannabis grower could lose its licencePosted by On


CannTrust Holdings Inc. tumbled another 13 per cent Friday after the Canadian pot company halted all sales and shipments of its products, raising the spectre that it could lose its license entirely.

CannTrust shares have lost 46 per cent since the beginning of the week, when it disclosed that Canadian regulators gave a non-compliant rating to its greenhouse in Pelham, Ontario. In an unannounced inspection, regulators found the company grew pot in unlicensed rooms, provided “false and misleading information” to inspectors and had inadequate record keeping, according to Health Canada spokeswoman Tammy Jarbeau.

The stock fell to $3.52 at 1:55 p.m. in Toronto, and has dropped for seven straight sessions. The fallout also hit the cannabis sector as a whole, with the Horizons Marijuana Life Sciences Index ETF down 5 per cent to the lowest intraday since Jan. 10. Canopy Growth Corp. lost 8 per cent, while Cronos Group Inc. fell 6.8 per cent and Hexo Corp. slid 6.1 per…

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