The Initial Public Offering, or IPO, of CannTrust Holdings (NYSE: CTST) has recovered from a significant dip. The value of CTST dropped as much as 9.55% after its first day on an American exchange. CTST broke under the $9 mark and reached as low as $8.96 on its IPO date of February 25th.
Investors who bought shares on the 25th at a purchase price of $8.96 would have seen a 4.5% return on investment (ROI) per share as soon as the 27th. A possible ROI per share this week for investors, who bought CTST at the lowest price on the date of the IPO, was well over 5% per share. CTST closed at $9.42 on Friday, March 1st.
Since the stock closed on the 1st, it has dropped as low as 6.68% in value, and as of Friday AM, trading at $9.02.
A solid reversal and increase in stock value was seen today as the stock closed at $9.60.
Be sure to keep an eye on CannTrust as investors may have grown wary with its volatility and inability to stay over $9. It is always a possibility with CannTrust share value on Tuesday that investors, who are wary with the volatility from the non-established cannabis stock, decide not to chance it.
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