The bad news just keeps coming for CannTrust. This week the company said that Ontario informed them that some of its products are “non-conforming” under the Master Cannabis Supply Agreement. It has opted to return the product valued at C$2.9 million. CannTrust did note that Health Canada has not ordered a recall of its products.
Cannabis stocks sunk lower on Monday, continuing the sector's downward trend as investors reeled from a series of high profile setbacks in the industry. William O'Neil and Co. cannabis analyst Andrew Kessner said that although a loss of momentum in the cannabis sector could dissuade more tentative investors from diving into the space, tempered valuations ー particularly in the U.S. and in second tier Canadian cannabis stocks ー could prove attractive.
Cannabis stocks were mixed on Thursday, a day after a landmark congressional hearing on reforming U.S. laws that found bipartisan agreement that the current setup is a mess and needs to change.
CannTrust shares took another bath after a report said the company built fake walls to hide from regulators that it was growing unlicensed product.
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