Company News

BUZZ-CannTrust Holdings: Shares drop on wider-than-expected Q4 loss

** Shares of Canadian medical marijuana producer drop as much as 14.1 pct to C$11.55 in early trade, their lowest in about two weeks

** TRST posts Q4 loss per share of 26 Canadian cents, bigger than the 0.04-Canadian cent/share loss analysts estimated, as per IBES data from Refinitiv

** Blames higher operating expenses as a result of marketing to support the launch of four recreational brands, and costs in preparation for co’s recent NYSE listing

** Co’s U.S.-listed stock down 14.8 pct on Thursday

** TRST expects to continue to spend on technology and marketing, and is developing innovative products for the expected legalization of the edibles market in Canada later this year

** In the year to Wednesday’s close, TRST stock had more than doubled, recovering from a 28.2 pct drop in 2018 (Reporting by Aaron Saldanha in Bengaluru)