Record revenue and a potential NYSE listing lifted a Canadian marijuana stock Thursday. Here’s some small stocks making big moves on Thursday, November 15, 2018 (as of 4 pm EST):
CannTrust Holdings Inc. (TSX:TRST), a Canadian marijuana stock, surged 30% to $9.40 on Thursday after announcing record third-quarter revenue of $12.6 million, a 105% increase from the same period last year. CannTrust also said it is taking steps to list its common shares on the New York Stock Exchange.
As well, shares of Katanga Mining Limited (TSX:KAT) slipped as much as 12% before ending up 7% to $0.46 as the copper and cobalt miner disclosed that the Direction Générale des Douanes et Accises in the Democratic Republic of the Congo issued an internal instruction on November 9, 2018, temporarily preventing the Company’s 75% owned subsidiary, Kamoto Copper Company SA, from importing or exporting any material or production, including copper production, as a result its alleged failure to declare and pay duties on the export of at least 6,650 tons of copper in December 2014 and January 2015.
Arena Minerals Inc. (TSXV:AN), meanwhile, reported that it has agreed to acquire 100% of Antofalla Minerals S.A., which owns lithium brine projects located in Argentina, for a purchase price of US$400,000 in cash and 10 million common shares of Arena. Arena Minerals stock moved up 31% to $0.085 following the announcement.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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CannTrust Holdings Inc. (TSX:TRST), a Canadian marijuana stock, surged 30% to $9.40 on Thursday after announcing record third-quarter revenue of $12.6 million, a 105% increase from the same period last year. CannTrust also said it is taking steps to list its common shares on the New York Stock Exchange.
