Shares of CannTrust Holdings (CTST) leaped after the Canada-licensed producer of medical and recreational marijuana agreed to set up a U.S. operation by forming a joint venture in California with Elk Grove Farming.
CannTrust said the deal, via long-term lease, will give it access to 3,000 acres in Southern California to cultivate hemp and produce derived cannabidiol formulations,It expects the venture to produce commercial-scale cultivation of hemp in 2020. CannTrust said it would provide expertise in hemp growth, drying and extraction, as well as genetics. Elk Grove will provide farm management, packaging, transport and warehousing, among other services. From a technical perspective the stock is stuck in a range for 2 years the top of which offers a 100% gain from current levels. The stock has a pattern of movement and this is the stimulus for the next advance.
AVERAGE ANALYSTS PRICE TARGET $12.12
AVERAGE ANALYSTS RECOMMENDATION BUY
COMPANY PROFILE
CannTrust Holdings, Inc. engages in the production and distribution of medical cannabis. It focuses on developing nanotechnology to create new products in the medical, recreational, beauty, wellness, and pet markets. The company was founded by Norman Paul and Eric Paul on March 16, 2015 and is headquartered in Vaughan, Canada.
CannTrust said the deal, via long-term lease, will give it access to 3,000 acres in Southern California to cultivate hemp and produce derived cannabidiol formulations,It expects the venture to produce commercial-scale cultivation of hemp in 2020. CannTrust said it would provide expertise in hemp growth, drying and extraction, as well as genetics. Elk Grove will provide farm management, packaging, transport and warehousing, among other services. From a technical perspective the stock is stuck in a range for 2 years the top of which offers a 100% gain from current levels. The stock has a pattern of movement and this is the stimulus for the next advance.
AVERAGE ANALYSTS PRICE TARGET $12.12
AVERAGE ANALYSTS RECOMMENDATION BUY
COMPANY PROFILE
CannTrust Holdings, Inc. engages in the production and distribution of medical cannabis. It focuses on developing nanotechnology to create new products in the medical, recreational, beauty, wellness, and pet markets. The company was founded by Norman Paul and Eric Paul on March 16, 2015 and is headquartered in Vaughan, Canada.