Cannabis producer CannTrust slides in its US trading debut

Barbara Corbellini Duarte/Business Insider

CannTrust

• CannTrust, a Canadian cannabis producer, went public on the New York Stock Exchange Monday.
• Shares continue to be listed on the Toronto Stock Exchange.
• The company posted more than 100% revenue growth in the third quarter of 2018, and is profitable.
• Watch CannTrust trade live.

CannTrust, a Canadian cannabis producer, fell 3.46% to $9.27 a share Monday during its New York Stock Exchange debut.

Shares trade under the ticker "CTST" in the US and continue to be listed on the Toronto Stock Exchange under the ticker "TRST."

"We are a fast-growing company that is continuously looking to increase our international presence," said CEO Peter Aceto in a press release.

"The NYSE listing is another significant milestone in the evolution of CannTrust and we are excited to share more about our planned growth initiatives in the near future."

CannTrust reported $12.6 million in revenues in the third quarter of 2018, up 105% year-over-year. It generated $11.97 million net income in the nine months ended September 30, up 1,792% on a yearly basis.

The stock was up 26% in the past 12 months.