This evening S&P Dow Jones Indices released the rebalancing results for the S&P/TSX Composite Index. The changes will be effective prior to the open of trading on Monday, Sept. 23, 2019.
The S&P/TSX Composite Index is the benchmark Canadian index, representing roughly 70% of the total market capitalization on the Toronto Stock Exchange with about 250 companies included in it. It was speculated weeks ago that CannTrust was likely to lose their inclusion in the index.
This is a large blow for the Canadian License Producer who has recently had their inventory seized from Health Canada for illegally producing cannabis in unlicensed grow rooms.
In one of our favorite pieces, we reviewed former CEO Peter Aceto’s book last month.
CannTrust is down approximately 85% from it’s 1 year high.
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