CannTrust Holdings Inc. (CNTTQ)

[Johnk59]

Why Canntrust Tanked

https://finance.yahoo.com/news/why-canntrust-holdings-stock-sinking-160828567.html

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CannTrust's cash raise is a bummer

Finally, shares of CannTrust Holdings dropped 13%. The Canadian cannabis company priced a previously announced secondary offering of stock this morning, but demand among investors was so weak that it had to cut its price by more than 15% compared to where the shares closed on Wednesday night to get the deal done. In the end, CannTrust sold 30.9 million shares at $5.50 per share, with current shareholders adding another 5.45 million shares to the sale. Although that'll give the marijuana company about $170 million to use toward expanding capacity, it comes at the cost of dilution for CannTrust's current shareholders.