Cannabis start-up Cantourage makes a strong stock market debut
The share price of cannabis start-up Cantourage was up 165 percent at the end of its stock market debut.
The Berlin cannabis start-up Cantourage had a very successful stock market launch on Friday. After the company's shares started at a price of 6.48 euros, they rose at times to 19.70 euros. At the end of the first trading day, they were trading at 17.20 euros, an increase of a good 165%. The good start clearly shows how high investors' expectations are in view of the ever closer legalization of cannabis in Germany.
The start-up is now listed on the Frankfurt Stock Exchange. Cantourage is now listed in the Scale segment. This is where the Frankfurt Stock Exchange lists small and medium-sized companies. A total of 15 percent of the company's shares are in free float.
Cantourage was founded in 2019 by Norman Ruchholtz, Florian Holzapfel and Patrick Hoffmann. The start-up sells cannabis flowers, dronabinol, cannabis extracts and CBD. The company also offers a cannabis import platform for Germany. According to the company, it has a market share of 20 percent for dronabinol in Germany. Dronabinol is another name for THC; the corresponding solutions are available in Germany as prescription drugs.
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