Cannabis startup Cantourage makes strong stock market debut
Jan Schulte
| 14.11.2022
The share price of cannabis start-up Cantourage was up 165 percent at the end of its stock market debut.
Berlin-based cannabis start-up Cantourage had a very successful stock market debut on Friday. After the company's shares started at a price of 6.48 euros, it rose at times to 19.70 euros. At the end of the first trading day, they were trading at 17.20 euros, up a good 165 percent. 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 securities market. Cantourage is now in the Scale segment there. 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 startup sells cannabis flowers, dronabinol, cannabis extracts and CBD. In addition, the company offers a cannabis import platform for Germany. For dronabinol, the company says it has a 20 percent market share in Germany. Dronabinol is another name for THC, and the corresponding solutions are available in Germany as prescription drugs.
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