Cannasouth chief executive Mark Lucas has defended the pricing of the stock, which listed on the NZX today, saying the market would ultimately decide its value.

Shares in the research-based medical cannabis start-up, which were issued at 50c, first traded on the NZX at 51c but then swiftly fell away to 40 cents - down 20 per cent.

At 50c, some commentators have said the stock was overpriced.

Just before Cannasouth went "live" on the NZX, Lucas acknowledged that the pricing of the issue had been in the spotlight.

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"Yes, there has been some controversy or commentary around the issue