|Bid||2.0500 x N/A|
|Ask||2.0700 x N/A|
|Day's Range||2.0100 - 2.0900|
|52 Week Range||1.5400 - 9.0600|
|Beta (5Y Monthly)||1.81|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul. 21, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||4.56|
OrganiGram (OGI) is expected to have benefited from its focus on building brand equity and product launches in the fiscal third quarter despite pandemic-hit business conditions.
If you're looking for two cheap pot stocks to buy, Aurora Cannabis (NYSE: ACB) and OrganiGram Holdings (NASDAQ: OGI) could be good options. Is Aurora Cannabis finally on the right path? Aurora's been one of the riskier buys in the cannabis industry, but there's hope that the Alberta-based cannabis producer is turning things around.
Retail cannabis sales in Canada have rebounded from a brief dip in February, but Organigram (NASDAQ: OGI) stock hasn't followed. Organigram might look like a bargain at its depressed price, but there's a chance the company will disappoint investors again before the end of the month. Organigram recently postponed its fiscal third-quarter earnings report until Jul. 21, 2020, but still provided a disappointing snapshot of the top line figures.
Canadian marijuana grower and producer OrganiGram Holdings (NASDAQ: OGI) is downsizing. At the moment, 84 OrganiGram employees have been furloughed. Regarding the new reductions, OrganiGram wrote in the update that "[t]hese decisions are never easy to make, but we are committed to ensuring the Company is appropriately sized relative to market conditions."
Will the potential of cannabis derivatives products push these two cannabis companies towards growth this year?
TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:Toronto Stock Exchange (15,596.75, down 25.65 points.)Harte Gold Corp. (TSX:HRT). Materials. Up three cents, or 23.08 per cent, to 16 cents on 4.7 million shares.The Bank of Nova Scotia (TSX:BNS). Financials. Up 54 cents, or 0.96 per cent, to $57 on 4.4 million shares.StageZero Life Sciences Ltd. (TSX:SZLS). Health care. Down half a cent, or 8.33 per cent, to 5.5 cents on 3.4 million shares.Moneta Porcupine Mines Inc. (TSX:ME). Materials. Down 2.5 cents, or 12.82 per cent, to 17 cents on 2.7 million shares.The Toronto-Dominion Bank (TSX:TD). Financials. Up five cents, or 0.08 per cent, to $60.65 on 2.5 million shares.Crescent Point Energy Corp. (TSX:CPG). Energy. Up six cents, or 2.69 per cent, to $2.29 on 2.2 million shares.Companies in the news:Organigram Holdings Inc. (TSX:OGI). Down 16 cents or 7.3 per cent to $2.03. Organigram Holdings Inc. is laying off at least 220 employees — and is warning more bad news could be on the way. The Moncton-based cannabis company said Friday the cuts will impact a quarter of its staff, but make the workforce leaner, more flexible and better prepared to align its production capacity with market conditions. The cuts will leave Organigram with a total workforce of 609 employees including 84 staff members who were previously temporarily laid off, but may be recalled if the company requires them. Organigram also said it will work to "right-size" production and review its assets. Both could cause Organigram to report a decline in net revenue in its forthcoming third quarter and incur writedowns on inventory and its Moncton facility, the company warned.Le Chateau Inc. (TSXV:CTU). Up 1.5 cents or 37.5 per cent to 5.5 cents. Le Chateau Inc. says it has started the manufacturing of up to 500,000 hospital gowns in partnership with Logistik Unicorp Inc. and its contract with the federal government. The retailer says all the gowns will be made in Canada. Le Chateau is a retailer and manufacturer of clothing, footwear and accessories for women and men. The company says it has historically manufactured about 30 per cent of its clothing in its own Canadian production facilities and is using them to produce the order. It is the latest Canadian firm to shift gears and start producing personal protective equipment for health care workers. Other clothing companies that have made the switch include Samuelsohn, Canada Goose and Arc'teryx.This report by The Canadian Press was first published July 3, 2020.The Canadian Press
Organigram Holdings Inc. is laying off at least 220 employees — and is warning more bad news could be on the way.The Moncton-based cannabis company said Friday the cuts will impact a quarter of its staff, but make the workforce leaner, more flexible and better prepared to align its production capacity with market conditions."These decisions are never easy to make, but we are committed to ensuring the company is appropriately sized relative to market conditions," Organigram chief executive Greg Engel said in a statement.The cuts will leave Organigram with a total workforce of 609 employees including 84 staff members who were previously temporarily laid off, but may be recalled if the company requires them.Organigram also said it will work to "right-size" production and review its assets.Both could cause Organigram to report a decline in net revenue in its forthcoming third quarter and incur writedowns on inventory and its Moncton facility, the company warned.It also announced that for the foreseeable future Organigram will continue to cultivate less cannabis than its Moncton operation was designed to produce.The company will instead focus on using new strains of plants to meet emerging consumer demand.Organigram's cuts come as a handful of other Canadian cannabis companies including Aurora Cannabis Inc. and Canopy Growth Corp. have also turned to restructurings, writedowns and layoffs in an effort to keep their companies afloat.This report by The Canadian Press was first published July 3, 2020.Companies in this story: (TSX:OGI, TSX:ACB, TSX:WEED)Tara Deschamps, The Canadian Press
Organigram Holdings Inc. ("Organigram" or the "Company") (TSX: OGI) (NASDAQ: OGI) provides a corporate update on recent developments of the Company in relation to the worldwide COVID-19 pandemic and the continuing evolution of the Canadian cannabis industry.
OrganiGram has outperformed broader markets in the last five years. Can it continue to do so in the upcoming decade?The post If You Had Invested $500 in OrganiGram Stock 5 Years Back, It Would Be Worth This Much Today! appeared first on The Motley Fool Canada.
Here's why cannabis investors should buy profitable stocks such as Aphria (TSX:APHA) and OrganiGram (TSX:OGI) right now. The post Ranking 3 Top Marijuana Stocks for 2020 appeared first on The Motley Fool Canada.
Here's why OgraniGram (TSX:OGI)(NASDAQ:OGI) stock might continue to underperform markets in 2020The post Is OrganiGram (TSX:OGI) Stock a Buy Right Now? appeared first on The Motley Fool Canada.
Shares of OrganiGram Holdings (NASDAQ: OGI) were 7.8% higher as of 11:44 a.m. EDT on Friday after rising as much as 11.5% earlier in the day. You can chalk the gain up to the overall stock market rebound after Thursday's big sell-off. There's one thing investors should do based on OrganiGram's move today: nothing.
Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), the parent company of Organigram Inc. (the "Company" or "Organigram"), a leading licensed producer of cannabis, today announced that it has entered into a multi-year agreement for supply of dried flower to one of Israel’s largest and most established medical cannabis producers, Canndoc Ltd. ("Canndoc"), a subsidiary of InterCure Ltd. (TASE: INCR/INCR.TA).
Aphria (NYSE: APHA) and OrganiGram (NASDAQ: OGI) are two Canadian cannabis producers that have struggled over the past year. OrganiGram's even done considerably worse than the Horizons Marijuana Life Sciences ETF (OTC: HMLSF), which is down 60% over the same period. Let's take a closer look at these two stocks to see whether the larger decline in price makes OrganiGram a better value buy, or if the divide between the two pot stocks will become even larger this year.
A pair of marijuana stocks, Tilray (NASDAQ: TLRY) and OrganiGram Holdings (NASDAQ: OGI), both dropped notably in price on Friday (by 5.2% and 7%, respectively). The culprit seems to be another weed title, Canopy Growth (NYSE: CGC), which earlier in the day published an awful quarterly earnings release. Canopy Growth is a leading company in the sector.
Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), the parent company of Organigram Inc. (collectively, the "Company" or "Organigram"), a leading licensed producer of cannabis, is pleased to announce that the Company has amended its credit agreement dated May 31, 2019, with Bank of Montreal ("BMO") as lead arranger and agent as well as a syndicate including three other lenders (the "Credit Agreement Amendment"). The Credit Agreement Amendment modifies certain terms of the $115 million term loan (the "Term Loan") and $25 million revolving credit facility (the "Revolver", and together with the Term Loan, the "Facilities").
Shares of Organigram Holdings (NASDAQ: OGI) were flying on Thursday after the company said it was rolling out its "cannabis 2.0" products to its medical marijuana customers. As of 3:27 p.m. EDT, Organigram's stock was up more than 12%. Cannabis 2.0 is a term used to describe second-generation marijuana products such as edibles and beverages, as opposed to cannabis 1.0 products like dried flower.
Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), the parent company of Organigram Inc. (the "Company" or "Organigram"), a leading licensed producer of cannabis, is pleased to announce that as of May 19th, 2020, the Company has extended its medical cannabis offering to include products from its cannabis 2.0 adult-use recreational portfolio.
No matter how dire things may have appeared in previous bear markets, bull-market rallies eventually erase all evidence of downward moves in the stock market. Also keep in mind that you don't have to be rich to generate a handsome return from the stock market. With the exception of the oil and gas industry, there's probably not a harder-hit industry lately than bank stocks.
Shares of Aurora Cannabis (NYSE: ACB) sank on Wednesday after analysts raised concerns that the popular marijuana stock's price gains may have come too far, too fast. As of 3 p.m. EDT, Aurora's stock was down more than 12%. Aurora's shares surged as much as 180% following the cannabis producer's better-than-expected third-quarter sales results on May 14.