Marijuana News Today
Following strong second-quarter results, we’re seeing OrganiGram Holdings Inc (OTCMKTS:OGRMF, CVE:OGI) continue to climb. The marijuana news today shows OrganiGram stock continuing to benefit from the strong financial report.
“We are incredibly proud of what we have achieved in Q2 as we registered record sales and a profit for the quarter,” said OrganiGram CEO Greg Engel. (Source: “Organigram Announces Record Q2 Financial Results – Net Income of $1.1 Million,” OrganiGram Holdings Inc, April 24, 2018.)
“But we have also significantly bolstered our balance sheet and from an operational and sales and marketing perspective we are well positioned to take full advantage of not only the medical market but also the burgeoning adult recreational and international opportunities as well.”
The company showed record net sales for both the three-month and six-month periods that the financial report covered.
OrganiGram stock was also boosted as a result of the company’s record sales of cannabis oil for both periods.
Furthermore, the Q2 earnings showed that OrganiGram was able to achieve its highest yields per plant yet, with the company projecting increased efficiencies in production for Q3 and therefore expecting that it can top its record.
Chart courtesy of StockCharts.com
The company also had 13,000 registered medical patients by the end of the quarter.
All in all, OrganiGram stock has finally begun to pick up as a result of these extremely strong numbers.
The company has seen a two-percent jump in value since the financial report was released, with the potential for more gains down the road.
The report reinforces the potential that many investors see in OrganiGram stock, believing it to be one of the more solid companies in the industry due to its price-to-earnings (P/E) ratio being one of the better in the business.
OrganiGram stock is in the marijuana news today because it was able to finally turn last week’s strong numbers into stock gains. If the company is able to meet its projected goals, then OrganiGram may be gearing up for another strong run in the next few months.
Despite the positive numbers coming out of the report, OrganiGram stock was unable to see an immediate boost in the days that followed.
But the marijuana news today reflects the long-term projections for the company, which are rosy and only getting rosier if it continues to hit these high marks in its financial earnings.