OGI Stock Surging
It’ll come as no surprise to my regular readers that I’m a big fan of OrganiGram Holdings Inc (NASDAQ:OGI). The impressive marijuana penny stock just listed on the Nasdaq, only the third pure-play marijuana stock to do so. I believe that, among the three, OrganiGram stock is the best suited for long-term gains for years to come.
Usually I would outline all the ways that OGI stock has the potential to be a high-yield stock for long-term investors. But much of that belief is predicated on things that are yet to happen (however likely their happening might be).
A good example was OrganiGram’s recent Nasdaq listing. I wrote for weeks that investors should expect the company to list on a major U.S. stock exchange. Then, lo and behold, that happened on May 21, much to the delight of marijuana stock market investors.
Chart courtesy of StockCharts.com
As you can see above, OGI shares have made some very impressive gains over the past few weeks since listing on the Nasdaq. That was to be expected, and it was something I predicted would happen following the stock’s move to that major exchange.
But today I’m taking a different approach; instead of planning for the long term, let’s take a look at why OrganiGram stock is poised for big gains in the near future.
The stock spiked high following its move to the Nadsaq, then it fell back to Earth.
Now it looks like OrganiGram is about to rebound from that mini-correction, and I believe it’s on its way to bigger gains in the coming weeks. What that means is, for investors looking to make a quick buck, the next month or so could be a very lucrative time to be an OGI stock owner.
The thing is, there is going to be a lot of momentum behind OrganiGram for a while yet. Couple that with the relatively strong position of the marijuana stock market as a whole, and you have a potent combination.
Of course, OGI’s gains could be side-tracked by unforeseeable events, like an overall industry downturn, but I don’t envision that happening.
Instead, I expect OrganiGram stock to rise another 10%–20% in the next month. For investors looking to get in and get out, now could be a good time to make that play.
With all that said, I would still say to investors that it might be good to sink their teeth into OGI stock and stick with it for the long haul. The company has a ton of potential that will be realized sooner rather than later, and for those willing to show some patience, I believe they could be well rewarded.
But for those looking to make a quick investment, OrganiGram stock is looking juicy. While I’m bullish on the future of this stock, day traders might be wise to give it a look while its Nasdaq bump is still in effect.