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Friday, November 27, 2020

Support Holds in Aphria Inc (OTCMKTS:APHQF)

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As we noted in our most recent piece, it was important to keep a close eye on Aphria Inc (OTCMKTS:APHQF). Now, a few days later, we are seeing the stock rip back higher, blasting as much as 20% on Wednesday alone. The move is a snapback rally to retake key technical support at the $7.50 level.

To help fuel the action, the company announced they have signed a Letter of Intent to form a joint venture to collaborate on the development of new products, brands and product categories that will drive the evolution of the Canadian adult-use cannabis market. According to the release, “It is expected that a definitive agreement formalizing the joint venture will be finalized within the coming weeks.”

Aphria Inc (OTCMKTS:APHQF) bills itself as a company that produces, supplies, and sells medical cannabis in Canada. Its cannabis products include dried flowers and cannabis oils. APHQF sells its products through its online store and telephone orders, as well as MMPR licensed producers.

The company offers sativa, indica, and hybrid medical marijuana products, as well as cannabis oils. It also provides support services in the form of medical consultations, group therapies, and rehabilitation to veteran and first responders.

The company sells its products through its online store or phones, as well as engages in the wholesale shipping of medical marijuana plant cuttings and dried buds to other licensed producers. Aphria Inc. is headquartered in Leamington, Canada.

According to press materials, “APHQF is one of Canada’s lowest cost producers, produces, supplies and sells medical cannabis. Located in Leamington, Ontario, the greenhouse capital of Canada. APHQF is truly powered by sunlight, allowing for the most natural growing conditions available. We are committed to providing pharma-grade medical cannabis, superior patient care while balancing patient economics and returns to shareholders. We are the first public licensed producer to report positive cash flow from operations and the first to report positive earnings in consecutive quarters.”

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Recent action has seen 6% tacked on to share pricing for the name in the past week, a rally that has pushed up against longer standing distributive pressure in the stock. Moreover, the stock has benefitted from a jump in recent trading volume to the tune of 30% over the long run average.

“Aphria has developed a portfolio of thoughtfully researched and crafted adult-use brands that we are confident will resonate with consumers out of the gate come October 17,” said Megan McCrae, Vice President of Marketing at Aphria. “Collaborating with Perennial, one of the best brand houses in North America, will ensure we continue to lead the consumer experience as the industry evolves and we expand our portfolio to include a range of cannabis-infused products.”

“Aphria is not standing still as the opening bell for adult-use cannabis approaches,” said Vic Neufeld, Chief Executive Officer of Aphria. “We are rapidly advancing our strategic innovation plans on multiple fronts, including with this JV and our recently announced Extraction Centre of Excellence. Aphria has the infrastructure, know-how and capacity to deliver on adult-use market commitments in year one and beyond, and we’re using that found

Currently trading at a market capitalization of $1.56B, APHQF has a significant war chest ($119.4M) of cash on the books, which stands against about $8.6M in total current liabilities. One should also note that debt has been growing over recent quarters. APHQF is pulling in trailing 12-month revenues of $30.6M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 100.6%. We will update the story again soon as further details emerge. Sign-up for continuing coverage on shares of $APHQF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $APHQF, either long or short, and we have not been compensated for this article.

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