Geometry Dash APK Hill Climb Racing APK
47.2 F
New York
Wednesday, January 19, 2022

The Fireworks Show is on in OrganiGram Holdings Inc (OTCMKTS:OGRMF)

Must read

Medmen Enterprises Inc (OTCMKTS:MMNFF) Pulls Back From Highs as Buzz Cools Off

Among the sectors which have bounced back in 2021, the cannabis sector is one of considerable interest since it had been in...

VirtualArmour International Inc (OTCMKTS:VTLR) Jumps Another 250% This Week

Not every move in the stock market can always be explained and hence, investors are often rightly confused when a stock records...

Ozop Energy Solutions Inc (OZSC) is Riding a Green Wave of Momentum

Investors who are looking for fresh opportunities in rising stocks may have a lot to choose from at this point but it...

Drone Delivery Canada Corp (OTCMKTS:TAKOF) is Soaring after Roadmap Update

The drone industry has grown at a remarkable rate over the past five years or so and hence, it is no surprise...

The fireworks are back in the cannabis patch, with big moves afoot, including a massive recent breakout in shares of OrganiGram Holdings Inc (OTCMKTS:OGRMF). We have been exhaustively on record as big fans of the longer-term potential here. To add some clear color to the story, the company just announced its first quarter results for fiscal 2019. According to the release, the company’s fiscal first quarter encompasses operations up to and including November 30, 2018 and as a result, includes the impact on revenue of adult-use recreational cannabis for part of the quarter, which was legalized on October 17, 2018.

“The first quarter of 2019 is just the start of what we expect to be a year of tremendous growth,” said Greg Engel, the Company’s Chief Executive Officer. “We’ve always believed the Moncton Campus would be a competitive advantage for us being able to produce high-quality indoor-grown product at low cash cost of cultivation.  Our first quarter results confirmed that as we reported an adjusted gross margin of 71%.”

OrganiGram Holdings Inc (OTCMKTS:OGRMF) casts itself as a company that produces and sells medical marijuana to individuals and physicians in Canada. It offers marijuana plants, seeds, and cuttings; cannabis oil; and dried flower and cannabis.

The company sells its products through phone and online store. It also operates healing centers that offer treatments for post-traumatic stress disorders, chronic pain, and trauma therapy. In addition, the company exports its products.

OrganiGram Holdings Inc. was founded in 2013 and is based in Moncton, Canada.

Moreover, OrganiGram Holdings Inc. is a TSX Venture Exchange listed company whose wholly owned subsidiary, OrganiGram Inc., is a licensed producer of medical marijuana in Canada. OrganiGram is focused on producing the highest quality, condition-specific medical marijuana for patients in Canada.

OGRMF’s facility is located in Moncton, New Brunswick and the Company is regulated by the Access to Cannabis for Medical Purposes Regulations.

According to company materials, “From the day we started back in 2013, it’s been about making lives better – for our clients, our people, and our community. We’re based in Moncton, New Brunswick, the heart of the Maritimes, but at OrganiGram Holdings we’re committed to improving the quality of life for Canadians across the country. For us, this means working with health-care providers and industry organizations, supporting research and education, and providing a safe, effective product. To be effective in that last goal, we made a decision to produce organic cannabis. Growing certified organic medical cannabis isn’t easy, in fact, most licensed producers won’t take this on. It means more care, more testing, more rules… but in the end, it means a product that we feel delivers on our goals in the best way. And improving the quality of life for Canadians is not just about getting safe, quality product to them effectively. It’s about creating jobs, being good neighbors and contributing to our community.”

Find out when $OGRMF reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

As noted above, OGRMF just announced its first quarter results for fiscal 2019, including record net sales from continuing operations for the three months ended November 30, 2018 (Q1’2019) of $12.4 million, up 419% from $2.4 million in Q1’2018, and up 287% from $3.2 million in Q4’2018.

In all, traders will note 62% tacked on to share pricing for the stock in the past month. In addition, the listing has seen interest climb, with an increase in recent trading volume of 87% beyond what we have been seeing over the larger time frame.

“While we continue to work hard to take advantage of our enviable inventory build to drive increased sales we are already well underway preparing for the derivative and edibles launch during the fall of 2019,” remarked Greg.

Now commanding a market cap of $722.03M, OGRMF has a significant war chest ($130.1M) of cash on the books, which stands against about $11.3M in total current liabilities. OGRMF is pulling in trailing 12-month revenues of $13.3M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 49.7%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $OGRMF 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 $OGRMF, either long or short, and we have not been compensated for this article.

Latest article

iQSTEL Inc (OTCMKTS:IQST) Stock Makes a Big Move: Jumps 45% In a Week

In the past week, iQSTEL Inc (OTCMKTS: IQST) has emerged as a point of focus among a large number of investors and...

HUMBL Inc (OTCMKTS:HMBL) Stock Sees Big Bounce After Recent Slump

Since the beginning of 2021, HUMBL Inc (OTCMKTS:HMBL) had been one of the major movers from among penny stocks and had come into...

Dividend Stocks to Buy Now

A classic mistake that investors make when looking for dividend stocks is to just go for the biggest dividend yield. It makes...

88 Energy Ltd (OTCMKTS:EEENF) Stock Surges 40% But Can’t Hold Gains

The oil and gas company 88 Energy Ltd (OTCMKTS:EEENF) seems to have come back on to the radars of investors over the...

Net Savings Link Inc (OTCMKTS:NSAV) Stock is Getting Pummeled Again

Nowadays there are plenty of options for investors when it comes to making investments in the cryptocurrency and...
Şehirler arası nakliyat ve Şehirler arası taşımacılık konusunda en uygun fiyatlar ve en kaliteli hizmet.
ofis taşıma firmaları ve ofis taşıma konusunda en uygun fiyatlar ve en kaliteli hizmet.
SmsVerifyer.com Affordable best sms verification service