Geometry Dash APK Hill Climb Racing APK
34.9 F
New York
Saturday, December 10, 2022

Aphria Inc (NYSE:APHA) Stock Back in Action After Solid Quarterly Earnings

Must read

Is Tilray Inc (NASDAQ:TLRY) Stock a Good Buy After The Recent Fall?

The cannabis sector may have had a hard time not too long ago but over the course of the past months, the...

Sysorex Inc (OTCMKTS:SYSX) Stock Still Riding Big News

Investors are always drawn to stocks that make a big jump out of nowhere. So it's no surprise that Sysorex Inc (OTCMKTS:SYSX)...

88 Energy Limited Ltd (EEENF) Update: Continues Climbing on Significant Volume

Investors who might be looking for stocks that have made considerable gains in recent weeks could consider having a closer look at...

Victory Resources Corporation (OTCMKTS:VRCFF) Stock Rockets After Announcing A New Acquisition

Nowadays, lithium is in huge demand across several industries and hence, it the rally in the Victory Resources Corporation (OTCMKTS:VRCFF) stock the...

Over the past year or so, Aphria Inc (TSX:APHA) (NYSE:APHA) has emerged as one of the more promising companies in the cannabis sector, and on Wednesday, the company released its financial results for its most recent quarter. The company’s sales soared by as much as 65% in the quarter, and that resulted in a rally in the Aphria stock.

Key Triggers

On Wednesday, Aphria stock went up as much as 14% but ended higher by 4%. However, investors should also keep in mind that the company’s CFO Carl Merton withdrew Aphria’s projections for the full year. The full-year revenue guidance had been set in the C$575 million to C$625 million.

During the conference call yesterday, Merton said that the company was unable to accurately forecast the full-year revenues in light of the chaos brought about by the coronavirus pandemic. In addition to that, it is important to mention that the financial year concludes in May for Aphria, and the company had already cut its forecasts in the second quarter.

The coronavirus pandemic has resulted in widespread lockdowns, and key provinces like British Columbia, Alberta, and Ontario were closed from deliveries at the end of March for a week. Many of the states have decided against making purchases at all.

For instance, the most populous state Ontario canceled purchases for two weeks due to the coronavirus crisis. British Columbia has closed its stores, and on the other hand, Alberta has dialed down it’s ordering by as much as 40% due to the current situation. However, Quebec has proven to be a glimmer of hope for many companies. Merton said that sales at regular retail stores soared by 40%, and online sales jumped by 200% since the lockdowns went into effect.

Aphria has taken some important steps to tackle the situation as well. It has put a stop to any fresh capital expenses and in addition to that, cut its marketing budget by as much as C$4 million in Q4.

Latest article

Alibaba Group Holding Limited (OTCMKTS:BABAF) Big Volume with Possible 60% Upside

Alibaba Group Holding Limited (OTCMKTS:  BABAF) is an over the counter stock traded on the OTC Pink markets in the Consumer Discretionary...

Trans Global Group Inc (OTCMKTS:TGGI) Stock In Focus After Operational Updates

The Trans Global Group Inc (OTCMKTS:TGGI) stock may not have been in the news today yet but it...

Why Hycroft Mining (NASDAQ:HYMC) Stock Shot Up 700%

If you are on the hunt for stocks that may have made major gains over the course of the past week, then...

Secure Paymentz releases banking software demo on Github

This is a paid announcement from one of our advertising partners. How to Leverage Your Trading Position by Secure...

Advanced Asset Management Announces New Website Launch

This is a paid announcement from one of our advertising partners. Financial Planner in Grandville, Michigan
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