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

Organigram Holdings (TSX:OGI) (NASDAQ:OGI) Attempts to Recover: Is it Sustainable?

Must read

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...

Healthier Choices Management Corp (OTCMKTS:HCMC) Heats Up: WallStreetBets at it Again

At the mid-point of the trading week, it is often prundent for investors to take stock of the market and take a...

Is Enzolytics Inc (OTCMKTS:ENZC) Making All The Right Moves in 2021

When a stock makes massive gains over a reasonable period of time, then it is necessary for investors to perhaps looking into...

The cannabis industry has struggled considerably over the past months, and cash crunch has been one of the recurring problems for many companies. In a new development, Organigram Holdings (TSX:OGI) (NASDAQ:OGI) announced on Wednesday that it is going to make an offering of its shares in a fresh at market price sale program.

Major Developments

It has emerged that the cannabis company is going to sell as many as C$49 million worth of shares in two of the exchanges on which it is listed. Interested parties will be able to participate in the aforementioned sale through the Toronto Stock Exchange and NASDAQ.

If the company exercises its full authorization, then it would be able to sell as many as 23 million shares at the going market price of the stock. According to publicly available data, Organigram currently has a bit over 173 million outstanding shares in the United States. The company published a press release regarding the matter.

In the press release, Organigram stated that the fresh capital is going to be used to fund new capital expenditures, take care of debts, and also for general corporate purposes. This sort of secondary share sale has now become quite common in the cannabis industry.

However, it should be noted that Organigram still remains one of the more promising companies in the industry, and investors could consider having a closer look at its stock. While it is true that the coronavirus pandemic might have a major effect on its third-quarter performance, investors should keep in mind that Organigram has the financial wherewithal to tide over the current crisis.

Investors who are interested in a long term investment in the cannabis industry could consider putting OGI on their watch lists. The fact that the company is known for running one of the most efficient operations in the industry is also a reason why it is a stock that could be ideal for the long term.

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. Affordable best sms verification service