Why Marijuana Stock OrganiGram Popped 8% Today
Shares of Canadian cannabis grower OrganiGram Holdings (NASDAQ: OGI) closed up 7.9% on Monday, bucking the post-holiday doldrums that enveloped the broader market and the marijuana sector.
HIGHLIGHTS
- OrganiGram is no one-day wonder, however, as shares gained 80.5% in the first half of this year.
- We attribute OrganiGram’s gain today to favorable comments that former Canopy Growth co-CEO Bruce Linton made about it in an interview with CNBC last Wednesday, July 3.
- OrganiGramcan is considered a second-tier grower, on track to produce 113,000 kilos a year by the end of 2019.
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