This post first appeared on Micro Cap Daily

Organigram Holdings, Inc. (OTCQX: OGRMF) stock price has seen a significant decline in 2018, but thankfully, the company is currently experiencing a rather sharp rise. The growth had started in the final days of December 2018, and it kept going with minimal interruptions ever since. Of course, it did suffer minor corrections after attempting to breach major resistances, although it would return every time with new strength, turning the resistance into its new support.

The first resistance that it faced was at $5, and the price reached it after surging from $3 in early January. However, the resistance was broken before the month had ended. The next one sat at $6, and it actually caused a decline in early February, forcing the price to return to its resistance-turned-support at $5. However, this level was also breached in mid-February, and the price continued its way up to $7. It struggled with this one a lot longer — through the entire March and April, with occasional breaches that were eventually nullified by new corrections. However, this resistance fell also, in the final days of April, as the price surged to $8. In the first days of May, this resistance caused another decline, which is where we find the price now — still struggling to stop the drop and return to growth.

What you need to know about Organigram Holdings

Organigram Holdings is a TSX Venture Exchange listed firm that owns a single, major subsidiary, Organigram Inc. This subsidiary is the company’s greatest gem, as it acts as a licensed producer of medical marijuana in Canada.

The production of medical marijuana went big in Canada with the revolution of the cannabis industry, and the company used this to enhance its position and reach greatness. Its major focus lies in the production of the highest quality, condition-specific medical marijuana for Canadian patients.

The firm’s main facility within the country is located in Moncton, New Brunswick. Meanwhile, the firm itself is fully regulated by the Marihuana for Medical Purposes Regulations.

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Organigram’s rapid progress in 2019

As mentioned, the company had struggled a lot in 2018. For a long time, its price could not breach the resistance at $4, until it finally saw a surge in mid-August, which led its’ price to $6. This, however, also ended in mid-October, and the price reached its bottom at $3 in late December, which was followed by another surge — one that is still on-going.

The company started the year by making Edison Cannabis the first legal brand to provide humidity control units for flower products. This brought it to the attention of the public, and the company continued with its plan to start cannabis edibles through a partnership with Canada’s Smartest Kitchen.

Then, in late January, the firm locked up the supply of hemp-derived CBD by entering a long-term agreement with an industrial hemp research firm, 1812 Hemp. The company also started an enhanced OrganiCare program, which served to improve compassionate care access for Canadian patients.  In the last days of January, the company had reported massive growth in its net revenue, which surged by 287%.

Now in the center of the attention, the company entered a multi-year cannabis extraction agreement with Valens GroWorks Corp., and it reached a million pre-rolls. All of this was just the company’s January 2019. In February, it released unprecedented virtual reality tour of Moncton Campus, and it ranked as 4th best-performing stock on OTCQX.

It also entered all 10 Canadian provinces in February, and it converted $98 million debentures into common shares. In early April, the company released a cross-platform mobile app for patients, and it appointed a new Chief of Staff, among other management changes. In late April, the company announced application to list on Nasdaq, which is likely the reason why its stock price easily breached the resistance at $7 with which it struggled for the past two months.

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It is clear to anyone that the company is advancing rapidly, and that there is no telling how high its stock price might go. Due to the huge demand, its products are selling all the time, and the stock price mirrors the firm’s importance. Investing early would have been a great choice, but now is not too late either, as the firm will likely start recording new growth in no time. We will be updating on Organigram when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Organigram.

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

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This post first appeared on Micro Cap Daily

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