This post first appeared on Micro Cap Daily
Organigram Holdings, Inc. (OTCQX: OGRMF) has seen a massive increase in its stock price during the past four months. The company has certainly been one of the top performers in the field. After an initial surge in mid-August, the firm’s stock reached the price of $6 in mid-September. It kept struggling to overcome this resistance, mostly remaining between $5 and $6 for about a month. However, in mid-October, it saw a drop that took it down to $4. The decline continued in November and December when the price slowly sank to $3.
The final days of December 2018 brought a massive change, however, with the price surging back up, breaking one resistance after another in following months. On occasion, the price would experience a mild correction, always after reaching a strong resistance, with the one at $7 being the strongest one. However, this one was breached in late April as well, and the price is currently growing by 1.63%, sitting at $7.2663 at the time of writing.
About Organigram Holdings
Organigram Holdings, Inc. is a TSX Venture Exchange listed firm, which only has a single wholly-owned subsidiary, Organigram Inc. However, this subsidiary holds major importance, as it is a licensed producer of medical marijuana in the Canadian market.
Organigram itself focuses on the production of the high-quality condition-specific medical marijuana that is delivered to patients living in Canada. The company’s main facility is located in Moncton, New Brunswick. In addition, the firm is regulated by Marihuana for Medical Purposes Regulations.
The company makes a significant effort to provide only the highest-quality product, with strict rules and guidelines regarding every aspect of growth, including the soil, fertilizer, inspections, and more. The firm is also well aware of the fact that different strains work in a different way for different clients, which is why it aims to help its clients explore various options and discover differences between various products.
All in all, the firm has been very successful in the last six years, since its creation, and it made lives better for their clients, community, as well as its shareholders.
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Organigram Holdings sees massive success in 2019
As mentioned earlier, the company started seeing massive success as far back as in August 2018. The surge of its stock price came right after the firm became an official cannabis supplier to the Province of Ontario, which is the largest adult recreational market in Canada. The stock price remained high until mid-October last year, and it started dropping after the firm completed the sale of Trauma Healing Centers to another firm, Harvest Medicine Inc.
The drop continued despite numerous positive moves that the company had made, including the acquisition of 25% of alpha-cannabis Pharma GmbH, or the expansion which allowed it to supply cannabis coast to coast.
The growth then started anew in late December, and it kept surging ever since. Meanwhile, the company continued with its plan to launch cannabis edibles, partnering with Canada’s Smartest Kitchen as part of the process. It also started an enhanced OrganiCare program to improve compassionate care access for patients in Canada.
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It also entered a multi-year cannabis extraction agreement with Valens Groworks Corp., after which its stock got ranked as the 4th best-performing one on OTCQX. The firm got its own mobile app in early April, it brought new additions to its executive team, and it announced application listing on Nasdaq. The company has definitely been one of the best performers in the cannabis industry, and while its stock price is known to see an occasional decline — Organigram remains one of the best investment opportunities in the cannabis industry right now. 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