Is Organigram (OGI) Stock Ready To Hit New Highs After Earnings?

Cannabis stocks are back in the conversation again among investors this year due to renewed optimism about the sector and one of the stocks to have garnered considerable attention recently is that of Organigram Holdings Inc (NASDAQ: OGI).

Organigram stock has rallied strongly this year so far despite the relatively unimpressive performance from Organigram on the business front. The stock got a significant boost last month after it was announced that British American Tobacco was going to make an investment in Organigram.

As per the announcements, British American Tobacco’s strategic investment in the company was going to be to the tune of CA$221 million. In exchange, it will take up a 20% stake in the company. While the excitement around the strategic investment is understandable, it is necessary to note that Organigram does not run a profitable operation yet. Hence, it might be a bit too optimistic to expect that this investment is going to trigger a turnaround.

Uson Abdilazhanov

Editor and Computer ExpertA hardcore tech enthusiast and computer expert Uson Abdilazhanov who holds a degree in communications started writing in his personal blogs since 2012. That time he was interested in the technical part of the computer. But now the software aspect plays an important role in his career. Currently, he runs a PC building and repairing shop which helps a lot of designers and gamers who always like to try new things.

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