The latest announcement is out from OrganiGram Holdings ( (TSE:OGI) ).
Organigram Global Inc., Canada’s leading cannabis company, congratulates Prime Minister Mark Carney on his election win and urges the new government to recognize the cannabis sector as a key component of Canada’s economic growth strategy. The company calls for reforms in taxation, elimination of interprovincial trade barriers, and the development of a national cannabis export strategy to enhance the sector’s financial viability and competitiveness against the illicit market. Organigram highlights the significant economic contributions of the legal cannabis industry, which has added over $43 billion to Canada’s GDP and supports more than 80,000 jobs, advocating for government support to unlock the sector’s full potential.
Spark’s Take on TSE:OGI Stock
According to Spark, TipRanks’ AI Analyst, TSE:OGI is a Neutral.
OrganiGram Holdings faces significant financial challenges, with ongoing profitability issues and negative cash flows. However, strong market share growth and strategic expansions provide some optimism. The technical indicators suggest caution, and the valuation is currently unattractive due to negative earnings.
To see Spark’s full report on TSE:OGI stock, click here.
More about OrganiGram Holdings
Organigram Global Inc. is a NASDAQ and TSX listed company engaged in the cultivation, processing, and manufacturing of cannabis and cannabis-derived goods in Canada. The company focuses on high-quality cannabis for adult recreational use and has developed a portfolio of brands such as Edison and SHRED. It operates facilities in New Brunswick, Quebec, Manitoba, and Ontario, and is regulated by the Cannabis Act and Regulations in Canada.
YTD Price Performance: -32.53%
Average Trading Volume: 879,278
Technical Sentiment Signal: Buy
Current Market Cap: $141.4M
Find detailed analytics on OGI stock on TipRanks’ Stock Analysis page.