The cannabis market in the United States is becoming compelling with more states now legalizing both recreational and medical use of cannabis products. There’s plenty of room for expansion, but the stock selection is still sparse. For investors wanting a stake in the market, Canadian companies are a better option. OrganiGram Holdings Inc. (NASDAQ: OGI) is a producer and distributor of medical marijuana in Canada. It offers unique cannabis strains, vaporizer products, and cannabis oils.
For the fiscal fourth quarter, the company reported a loss of $0.03 per share, an improvement over its loss of $0.05 per share a year ago. Revenue came in at $15.19 million, compared to $12.29 million a year ago. Earnings are steadily increasing with the company moving towards bottom-line profitability. Earnings are expected to increase by as much as 86% over the next year.
The cannabis market is highly speculative. However, Canada’s full legalization and increased state-level legalization in the U.S. is making the bargain picks more viable. OrganiGram has momentum over the last three months. For investors looking for an affordable pick and an entry point into the market, this is one of the best options available today. Analysts believe the stock is trading by as much as 76% below its fair market value, hinting that a strong upside is possible.
- 1 Year Price Growth: -45.53%
- YTD Price Growth: -42.86%
- 3 Month Price Growth: 64%
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