OrganiGram is rapidly gaining a stronger position in the cannabis market
The cannabis sector began to make a strong recovery starting in February of this year. Still, several stocks have not been able to keep up due to various challenges. Such has been the case with industry leader Canopy Growth and its peers Aurora Cannabis and Cronos, which reported results that were less than satisfactory. However, despite some not-so-good news, a relatively unknown marijuana stock that has been kept in the shadows could go on to have much better results and profits than the names that have always been recognized. OrganiGram is a company that, if it manages to successfully execute its growth plans, could take an important place in the cannabis industry.
Today, OrganiGram is still small compared to Canopy Growth, but its potential could explode quickly. This Moncton-based producer and seller of cannabis products, valued at around $1.1 billion, could have what it takes to become a best-in-class marijuana stock. If you own shares of this company, the smart thing to do would be to hold them, especially after market pundits and analysts have recommended a buy rating because the price could double by the end of this year.
In March, OrganiGram took an important step after signing a strategic partnership with British American Tobacco. This tobacco industry giant aims to increase its ongoing activities to expand its portfolio beyond nicotine and this will undoubtedly generate growth for OrganiGram as well. With all this in mind, it would be a wise decision to acquire shares in a company whose future looks quite promising.