Organigram starts to see uptick as Cannabis 2.0 sinks in

457 0

The cannabis industry is starting to see the benefits of Canada’s advanced cannabis market

The path of full recovery is still long, but some cannabis companies are showing positive numbers and an increase in its stock value. On Monday, the global cannabis company, Organigram Holdings presented gains that were leveraged partially by the cannabis 2.0 legalization program now running in Canada. This might be just the right time for Organigram to turn things around after 2019 was rather disappointing for most cannabis stocks. Through a combination of promising partnerships, investment and internal opportunities, Greg Engel, CEO of Organigram Holdings, is sure the company has the winning formula. Not to leave behind is the company’s outstanding cannabis 2.0 portfolio that can really make this stock a good option for investors.

Under cannabis 2.0, the first wave of products was authorized last December in a market that was estimated to be worth $1.86 billion. Organigram started with a range of Trailblazer vapes that were launched in an agreement with a vape technology company named Feather. Approximately $37 million were also invested in the production of its premium brand of chocolate products. Now the facility can produce 50,000 to 60,000 of its Edison Bytes in a single shift. The current price per share is trading at $3.04.

This is not the only reason to bet on Organigram’s future; back in 2018, this Canadian company took up a 25% stake from a German medical use firm named, Alpha-Cannabis Germany (ACG). With this new addition, the company’s presence can expand easily, so more cannabis products can be taken to Europe. Another profitable deal was closed by the company to supply products to Australia. These partnerships will take care of production while the Moncton facility is still waiting to receive the EU GMP certification.