Canadian marijuana stocks have been hot so far in 2016
SmallCapPower | October 28, 2016: Marijuana stocks in Canada have been smoking hot in 2016. Back on April 19, 2016, StoneCastle Investment Management Inc. Portfolio Manager Bruce Campbell spoke with SmallCapPower and mentioned OrganiGram Holdings Inc. (CVE:OGI) as a top marijuana stock pick of his. Since then, OrganiGram’s stock price has powered 155% higher to its current value of $2.75 a share.
At the time, Bruce Campbell called the marijuana space in Canada a “real long-term growth area,” with the sector evolving from medical to recreational use over the next 10 years. He thinks all the current legal medical marijuana producers will have a head start on the business.
Mr. Campbell said he liked the cash-flow positive producers, such as OrganiGram Holdings Inc. (CVE:OGI), as well as Aphria Inc. (CVE:APH), which has seen its share price surge 137% since April 19, 2016.
During the past six months, OrganiGram reported its third-quarter financial results (July 25) that saw sales increase 27% to $1,806,849, while its net income for the period jumped to $367,720 from $55,267 a year earlier. The Company also revealed some aggressive expansion plans that included the purchase of a 136,000 square foot industrial building, as well as receiving an increase in its Health Canada licensed sales capacity of dried marijuana to 1,200 kg per annum and cannabis oils to 500 kg per annum.
Stay tuned for a new Bruce Campbell interview coming soon!
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