Organigram Holdings Inc. sold the second-most amount of recreational cannabis in Canada, but its market capitalization trails rivals handily — at least until...
Organigram Holdings Inc. sold the second-most amount of recreational cannabis in Canada, after only Canopy Growth Corp., in the most recent quarter. It sold twice as much pot as rival Aphria Inc.
Organigram Chief Executive Greg Engel, who once helmed the Privateer Holdings-backed Tilray Inc. TLRY, -0.81% , told MarketWatch in Toronto last week that he believes more institutions are taking positions in cannabis companies. Engel said that the company’s goal is to attract more long funds and investors looking for value over time.
In its most recent quarter, Organigram sold slightly less than 5,000 kilograms of dried cannabis and its equivalent across Canada, almost all of it recreational pot, more than 1,000% growth over the year-earlier period. With the federal excise tax removed, Organigram sold C$26.9 million worth of pot.
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