09:52:03 EDT Tue 22 Sep 2020
Enter Symbol
or Name

Login ID:

Cannabis Summary for Nov. 25, 2019

2019-11-25 21:29 ET - Market Summary

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

The Canadian Securities Exchange Composite Index fell 9.78 points to 411.24 Monday. Canadian cannabis producer Organigram Inc. (OGI) fell 11 cents to $3.39 on 4.65 million shares after releasing its results for its fiscal year ending Aug. 31, 2019. A few weeks ago, Organigram warned that its net revenue in fiscal Q4 would decrease sharply from $24.8-million in fiscal Q3. The cannabis producer had net revenue of $16.2-million in fiscal Q4, a decline that Organigram said was "exacerbated by increased industry supply." The $16.2-million in revenue was reduced from $20-million by price adjustments and product returns. The returns and adjustments were mostly from the Ontario Cannabis Store, which had been unable to sell Organigram's low-THC marijuana and THC oil. Despite the quarter-to-quarter decrease in revenue, Organigram increased its sales, marketing, and general and administrative spending to $13.9-million in Q4, up from $9.1-million in Q3.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2020 Canjex Publishing Ltd. All rights reserved.

Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.