OrganiGram Holdings Inc OGI shares were trading higher by 6.8% at $2.83 premarket Tuesday after the company reported better-than-expected third-quarter sales results.
OrganiGram said it expects to begin to see a sequential improvement in adjusted gross margins in the fourth quarter of 2021 largely due to lower product cultivation costs and other economies of scale as it continues to ramp up cultivation and realizes the benefit of ongoing cost efficiency improvements.
OrganiGram Holdings is a Canada-licensed producer of cannabis products. OrganiGram focuses on producing indoor-growth cannabis for patients and adult recreational consumers, as well as developing overseas business partnerships. OrganiGram operates in a single segment that is the production and sale of cannabis.
OrganiGram has a 52-week high of $6.45 and a 52-week low of $1.01.
See also: HOW TO BUY ORGANIGRAM (OGI) STOCK
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