Why OrganiGram Shares Are Trading Higher Today

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

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CannabisLong IdeasPenny StocksSmall CapMarketsMoversTrading Ideaswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!
CCC-Oct-24-Banner-1

Click on the image for more info.

Cannabis rescheduling seems to be right around the corner

Want to understand what this means for the future of the industry?

Hear directly for top executives, investors and policymakers at the Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. 

Get your tickets now before prices surge by following this link.