Shares of several top Canadian cannabis producers soared today after one of their peers, Aurora Cannabis (NYSE: ACB), reported better-than-expected fiscal 2020 third-quarter revenue growth after the market closed on Thursday. Canopy Growth (NYSE: CGC) stock was up 13.4% as of 3:38 p.m. EDT on Friday, while shares of Cronos Group (NASDAQ: CRON) and OrganiGram Holdings (NASDAQ: OGI) were up 10.3% and 13.5%, respectively. Investors now appear to be increasingly optimistic that the rest of the Canadian cannabis industry could also enjoy a turn for the better after a challenging period following Aurora's surprisingly positive results. Read More...
Why Canopy Growth, Cronos Group, and OrganiGram Soared Today
Shares of several top Canadian cannabis producers soared today after one of their peers, Aurora Cannabis (NYSE: ACB), reported better-than-expected fiscal 2020 third-quarter revenue growth after the market closed on Thursday. Canopy Growth (NYSE: CGC) stock was up 13.4% as of 3:38 p.m. EDT on Friday, while shares of Cronos Group (NASDAQ: CRON) and OrganiGram Holdings (NASDAQ: OGI) were up 10.3% and 13.5%, respectively. Investors now appear to be increasingly optimistic that the rest of the Canadian cannabis industry could also enjoy a turn for the better after a challenging period following Aurora’s surprisingly positive results.
