Marijuana stocks can be a source of impressive growth. That’s why Canadian licensed producer OrganiGram Holdings is one of the best stocks to consider buying. Organigram has a market cap hovering around $800 million. Earlier this year, British American Tobacco bought a 20% stake in OGI.
The duo will be working together to develop next-generation adult-use cannabis products, focusing on cannabidiol (CBD). For OrganiGram, a company that’s already leveraging its future heavily toward higher-margin derivative products, the partnership with BTI could open up doors to the lucrative European market.
Organigram Holdings Inc. announced this week that Chief Executive Greg Engel is stepping down from his role effective today and will act as a special adviser to the board through a transition period. The Moncton, New Brunswick-based cannabis company said Peter Amirault, currently chairman of the board, will act as executive chair on an interim basis until a new permanent CEO has been appointed.
The cannabis company’s second-quarter results were worse than projected. The earnings reports showed the company’s gross revenue dropping 29% year-over-year to around CA$19.3 million ($15.4 million). Of course, OGI stock isn’t without risk, as evidenced by the company’s share price movements in recent years. Investors seeking a stock with high leverage to the growth that cannabis provides are it.
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