2 Reasons Why Aphria Could Be a Buy
It's no secret the marijuana industry has endured a barrage of headwinds over the past few months. Various issues in the Canadian market -- including a slow rollout of physical stores and supply shortages -- have negatively impacted the financial performance of many of the top cannabis companies. To make matters worse, the entire industry has been dragged down by company-specific scandals, most notably the debacle surrounding CannTrust Holdings.
In case you've been living under a rock, the Ontario-based company was caught illegally growing weed in several secret rooms. As a result, CannTrust's license was suspended by Health Canada.
Given this backdrop, investors were not exactly holding their breath as Aphria (NYSE: APHA) prepared to release its Q1 2020 financial results, but these results -- which came out Oct. 15 -- managed to grab everyone's attention. Aphria's earnings were impressive, and the company's shares climbed by as much as 24% after their release, although things have slightly cooled down since then.
Source Fool.com
