Why Organigram Shares Popped Today
Canadian cannabis company Organigram Holdings (NASDAQ: OGI) reported its second-quarter fiscal 2022 earnings today, and investors liked what they saw. The results from the quarterly period ended Feb. 28 have Organigram shares trading 9.4% higher as of 10:44 a.m. ET.
Organigram said it had record net revenue of $31.8 million, up 117% compared to the prior-year period. It also expects another quarter of record net revenue in its next quarter because of increased capacity and throughput along with "ongoing sales momentum, stronger forecasted market growth, [and] the company's expanded product line in multiple segments." Net revenue is gross revenue less excise taxes paid.
Source Fool.com
