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Why Aphria Shares Are Soaring Today

TheMotleyFool

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Shares of Aphria (NYSE: APHA) were soaring 22.4% higher as of 9:48 a.m. EDT on Tuesday. Before the market open, the Canadian cannabis producer announced results for its fiscal 2020 first quarter, which ended on Aug. 31. And those results were very good, with Aphria reporting its second consecutive quarter of profitability.

Aphria stock fell Monday as investors appeared to worry that the company would give disappointing news along the lines of HEXO's preliminary fiscal 2019 fourth-quarter revenue update. Those worries were misplaced.

Image source: Getty Images.

Source Fool.com

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