Why OrganiGram Holdings Stock Jumped Today
Shares of Canadian cannabis company OrganiGram Holdings (NASDAQ: OGI) jumped as much as 15% Friday. As of 3:10 p.m. EDT, shares remained up 11.9% on the day.
The only company-specific news around OrganiGram came earlier this week when the company surprised investors with news that CEO Greg Engel will be leaving that role immediately and that his interim replacement is the board's chairman, Peter Amirault. Engel will remain as a special advisor to the board of directors during an undefined transition period. No reason was given for the change. But today's jump comes after an analyst gave a Canadian cannabis peer an upgrade to a buy rating.
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Source Fool.com
