Why This Cannabis Operator Is Giving Off Buy Signals
There's a bit of a conundrum occurring among cannabis companies this year. Quarterly revenue for some U.S. multistate operators (MSOs) is coming in at record levels. On the Canadian front, New Brunswick-headquartered Organigram (NASDAQ: OGI), one of the leading producers of indoor-grown cannabis and products made from it, posted double-digit revenue growth in its most recent quarter, alongside significant market share gains this year -- yet its shares have steadily sunk since February. Here's why that market disconnect might give investors a good opportunity to buy in.
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According to statistics posted in Organigram's corporate update on Nov. 1, based on data from HyFire, the company has nearly doubled its market share this year as of September, going from 3.9% at the end of 2020 to 7.7%. This number is good enough to place it fourth among Canadian LPs, while competitors Tilray and Aurora Cannabis have been losing market share, going from 20% to 14%, and 8% to 4% respectively.
Source Fool.com
