It’s been a while since major headlines announced the legalization of recreational marijuana in Canada. At the time, we were involved in investigating press releases and information from a company called Organigram to try to clarify its production numbers as part of its ongoing value in the market.
Most recently, Organigram has climbed about 20% throughout the last month. That’s nice green activity, although OGRMF still has to go higher to reach the numbers that it had just prior to the legalization deadline.
If you look at other leading marijuana stocks like Tilray (TLRY) and Canopy Growth Corp. (CGC), you’ll see that Organigram’s numbers are not a fluke – both Tilray and CGC have also increased over the past month, while being significantly down from their pre-legalization numbers.
So what’s in store for Organigram this year?
In a year-end statement Dec. 31, Organigram CEO Greg Engel said – a whole lot of nothing, really, but maybe gave out a few hints of what the leadership team is thinking for 2019.
“The growth at both Organigram and within the Canadian cannabis industry over 2018 is almost impossible to articulate,” Engel wrote cryptically. “Quantifiable elements like the growth of our peer group and fellow licensed producers aside, the introduction of the adult recreational market has paved the way for an incredible shift in Canada, socially, culturally and economically…Over the course of 2018, we were proud to participate in the historic launch of the adult recreational market and to support our ever-growing patient community. Through maintaining a steady supply of medical products and absorbing the federal excise tax, we have helped ensure our patients, who have fought for so much, are not negatively impacted by cannabis legalization.”
Engel mentioned new employees and well as new partners and investors as parts of what have grown OGRMF over the year and made leadership up its game.
“It becomes increasingly important that our work and our relationships are conducted with quality top-of-mind. It is at the heart of all that we do at Organigram.”
Engel also gave a shout out to some types of product development he seems to feel will be important in the year to come, citing edibles and vape pens as areas of emergence.
“There is much work to be done and new successes around the bend,” Engel wrote. “Thank you for all your support over 2018 and keep an eye to the future – 2019 promises to be another for the books.”
As of press time, ORGMF has dropped off some 20-30 cents or more from its high near $5.00. Watch it move.