OrganiGram HoldingsNASDAQ: OGI

TORONTO--(BUSINESS WIRE)--Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), (the “Company” or “Organigram”), a leading licensed producer of cannabis, is pleased to announce its second international medical cannabis customer in the UK, Avida Medical, a full-service medical cannabis and specials medicines manufacturing business. Subject to the terms of the Agreement, the Company expects to supply 1,700 kilograms of high-quality, indoor-grown dried cannabis flower to Avida Medical in the UK over.

This week, investors in marijuana stocks are remaining optimistic about the sector. The cannabis industry is constantly evolving, making it important to adapt to market changes. The volatile nature of trading in marijuana stocks can make it difficult to predict patterns, so staying informed about news and events is essential.

Here is a comparison of the performance of OrganiGram (OGI) and ResMed (RMD) with their sector so far this year.

OrganiGram (OGI) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

Organigram's Q4 results exceeded revenue expectations but had weaker than expected adjusted EBITDA. Analysts have lowered their projections for Organigram's revenue and adjusted EBITDA for FY24 and FY25. British American Tobacco (BAT) is buying a larger stake in Organigram at a significant premium, but not acquiring the entire company.

Organigram Holdings Inc. (OGI) Q4 2023 Earnings Call Transcript

OrganiGram (NASDAQ: OGI ) stock is rising higher on Monday after the cannabis company announced a new C$124.6 million investment. That investment comes from BT DE Investments Inc., which is a wholly-owned subsidiary of BAT (NYSE: BTI ).

Organigram Holdings Inc has extended its relationship with British American Tobacco PLC (LSE:BATS) boosting its financial strength and positioning it to expand beyond Canada. The licensed producer of cannabis said BAT, the owner of Rothmans and Lucky Strike, is investing a further C$124.6 million in the business, building on an initial C$221 million injection back in 2021.

The stock of Canadian cannabis company Organigram Holdings Inc. OGI, +4.50% soared 10% premarket Monday, after the company said it is getting a C$124.6 million ($91.3 million) investment from British American Tobacco Plc BATS, -0.36%. The company will use C$83.1 million of the investment to crate “Jupiter,” a strategic investment pool targeting emerging growth opportunities to help Organigram expand its geographic footprint.