Aphria (APH:TSXV) jumped another 5.6% Monday to close at $1.87 per share. Early in the trading session, Aphria touched a new 52-week high of $1.98 on a day that saw over 750,000 shares trade hands.
Marijuana stock Aphria shines despite gold bull
For the middle of summer, in the middle of a gold bull market on the TSX Venture, this is impressive. While the majority of marijuana-related issuers have faded away as the limelight moved onto lithium and now gold and silver, Aphria has stayed the course and proved the doubters wrong.
There is a good reason behind Aphria’s recent surge higher. In the company’s year end results, ending May 31, 2016, the company reported:
“Year over year revenue grew from $0.6 million to $8.4 million, or over 15 fold.”
Check out the below excerpt surrounding the company’s revenue:
As a result of the delay in the approval of our Part I expansion, the Company was unable to accept new patient registrations beginning in late December 2015 until the end of April 2016. As a result, the Company’s revenue grew below expectations in the fourth quarter. The Company ended the quarter with revenue of almost $2.8 million. While growth in the quarter was slower than anticipated, the Company earned over 40% of the quarterly revenue in the month of May.
The increase in revenue in the quarter is consistent with the Company’s increase in kilograms sold from 322.4 to 340.4…”
Click here to read the entire press release from July 8th.
Aphria is referring to the last 12 months ending May 31st as a ‘Transformational Year’.
The company boasted a:
“17% increase in patient base, 31% decrease in production costs and 23% increase in EBITDA in latest quarter”
Click here to read more. Its stock sure justified the above numbers and comments.
Aphria – 1 Year Chart
BrotherJ maintains lead in July Stock Challenge
No one selected Aphria for July’s Stock Challenge as marijuana stocks have been all but forgotten by the majority of traders. First Mining Finance, which has catapulted BrotherJ and member ‘rayme’ into 1st and 2nd please, respectively, touched a high of $1.22 before settling back to $1.17, breaking even on the day.
The TSX Venture bull market is still very much intact, but was the only exchange in North America to give up ground Monday.
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