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Cannabis Stocks: Aphria (APHA) 5% Higher on Move to Nasdaq

APHA is switching exchanges in June

Aphria (NYSE:APHA) is in the news Tuesday after the cannabis company announced that APHA stock is moving to Nasdaq.

Cannabis Stocks: Aphria (APHA) 5% Higher on Move to Nasdaq
Source: Shutterstock

This will have Aphria switching its stock over from the New York Stock Exchange to Nasdaq after markets closed on June 5. The stock will then start trading on Nasdaq the following Monday, which is June 8.

Irwin  Simon, CEO of Aphria, said the following about the change.

“We are excited to have Nasdaq as our new exchange partner. This move is a reflection of our ongoing commitment to find cost effective ways of operating so we can continue to deliver long-term value to shareholders. Additionally, as a purpose driven Company, we believe Nasdaq will be a good fit for Aphria, particularly given our focus on, and the progress we have made, integrating ESG practices across our business.”

Aphria points out that this change will have its stock continuing to trade under the APHA stock ticker after switching to Nasdaq. It also points out that this change does not affect its listing on the Toronto Stock Exchange.

Aphria last reported earnings in mid-April. The cannabis company saw its stock rise following that earnings release. That’s due to it beating out Wall Street’s earnings per share and revenue estimates for the quarter. It also saw major gains in its operating income and net income during the period.

APHA stock was up 5.4% as of Tuesday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media,

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