OrganiGram (NASDAQ:OGI) stock is heading higher on Monday despite a lack of news concerning the marijuana company.
This goes along with the heavy trading of OGI stock today. As of this writing, more than 39 million shares of the stock have changed hands. To put that in perspective, the stock’s daily average trading volume is roughly 13 million shares.
So what exactly has OGI stock on the rise today? The exact reason is unclear but it’s worth noting other weed stocks are up today as well. That includes Aurora Cannabis (NYSE:ACB), Tilray (NASDAQ:TLRY), and Hexo (NYSE:HEXO).
With more investors taking an interest in OGI stock, it’s important to be read up on the company. Luckily, that’s what the quick breakdown below is for.
- OrganiGram is a Canadian cannabis company founded in 2013 that serves the medical and recreational markets.
- It went public in 2012 via an initial public offering (IPO).
- The company got its start in the medical marijuana field before expanding out to recreational sales.
- While its main operations are in Canada, the company wants to spread its business to reach a larger base of international customers.
- OrganiGram operates several brands of pot products.
- That includes a brand under its own name, Edison Cannabis Co., Shred, Trail Blazer, and Ankr Organics.
- Gregory Engel leads the company as its CEO and offers up more than “30 years of experience in the pharmaceutical, biotechnology, cannabis and consumer packaged goods industries.”
OGI stock was up 34.6% as of Monday afternoon.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.