MSOS - Organigram Is My Favorite Cannabis Stock Again

2024-04-21 13:02:41 ET

Summary

• Organigram stock has performed well this year, despite an equity raise and a temporary pullback caused by Tilray's poor financial report.
• The fiscal Q1 report showed a revenue shortfall, particularly in international sales, but positive operating cash flow.
• Analysts' outlook for Organigram's future revenue and adjusted EBITDA has remained relatively stable.

At the very end of 2023, I explained why Organigram ( OGI ) was my favorite cannabis stock . It still is! The stock is up a lot this year, and my ownership in my model portfolio of a 19.5% stake is not the way I usually operate. I haven't held the stake the full year, as I exited the name in March. It's better to be lucky than smart, and I was very lucky, as the company surprised the market (and me) by selling stock. The stock pulled back, which is normal, but the pullback accelerated when Tilray Brands ( TLRY ) reported its fiscal Q3 and plunged....

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