TLRY - Why Aphria OrganiGram Holdings and Aurora Cannabis Rose Today
Shares of some Canadian cannabis companies jumped Monday morning, before paring those gains. Shares of Aphria (NASDAQ: APHA) , OrganiGram Holdings (NASDAQ: OGI) , and Aurora Cannabis (NYSE: ACB) all rose between 6% and 8% early in today's session. Those gains faded some, and as of 2 p.m. EDT, Aphria traded up about 1%, Organigram was up 3.2%, and Aurora was up 3.4%.
The biggest recent news among these Canadian growers was the overwhelming shareholder support the proposed merger between Aphria and Tilray (NASDAQ: TLRY) received. Approval of the previously announced combination required a two-thirds majority by voting Aphria shareholders. Late last week, the company revealed that more than 99% of voters approved the plan. Other news in the marijuana sector from last week was OrganiGram Holdings releasing its fiscal 2021 second-quarter financial results.
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Why Aphria, OrganiGram Holdings, and Aurora Cannabis Rose Today