Aphria (APHA) sank nearly 20% following FQ4 results as the market expected a much better quarter. While the top-line results were solid, the cannabis company appears headed down the path of other failed cannabis stocks. My bullish investment thesis was right on queue with the recent rally above $6, but the biggest risk to the bullish call of oversupply occurred during the quarter ended in May. Aphria is appealing down at $5, but investors have to watch the inventory equation with a sharp eye going forward.
Source: Aphria website
Reduced Confidence
While Aphria