This morning Aphria is up over 30% in pre-market. We rolled together the reactions of various writers, blogs and social media for anyone looking for a quick summary:
- Over at MarketWatch, Max Cherney writes that “its fiscal 2020 guidance was likely one of the other reasons shares rose more than 30% in the extended session Thursday. In the conference call, executives said they expected revenue net of excise taxes in the range of C$650 million to C$700 million. Simon said the company aims to hit a C$1 billion run rate by the end of the fiscal year.” Max has some other great nuggets in there, it’s worth a read.
- At the Globe and Mail, Vanmala Subramaniam reminds us, “In a recent note ahead of Aphria’s earnings, CIBC analyst John Zamparo slashed his price target on the company, warning that it could face a similar impairment charge, possibly as soon as the most recent quarter, in relation to the $425 million acquisition of Nuuvera Inc., a company that had some cannabis-related assets in Italy, Germany and Israel. The company did not write down the Nuuvera assets in its quarterly results.”
I’m not sure what that was about….. As I said, our strategic priority over the last six months has been focusing on our Canadian operations here in Leamington.”
Irwin Simon, CEO of Aphria, in Response to CIBC Downgrade, Globe and Mail
- Over at Grizzle, the ‘Professor of Pot’ Scott Willis says, “The most important takeaway for us is that Aphria was able to double sales of cannabis when industry sales as a whole are up only 30%-40% over last quarter.”
- Over at Equity Guru, Chris Parry wrote: “The sector has needed a giant to show institutional money that someone can be an adult here, and that it was Aphria, which was not so long ago being pounded out by short-sellers after shenanigans by the former CEO, the formerly respected Vic Neufeld, is important.”
And from Twitter, Andy DeFransesco reminding all the nay-sayers that he didn’t sell Aphira a magic bag of beans:
Information for this briefing was found linked sources and Twitter. The author is short Aprhia via Puts and has no affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
