Marketwatch put out an article on Aphria Inc (TSX: APHA) (NYSE: APHA) this afternoon, outlining the current status of the company. In particular, it leveled with readers on the status of Aphria’s claimed line-by-line rebuttal, promised by ex-CEO Vic Neufeld following the short report by Hindenburg Research.
After reaching out to a company spokesperson, in short, Aphria stated that the rebuttal was promised personally by Vic Neufeld, who at the time was CEO and Chairman, and not by Aphria itself. Thus, it has no obligation to issue the response.
Despite dozens of media reports of the company’s promise, an Aphria spokeswoman denied that the company had promised investors that it would issue a line-by-line rebuttal to the short seller claims. Ex-CEO Neufeld made the promise of a rebuttal and not the company, she said.
While an odd response by the firm, it explains Aphria’s silence on the matter. Clearly, investors are not expecting a response from the company at this point in time, given that it has been nine months since the report was initially released and there’s little need to reopen old wounds. However, the lack of a response despite statements made by the firm (or ex-CEO) has notably had an affect on the current equity.
Aphria is currently trading at $6.94 on the New York Stock Exchange.
Information for this briefing was found linked sources, Sedar and Aphria Inc. The author has no position 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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.