Will the price of Aphria Inc. stock recover?
Aphria Inc. was established in 2011 and is based in the Canadian province of Ontario. Its founders include John Cervini, who left his family's greenhouse tomato and pepper business to start Leamington, the company that would eventually become Aphria. Cervini entered the industry directly from traditional agriculture and thus had no experience when it came to cannabis cultivation. Today, he is worth an estimated $145 million.
Aphria Inc. was granted a licence for the production and sale of cannabis for medical use in 2014, and, in 2015, it became a wholesale supplier to the Canadian market. More recently, the company announced plans to enter the US market (as well as several other markets across the Americas) while also stating its intent to launch operations in Germany.
Unlike many of its competitors, Aphria Inc.'s cannabis is grown under natural sunlight as opposed to artificial lights.
The company's shares are listed on the NYSE under the ticker symbol APHA. At present, the company's market capitalisation stands at $3.7 billion.
Following their mid-September peak of $16.50, the company's shares went down to $8.80 apiece. Following the trend that was observed across the whole industry, Aphria Inc.'s shares received a huge boost from Canada's legalisation of cannabis for recreational use in June of this year.
Disclaimer: The information in this article is not intended to be and does not constitute investment advice or any other form of advice or recommendation of any sort offered or endorsed by Libertex. Past performance does not guarantee future results.
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