Growth Stocks: Aphria soars on marijuana sales, Shoppers deal
Article Excerpt
This medical marijuana stock has soared since early 2016 and, now with a $2 billion market cap and a share price above $13, is no longer a penny stock. Still, there are challenges ahead for Canadian producers—even as many expand their output to meet greater demand. That demand is expected to spike when Canada legalizes marijuana by July 2018.
APHRIA INC. (symbol APH on the Toronto Exchange; www.aphria.com) is a licensed producer of medical marijuana based in Leamington, Ontario. Not only does it sell to retail patients, it also sells to other Canadian licensed producers.
Aphria currently operates 100,000 square feet of medical marijuana greenhouses. It’s now working toward adding an additional 200,000 square foot greenhouse and then a further 700,000 square foot facility.
When completed, the 1,000,000 square feet will give the company yearly capacity of 100,000 kilograms of dried cannabis.
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In addition to these two expansion projects, Aphria owns 100 acres in the Leamington area that can be built out to…
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