What Caused OrganiGram (OGI) Stock To Grow and how is it connected to Amazon?
Over the last seven days, OrganiGram (OGI) stock has grown from $2.6399 on May 24 to $2.8900 as of today, marking a 0.07% increase. The Canadian cannabis companies along with OrganiGram profited with Amazon’s support on federal legislation of marijuana in the U.S.
Thanks to WallStreetBets crowd the cannabis stocks have been growing and attracting more investors. The U.S. is still on the move to legalize the marijuana all over the states, take for example the most conservative state Alabama becoming the 37th state to legalize medical marijuana. Alongside the Amazon says it will stop scanning its employees for marijuana in the body.
Investors should pay attention to fundamentals along with speculation to big markets in the U.S while reading finance and business news from various sources. But there is some bad news, the Sundial, which also is a cannabis company informed that the gross revenue dropped by 30% comparing to the last quarter of 2020. The biggest reason was the dropping of the single product price. To have a long-term success the investors should not pay attention to social media, because overtime it will disappear and all will be left is just underlying business.