Why Aurora Cannabis, OrganiGram Holdings, and HEXO Dropped, Then Bounced Friday
Cannabis stocks have been on a wild ride this week starting with chatter among Reddit users that likely caused a surge across the sector. That trend reversed on Thursday, however, and the stocks are bouncing around again today.
Shares of OrganiGram Holdings (NASDAQ: OGI), for example, dropped 14% early Friday morning, before reversing to a 15% gain as of 10:55 a.m. EST. Shares of Aurora Cannabis (NYSE: ACB) and HEXO (NYSE: HEXO) were also each down double digits early in the session, but have settled back to a drop of 7% and a gain of 3%, respectively.
Along with the retail trading volatility, there is some news for investors to digest today. Aurora Cannabis announced its fiscal 2021 second quarter results last night, reporting progress on its business transformation plan.
Source Fool.com
