Why OrganiGram Holdings Shares Sank Today
Shares of OrganiGram Holdings (NASDAQ: OGI) were sinking 8.6% lower as of 3:25 p.m. EST on Wednesday after falling as much as 11% earlier in the day. Today's decline appears to be a continuation of the sell-off that began on Tuesday following the Canadian cannabis producer's disappointing preliminary fiscal 2019 fourth-quarter update.
While OrganiGram won't officially announce its Q4 results until Nov. 25, the company let the cat out of the bag early that its results won't be as good as expected. OrganiGram expects to report Q4 net revenue of around 16.3 million in Canadian dollars with negative adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA).
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Source Fool.com
