Aphria stock is in the green right now. Good news for investors! At the time of writing, APH stock is up 11.72% and selling for $14.87.
Aphria Stock is Green
One reason for the increase in the Aphria stock price is the fact that in two days time, Aphria (TSX:APH) will begin listing on the NYSE. On Friday, you can find it there under the ticker APHA. To match this, it will also change its Toronto Stock Exchange ticker to APHA.
You can see how this major US exchange listing might appeal to investors. Perhaps this is why the Aphria stock has been one of the few cannabis companies actually paring losses this week.
Aphria will now join the ranks of the biggest names in the business, including Aurora Cannabis Inc. (NYSE:ACB), Canopy Growth Inc.(NYSE:CGC), Cronos Group Inc. (NASDAQ:CRON), and Tilray Inc. (NASDAQ:TLRY). If not only for exposure to a larger investor pool, the simple ego stroke an up-listing gives can be enough to see stocks soar.
Will there Be a Deal?
But there is another thing in the pipeline that could also explain why Aphria stock is up almost 12% today. Altria (NYSE:MO), one of the largest tobacco companies in the world, is reportedly in talks to acquire a minority stake in Aphria.
>> Cannabis Stocks: Canopy Growth and Aurora Cannabis Rebound on the NYSE Today!
The company has made similar deals outside its tobacco business before. It currently has a 10% stake in the beer giant AB InBev. A deal with Aphria could be the logical step forward for this tobacco company, as sales in tobacco have been declining and a partnership could bring great value to both firms.
Aphria makes good sense for a minority investment especially considering its current position. Should a deal occur, Aphria stock may just remain on the upside.
There's no guarantee of course, but Altria is a global brand, and along with Aphria's new NYSE listing, Aphria's position as a leading cannabis firm is only cemented further.
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