Aphria stock is outperforming its peers in 2019 according to analysts as the company launches a new education program called 'Aphria Educates.'
Aphria Inc (TSX:APHA) (NYSE:APHA) has seen its share price rise about 3% since the beginning of the year, and while these gains are nothing extraordinary, Aphria stock is still outperforming its market peers and ETFs. The company's outperformance can be put down to a combination of some major pot stocks struggling throughout the year, coupled with Aphria posting some pretty strong quarterly results.
Aphria Stock Boosted By Strong Results and German Operations
Shares in some of the biggest names in the market like Aurora Cannabis (TSX:ACB) (NYSE:ACB) and Canopy Growth (TSX:WEED) (NYSE:CGC) are down 2% and 14.5% respectively this year, due to a weak market and poor results. In comparison, Aphria stock has benefitted greatly in recent weeks from posting strong results, which saw revenue increase 75% from the previous quarter to $128.6 million CAD. The company also beat analysts expectations in terms of the physical quantity of cannabis sold, which more than doubled from 2,636 kilograms to 5,574 kilograms.
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Aphria stock has also benefitted from its overseas operations, specifically in Germany where its subsidiary, Aphria EMEA, has expanded by obtaining five cultivation lots from the German government. Additionally, the company is currently the only licensed producer in Germany with permission to grow all three strains of medical cannabis approved by the BfArM, which is the German Federal Institute for Drugs and Medical Devices.
Launch of Aphria Educates
Aphria Inc also announced the launch of 'Aphria Educates,' an industry-leading cannabis education program. This program is designed to educate adults on the safe and responsible use of all legal cannabis products, as the company gears up for legalization 2.0. The first Aphria Educates event will see two educational panels held in Toronto and Vancouver and will focus on furthering awareness on the potential harms of cannabis for youth and help parents navigate the ever-evolving Canadian cannabis landscape. Aphria stock is currently valued at $7.28.
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