Aphria stock has made headlines since August, after jumping 20%, before moving sideways at the beginning of September. But while the cannabis sector has experienced slumps the past couple months, Aphria Inc (TSX:APHA) (NYSE:APHA) remains at the top of investors' watchlists. Things are not different this week.
Aphria Stock: The Latest
It's Thursday, and Aphria's market presence has not gone unnoticed this week. On Wednesday, September 4, Aphria filed its annual report for the FY ended May 31, 2019, on Form 40-F. The report was filed with the SEC, and it contains audited financial statements as well as other disclosures like management analysis.
Most notably, however, Aphria Inc announced today it's joined the Shoppers Drug Mart and TruTrace Technologies Pilot program. Designed to increase transparency and product identification within the medical cannabis sector, it's no wonder management is optimistic about this venture.
>> CBD Pet Products: What are They and What Stocks Could Benefit?
"We are thrilled to partner with Shoppers Drug Mart and TruTrace Technologies to increase transparency within the medical cannabis industry. At Aphria Inc., we take responsibility to heart and recognize the importance of standardized testing and quality assurance. This program reflects our ongoing commitment to protecting the health and safety of our patients."
Despite the news, however, Aphria stock is trading at $6.69, which puts APHA stock down 0.73%. Is this a continuation of the sideways movement the cannabis stock has seen since the start of the month? Maybe. Is it possible this is just a one-off? Could be. Does it have anything to do with it still being early in the trading day? Possibly. For these reasons, cannabis investors might want to keep an eye on Aphria stock today and tomorrow.
Takeaway
Looking at the big picture, Aphria stock could very well prove to be a profitable investment, regardless of today's trading, with its high-quality products and entrance into various partnerships with big-name companies.
What do you think? Let us know in the comments below.
Featured image: Canva
