Aphria Inc. (NYSE:APHA) (TSX:APHA) is a Canadian cannabis company that is based out of Leamington, Ontario. It produces and sells medical cannabis across Canada and internationally. Today, we'll take a closer look at its debut on the NYSE, its latest company announcements, and the Aphria stock movements.
Aphria Stock: NYSE Debut
Aphria has begun its trading on the New York Stock Exchange today under the stock ticker 'APHA.'
On October 30th, the cannabis company made its official announcement that it would commence its trading on the major American exchange. The existing shares of Aphria that once traded on the OTCQB under the ticker symbol 'APHQF,' will now be traded on the NYSE.
"Listing on the NYSE provides Aphria with access to the largest equity market in the world, with increased exposure to a vast array of US institutional and retail investors. This strategic move aligns directly with our growth ambitions as we enter an elite peer group of respected, high-profile corporate brands listed on the NYSE," said Vic Neufeld, Aphria CEO, at the time.
APHA opened the market at $11.75 a share and is now currently trading at $11.595.
Aphria Stock: Company Movement
Two days ago, rumors circulated that Altria (NYSE:MO), one of the largest tobacco companies in the world, was considering acquiring a minority stake in Aphria. There has yet to be any official updates on this matter.
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This morning, however, Aphria announced that its Australia-based partner, Althea, was granted a manufacturing license by the Australian Government's Office of Drug Control. Althea operates very similarly to Aphria and is now a vertically integrated cannabis company in Australia.
"We are excited to see our Australian partner achieve yet another milestone in receiving its Manufacture License. This is another step towards ensuring Australian patients have access to high-quality medicinal cannabis," said Vic Neufeld.
Aphria Stock Movement
Currently, Aphria's stock has dropped on both the TSX and the NYSE. According to Yahoo Finance, APHA is currently trading at $15.15 CAD a share on the TSX, down -$0.55 CAD (-3.50%). On the NYSE, APHA shares are down -1.31% from its debut this morning.
Featured Image: Depositphotos/© sam741002
