OrganiGram stock continues to move higher for the fourth straight session and jumped another 3% after OrganiGram Holdings (TSXV:OGI) (NASDAQ:OGI) announced a new proprietary technology that will help the company in producing both liquid and powdered CBD products.
Major Development
While some of the companies in the marijuana space have grown into behemoths over the past year or so, one company that seemed to have stayed under the radar is OrganiGram Holdings Inc. However, it seems that the company is now making all the right moves that could see it becoming one of the more important players in the growing marijuana industry.
In a new development, OrganiGram announced late Monday that it had created a proprietary technology that will help the company in producing both liquid and powdered CBD products. The proprietary technology is based on nano-emulsion processes and helps in creating tiny droplets of CBD that could have a much faster effect on the customers.
In addition to that, the company has claimed that CBD products produced with this technology will also help in controlled and reliable dosing. However, the more important aspect of this technology is that the research and development team at OrganiGram Holdings has also managed to develop it into a powder, which dissolves easily. This is a particularly important development for OrganiGram as the market for edibles, and other CBD derived products are going to be legalized in Canada this year.
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OrganiGram stock is up 3% at $7.29 on the Nasdaq. On the Canadian stock, OGI stock gains 2.40% at $9.47.
The company’s proprietary technology will help it in producing new products, which could help it in cornering a nascent market. The company also announced that it is going to launch a line of dried powder beverage products in Canada at the start of 2020.
Another Boost
In addition to that, the company received another major boost the day before after Bruce Linton, the founder and former CEO of industry leader Canopy Growth (TSX:WEED) (NYSE:CGC), stated that among the many cannabis companies he believes that OrganiGram Holdings is the one with good potential for growth. Linton, who has been voted out of his company, was asked which company he liked in his industry and he stated that he had always had a good experience whenever he dealt with OrganiGram. Following the comment, the stock went up by 85%.
OrganiGram stock has gained over 15% in the past four trading sessions and outperformed the broader cannabis sector. Moreover, OGI stock is one of the biggest cannabis stock gainers this year with a jump of 70%.
Featured image: Canva
