Aurora Confirms Cannabis 2.0 Shipments, ACB Stock Drops 10% Following Cam Battley’s Departure
Organigram Releases Trailblazer Torch Vape Cartridges as its First New Product Format, OGI Stock Jumps
Aurora announced its new product formats have been shipped to 10 Canadian provinces but informed consumers that it may take until early January 2020 for them to appear in retail cannabis stores. The company’s registered medical patients across Canada have immediate access to the new products.
Included in Aurora’s initial Cannabis 2.0 product lineup include a variety of CBD and THC vape products in addition to CBD and THC edible products such as gummies, chocolates, baked goods and mints.
“We have focused our collective efforts to be ready for the successful launch of Cannabis 2.0 as Canada takes the next step in the legalization of newly allowed product forms. We are ready and have launched a diversified portfolio of new product formats and are excited for Canadians to have access to high-quality, safe alternative cannabis products such as edibles, vape pens and other derivatives,” said Aurora Cannabis CEO Terry Booth.
Aurora is producing its new product formats at the company’s Alberta based Aurora Sky facility as well as its Aurora River location in Ontario and Aurora Vie in Quebec. The company set up these three locations to “provide centralized production, packaging, logistics and distribution capabilities.”
Aurora is expecting demand for new Cannabis 2.0 products to be high and the company is fully prepared to meet that demand. Aurora informed investors that it has allocated resources accordingly and has stockpiled inventories to ensure product availability through an ongoing replenishment strategy.
Check out Aurora Cannabis’ “Ready for Edibles” consumer education campaign here.
To learn more about the company’s next wave of Cannabis 2.0 products watch the video below.
Source: Aurora Cannabis YouTube
Today’s ACB Stock Price Action
Shares of Aurora Cannabis’ TSX listed stock closed trading today at $2.65 per share, down 10.17% on the day. South of the border on the NYSE, ACB stock closed today’s trading session down 10.67%, at $2.01 per share.
ACB stock has been under pressure for most of 2019 with the sell-off intensifying recently due to tax-loss selling in addition to the shockingly bearish $0 per share price target placed on Aurora’s stock.
Over the weekend, Aurora suffered another set back after it was announced the company’s Chief Corporate Officer (CCO) and biggest promoter Cam Battley had resigned. With no reason provided for his departure and no customary farewell quote in the press release, investors were left fearing the worst. That speculation likely fueled today’s 10% decline despite this morning’s bullish press release.
OGI Looks to Torch the Market with New Vape Line
Organigram confirmed that beginning on December 17th, shipments of the company’s new Trailblazer Spark, Flicker and Glow 510-thread Torch vape cartridges have been shipped to the provinces of Ontario, New Brunswick, Nova Scotia, Manitoba and Saskatchewan.
Organigram’s CEO Greg Engel provided the following comment on today’s announcement:
“As a company, bringing the next-generation of cannabis products to market without delay was important to us. We are proud to support access to tested, quality derivative-based products that we expect to help strengthen the regulated market and benefit those who prefer those product types over others. Being one of the first licensed producers in the country ready to provide vape products, following the expiration of Health Canada’s 60-day notification period, illustrates that degree of focus and commitment. It speaks to an extraordinary effort by our internal teams who helped bring the Trailblazer Torch to market.”
Organigram’s new lineup of vape cartridges have been crafted with top of the line ingredients and materials which include the following details:
- C0₂-extracted cannabis concentrate oil and botanical terpenes
- Custom-engineered with borosilicate glass and stainless-steel components
- Designed to accommodate a standard 510-thread battery
The new vape products were inspired by the company’s Trailblazer-branded dried flower and pre-roll products and will be available in the following options:
- Spark – Sativa-Dominant Strain
- Glow – Indica-Dominant Strain
- Flicker – Hybrid Strain
Following the initial launch of the company’s new Trailblazer Torch vape cartridges, Organigram plans to release additional vape products throughout January 2020 in a staggered rollout which includes its PAX Era cartridges and Edison + Feather ready-to-go vape pens.
Availability in Alberta, Quebec and Newfoundland & Labrador may vary due to the province’s vape launch delays or restrictions.
During the first and second quarters of 2020, Organigram will be launching additional Cannabis 2.0 product formats such as high-quality infused chocolates and a dissolvable powdered beverage product which was created using nanotechnology for faster onset of cannabinoids compared to traditional edibles.
Today’s OGI Stock Price Action
Shares of Organigram’s TSX listed stock closed today’s trading session up 2.55%, at $3.22 per share. In the United States, OGI’s NASDAQ listed shares closed trading today at $2.47 per share, up 3.78% on the day.
In mid-November, OGI stock bounced nicely after briefly touching the $2.60 level and is currently still in the process of trying to put in a bottom. If the stock can rally soon it will officially create a new higher low and greatly increase the odds of a full-on trend reversal. Keep an eye out for the company’s Q1 2o2o earnings as it will likely be an indicator of which direction the stock will head in 2020.
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Disclosure: The Cannabis Investor does not hold a position in any of the stocks mentioned in this article.