It is no secret that we have a strong preference for Organigram Holdings (OGI.V) in the context of our bullish cannabis stocks forecast. We said a few weeks ago to watch this stock because a Breakout would suggest multi-bagger potential. After a failed attempt last month we now see a firm breakout in progress. This might be the signal we were waiting for to confirm that our Organigram Holdings stock price target of $40 is underway.
Organigram Holdings keeps on publishing great fundamental and financial news relative to its peers in this booming market.
Note that we stress ‘relative to its peers’ because context is king in the case of cannabis stock analysis.
The latest and greatest news came out on Friday when the company announced the official start date of trading on the Nasdaq.
Organigram Holdings Inc. (TSX VENTURE: OGI) (OTCQX: OGRMF), a leading licensed producer of cannabis, is pleased to announce that its common shares will commence trading on the Nasdaq Global Select Market under the symbol “OGI” on Tuesday May 21, 2019. Organigram’s common shares will continue to be listed and trade on the Toronto Venture Exchange (TSXV), also under the symbol “OGI”. The Company’s common shares will continue to trade on the OTCQX under the symbol “OGRMF” until market close on May 20, 2019.
This will certainly help drive liquidity and credibility, both items being super important in this space which is still watermarked with obscurity and illegal practices.
We strongly believe in the healing and relaxing effects of cannabis as a health product.
Fundamentally this a sector that has just started growing. The growth potential is enormous, and per Tsaklanos his 1/99 Investing Principles it is a handful of cannabis stocks that will outperform their peers.
Our forecast specifically for Organigram Holdings, which we consider one of the top 1% of cannabis stocks is super-bullish.
This is our conclusion published 2 months ago: “Organigram Holdings is one of the few cannabis stocks that trades at all-time highs which confirms leadership in its sector. Our forecast of $40-45 as a blow-off top in 2019 or 2020 is underway.”
Two weeks ago we wrote this when Organigram Holdings started its previous breakout:
This breakout most hold though. We want to see 3 to 5 consecutive closes above the $10.05 level. Moreover, we want to see 3 consecutive weekly closes above $10.05. That’s to confirm the breakout, and confirm our forecast that Organigram will be a multi-bagger in the next 12 months.
Our investing thesis is simple: if the market leader Canopy Growth (WEED.TO) continues its bullish path as per our Canopy Growth forecast AND Organigram Holdings breaks out it will go up 4-fold similar to what it did a few years ago.
This may be starting now!
Ed. note: as a bonus in our crypto investing service we tipped Organigram as a top performer on Oct 19th as well as Nov 7th. We suggested members to wait taking positions until stock market turmoil would be over. On Jan 2nd 2019 when Organigram Holdings was trading at $5.6 we followed up suggesting to stand by for Organigram’s breakout. One week later we confirmed the breakout. Timing was great, and members who took the trade did so 50% below the current price levels.