Aphria fell 30%
Aphria (APHQF) stock fell nearly 30.6% in November. The stock closed at 10.5 Canadian dollars on November 30, which declined from 15.2 Canadian dollars at the beginning of the month.
In November, the overall cannabis sector experienced broad weakness. The Horizons Marijuana Life Science ETF (HMMJ) declined nearly 6.7% during this period. In November, major companies like Canopy Growth (WEED), Tilray (TLRY), Aurora Cannabis (ACB), and Cronos Group (CRON) reported their earnings. Some of the companies missed the expectations, which fueled the sell-off in the cannabis sector. Canopy Growth lost ~9.4%, while Aurora lost 13.5% during this period.
Cronos Group increased 18.8%, while Tilray rose 3.5% in November. These stocks outperformed other players in the cannabis industry. Aphria emerged as the biggest loss last month. Investors appear to have lost confidence in Aphria due to some of the above companies reporting disappointing earnings.
Acquisition and partnership activities
Aphria’s acquisition and partnership activities remained ripe in November. Recently, the company completed a private placement with Tetra Bio-Pharma—a drug development company. Aphria also announced its acquisition of CC Pharma in Germany in November. Aphria entered into a joint venture with DCM’s subsidiary Perennial to create cannabis-infused products.
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