Today, Aphria (APHA) announced a distribution deal with ParcelPal Technology to deliver medical cannabis to patients. The companies have selected Calgary, Alberta, to launch their delivery service. Patients can order from Aphria’s online store, and ParcelPal will deliver the order. Using ParcelPal’s platform, patients can track their order.
Through this delivery service, patients can access medicinal cannabis legally and on time. ParcelPal hopes to expand the service to other cities in Canada as well.
Son of Aphria’s cofounder wins Ontario cannabis lottery
Yesterday, the Alcohol and Gaming Commission of Ontario announced the 42 winners of Ontario’s second cannabis lottery. The winner of a Burlington store license, Cory Floyd Cacciavillani, is reportedly Apria co-founder and shareholder Cole Cacciavillani’s son.
Comparing peers’ stock performance this year
Aphria stock was trading flat today but has risen 11.1% this year. This month, Aphria reported its fiscal 2019 fourth-quarter results, posting better-than-expected revenue and positive EBITDA. Its results seem to have impressed investors, boosting its stock. Very few cannabis companies have reported positive EBITDA. Aphria is focusing on expanding its domestic and international businesses to drive sales. To learn more about its initiatives, read Why Aphria Expects Huge Revenue Growth.
In comparison, Aurora Cannabis (ACB) has returned 15.2% this year, while Canopy Growth (WEED) (CGC) has fallen 3.4%. On August 6, Aurora announced it expects fourth-quarter revenue of 100 million–107 million Canadian dollars, a significant increase from the 65.1 million Canadian dollars it saw in the previous quarter. Also, on August 19, the company completed its acquisition of Hempco Food and Fiber. All of these developments appear to have raised Aurora’s stock price.
Canopy Growth reported dismal second-quarter earnings on August 15. The company missed analysts’ top- and bottom-line expectations, dragging down its stock. However, on August 20, Canopy received a key extraction license for its KeyLeaf facility. After the announcement, its stock rose.