Toronto, May 24, 2026, 13:05 (EDT)
- Organigram’s Nasdaq shares ended Friday at $1.12, slipping 0.9% for the session but still about 4.7% higher compared to May 15.
- The company’s TSX-listed shares closed at C$1.56 following a shortened week on Canadian markets.
- Nasdaq will be shut Monday for Memorial Day. Toronto markets are scheduled to reopen.
Organigram Global Inc. managed to hold a small bounce last week, but failed to break out. The cannabis company’s stock on Nasdaq ended Friday at $1.12, off 0.9% for the day. Still, that’s above the $1.07 close from May 15 and close to its recent 52-week low of $1.04.
Traders are watching the calendar. There is no Sunday trading, so the next market session comes after a split holiday schedule. Nasdaq will be closed for Memorial Day on May 25. The Toronto Stock Exchange already marked its May market holiday with Victoria Day on May 18.
Organigram’s Toronto shares finished Friday at C$1.56, slipping 0.6% for the session but still ahead of the C$1.48 level from May 15. Canada’s S&P/TSX Composite advanced 1.9% this week. That left Organigram outpacing the market from its earlier lows.
Organigram shares continue to move off the company’s May 12 earnings. The second-quarter filing showed net revenue down 9% to C$59.8 million. Adjusted EBITDA, which the company uses to track operating profit, fell 82% to C$0.9 million. Organigram posted a C$0.9 million net loss after swinging from a profit.
Chief Executive James Yamanaka said the quarter was dragged by “underperformance in vapes” and “temporary challenges in infused pre-roll production.” Finance chief Greg Guyatt said “margins and profitability were pressured.” He added the business was “beginning to see performance stabilize.” Business Wire
Guidance is one support for the company right now. Organigram lifted its fiscal 2026 net revenue outlook to above C$350 million, citing help from the Sanity Group deal. The previous target was above C$300 million. The company also pointed to expected Sanity business in Europe and new branded sales in Australia.
Pot stocks traded mixed. Tilray dropped 3.1% on Friday, and Canopy Growth slid 2.8%, according to Google Finance. Cronos inched up 0.4%. With peers split, Organigram’s gain on the day looked like a one-off.
The policy setup remains messy. Last month, Reuters said cannabis stocks lost ground after a U.S. rescheduling shift disappointed some investors looking for more. Todd Harrison from CB1 Capital Management pointed out many investors “missed the nuances involved.” Dan Ahrens at AdvisorShares also said the weakness looked like a “sell the news” move. Reuters
Risks remain. Vape demand could stay low, the Sanity deal might drag out, European certification could be delayed, and U.S. reform may stay limited. Any of that could erase Friday’s gain fast. Organigram listed regulatory approvals, consumer demand, crop yields, product returns and competition as things that could throw off its outlook.
Looking to the week, trading starts with expected TSX liquidity on Monday. Nasdaq action picks up Tuesday after the U.S. holiday. The focus is on if C$350 million revenue guidance is enough for buyers after the soft quarter.
