Organigram Stock Bounces Off Lows; Margins in Focus Next
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.