Aphria Inc (NYSE: APHA) is having a great start to the trading session today after announcing that its Colombian subsidiary has entered into an agreement with Federación Médica Colombiana, also known as FMC. Of course, the news excited investors, leading to gains in the value of the stock. Today, we’ll talk about:
- The news;
- what we’re seeing from APHA stock as a result; and
- what we’ll be watching for ahead.
APHA Announces Colombian Agreement
As mentioned above, Aphria is having a great start to the trading session this morning after announcing that its Colombian Subsidiary has entered into an agreement with the FMC. The FMC is a national guild that oversees the ethical exercise of the medical profession in Colombia and works to jointly develop an academic curriculum on the medicinal use of cannabis.
This is great news for APHA and its investors as the FMC currently has nearly 2,000 affiliated doctors and a database of more than 70,000 medical professionals that access the organization for research and educational resources.
In a statement, Gabriel Meneses, VP of LATAM & Carabbean at APHA, had the following to offer:
Education in the medical community is critical for sustaining the advancement of medical cannabis in Colombia… Colcanna is proud to make this exclusive arrangement with Federación Médica Colombiana, which will offer doctors and medical professionals across the country a credible and trusted source of information and training on medical cannabis.
The above statement was followed up by Jakob Ripshtein, President at APHA. Here’s what he had to offer:
As a leading global cannabis company, Aphria is committed to the long-term advancement of medical cannabis in every market in which we operate, through our diversified approach to innovation, strategic partnership and expansion… Partnerships like this between Colcanna and FMC are a direct result of our comprehensive approach to establishing a leading foothold in Colombia , throughout Latin America and in markets around the world.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of Aphria, the news proved to be overwhelmingly positive. After all, the new agreement will greatly expand the company’s audience. Moreover, it shows that the company’s continuous efforts to expand its global footprint are paying off. So, it’s not surprising to see that excited investors are pushing the stock on a run for the top in the market this morning. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (11:11), APHA is trading at $6.17 per share after a gain of $0.47 per share or 8.25% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the iWatch Markets team will continue to keep a close eye on APHA. In particular, we’re interested in following the company’s work with regard to the expansion of its global footprint as recent announcements show that it has been busy and that its efforts are paying off. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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