$APHA Looks To Have Bottomed

AAPHA is out today with a strong earnings report and the fundamentals point to the worst being over for the company.

Here are the highlights:

Cannabis products producer Aphria (NYSE:APHA) is up 22% premarket on light volume in reaction to its fiscal Q1 results released this morning. Highlights:

Revenue: 126.1M (+849%); adult-use cannabis revenue: 20M.

Kg equivalents sold: 5,969 (+7%). Average retail price per gram: $7.56 (-1%).

Net income: 16.4M (-23%); non-GAAP EBITDA: 1.0M (+125%).

600K plants being cultivated in Aphria One facility.

Fiscal 2020 guidance: Revenue: 650M - 700M (distribution revenue will represent slightly more than half); non-GAAP EBITDA: 88M - 95M.

We repeat, AAPHA is profitable. Shares have a lot of room to make up on the upside.

As always, trade with caution and use protective stops.

Good luck to all!