Why is Aphria stock dropping?
Aphria stock was sinking Thursday morning after the Canadian marijuana grower reported a wider-than-expected net loss as sales missed expectations. For the first quarter of fiscal 2021, the grower (ticker: APHA) reported a net loss of 5.1 million Canadian dollars (US$3.86 million), or 2 Canadian cents a share.
Although Aphria has fallen in recent days to below $5 (it was trading at more than $6 earlier this month), the stock is still nowhere near its 52-week low of $1.