Aphria (TSXV:APH) (OTC:APHQF) officially listed its stock on the OTC Pink Sheets, joining peers Aurora Cannabis (CSE:ACB) (OTC:ACBFF), OrganiGram (TSXV:OGI) (OTC:OGRMF), which trades on the OTCQB, and Supreme Pharma (CSE:SL) (OTC:SPRWF). Until June 10th, its stock had been listed as “Grey Market”, with no quotation of bids and offers provided to investors. OTC Markets explains the listing requirements, and there is a small cost associated with the move. The company will continue to file financial statements in Canada on SEDAR.
While the fundamentals of the company will ultimately drive the stock price, listing officially in the U.S. will likely improve liquidity for the company’s stock, widening the investor base in the U.S. potentially. U.S. investors have traded OGRMF and SPRWF very actively over the past year, showing a preference for U.S.-listed securities. The alternative is to open an investment account that allows one to trade in Canada. Otherwise, without a listing in the U.S., the stock, which is an unsponsored American depository receipt (ADR) that has been issued without company consent, trades without bid and offer. We reached out to the company for an update but haven’t heard back yet.
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