Investing.com – Pot stocks were higher on Tuesday after upbeat earnings results from Aphria.
Aphria Inc (NYSE:) stock surged 23% in midday trade after the Canadian marijuana company surprised investors by posting a profit instead of a loss during its fiscal first quarter.
The company reported a net income of C$16.4 million ($12.4 million), or $0.07 cents per share. Revenue was at C$126.1 million, below the C$131.0 million consensus. But the company reiterated full-year revenue guidance.
The results helped uplight other pot stocks, with Cronos Group (NASDAQ:), Canopy Growth (NYSE:) and Aurora Cannabis (NYSE:) gaining 5%.
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