$2 by weeks end, page-57

Those got in at IPO, are very lucky.
Market cap:
AGH: $120m
AC8: $307m
CAN: $385m
Aphria: $5b (holds 35% of AGH)

At low 50s, it's worthy a punt, imo.

Aphria: The Best Value Of The 'Big 5' Cannabis Producers

Sep. 24, 2018 3:26 PM ET

Jonathan Cooper



Summary

Aphria boasts supply agreements with every single Canadian province and also with the Yukon Territory - more agreements than any other cannabis producer and covering 99.8% of Canadians.
Aphria has a clean balance sheet and will not need to raise additional capital to get up to 255,000 kg/year of production.
Aphria is cheaper than its peers on a relative valuation, especially when considering two large private supply deals with Auxly and Emblem.
I rate Aphria as a Buy.
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(All prices herein are in Canadian dollars unless otherwise specified.)



(Author's estimates; Tilray extends far off this chart; excludes private supply deals; percentage is percentage of Canadians in deals with undisclosed quantities)
Executive Summary

Aphria (OTCQB:APHQF) is a large Canadian cannabis producer - third in size based on production and fourth-largest in terms of market value.
Aphria has a skilled management team and has been able to secure supply agreements in all 10 provinces and the Yukon Territory - more announced deals than any other company. In addition, Aphria has private supply deals that could add another 55,000 kg/year of sales and has extensive international operations in the Americas, Europe, Africa, and Australia.
Aphria has a strong balance sheet with ~$335 million in net cash, should not need to raise capital to make it to legalization and should be cash-flow positive once recreational cannabis is legalized. Aphria has a market cap of ~$5.1 billion and an enterprise value of ~$4.6 billion, placing it as the fourth-most valuable cannabis company.
Compared to its "big five" peers, Aphria is a great value. Its current sales are comparable to larger peers like Tilray (TLRY) and Aurora (OTCQX:ACBFF), while it has more supply agreements (in number and covered Canadians) than both of those companies. Aphria's relative valuation is attractive compared to its peers, especially when considering Aphria's large private supply deals.

https://seekingalpha.com/article/4207975-aphria-best-value-big-5-cannabis-producers