December 4, 2018 / 2:26 PM / a year ago

BUZZ-Aphria: Losses continue despite execs buying stock in show of faith

(Updates price)

** Aphria’s U.S.-listed shares down, coming off a trading halt premarket, despite company management buying stock in show of faith following a critical short-seller report

** Stock now down 10.3 pct premarket, compared with a decline of 11.1 pct before trading was halted

** APHA sank 23.4 pct Monday after a short-seller questioned some of the Canadian cannabis producer’s Latam deals

** Aphria on Monday called the report “a malicious and self-serving attempt to profit by manipulating Aphria’s stock price at the expense of Aphria’s shareholders”

** On Tuesday, in a lengthier statement, Aphria said it “unequivocally stands behind its Latam operations”

** CEO Vic Neufeld said he and other executives has bought APHA stock worth more than $3.1 mln on Monday as a show of confidence in the company’s business, plans and integrity

** Aphria market value was $1.44 bln as of Monday’s close, with the stock down about 60 pct so far in 2018 (Reporting by Savio D’Souza)

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