ACB - Aurora Cannabis Inc.

NYSE - NYSE Delayed Price. Currency in USD
7.63
+0.17 (+2.28%)
At close: 4:00PM EDT
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Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close7.46
Open7.50
Bid7.56 x 28000
Ask7.60 x 29200
Day's Range7.36 - 7.63
52 Week Range4.05 - 12.52
Volume7,897,828
Avg. Volume16,001,221
Market Cap7.797B
Beta (5Y Monthly)1.99
PE Ratio (TTM)35.32
EPS (TTM)0.2160
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Hedge Funds Have Never Been This Bullish On Aurora Cannabis Inc. (ACB)
    Insider Monkey

    Hedge Funds Have Never Been This Bullish On Aurora Cannabis Inc. (ACB)

    Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]

  • High Tide to Re-Open Canna Cabana Retail Cannabis Stores in Ontario
    CNW Group

    High Tide to Re-Open Canna Cabana Retail Cannabis Stores in Ontario

    CALGARY , April 8, 2020 /CNW/ - High Tide Inc. ("High Tide" or the "Company") (HITI.CN) (HITIF) (2LY.F), an Alberta -based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, is pleased to announce that, as the result of an emergency order approved by Ontario's cabinet on April 7, 2020 , the Canna Cabana retail cannabis stores in Hamilton , Sudbury and Toronto (the "Ontario Stores") will re-open in compliance with the order's scope of operations during the prescribed 14-day period. Many of the staff who were temporarily laid-off from the Ontario Stores are being recalled to fulfill the newly permitted customer orders available to be placed online and by phone.

  • Barrons.com

    Cronos Has a Lot of Cash. That’s Attracting Investors to the Marijuana Stock.

    (CRON) last week was the latest marijuana stock to fall following its latest earnings report. Cash burn has been a major concern for investors following marijuana stocks in recent months. Cronos stock fell in the days following the company’s fourth-quarter earnings report.

  • Aurora Cannabis Inc. (ACB) Stock Sinks As Market Gains: What You Should Know
    Zacks

    Aurora Cannabis Inc. (ACB) Stock Sinks As Market Gains: What You Should Know

    Aurora Cannabis Inc. (ACB) closed the most recent trading day at $0.80, moving -1.27% from the previous trading session.

  • Marijuana Stocks Are Tumbling — Are Any Good Buys As Coronavirus Leads To Demand Spike?
    Investor's Business Daily

    Marijuana Stocks Are Tumbling — Are Any Good Buys As Coronavirus Leads To Demand Spike?

    Are marijuana stocks on U.S. exchanges a good buy now? The marijuana industry gets a lot of hype, but look past the smoke and analyze pot stocks on their fundamentals and technicals.

  • Investopedia

    Individual Investors Chase Blue Chips and Pot Stocks in Sell-off

    Individual investors chase blue chips and pot stocks amid sell-off despite historic market volatility and uncertainty.

  • Barrons.com

    Coronavirus Has Been Good for Cannabis. But Ontario’s Pot Shops Are Deemed Not Essential.

    Canadian producers were counting on a rollout of new stores in the province to help lift the country’s disappointing sales growth.

  • Cannabis Countdown: Top 10 Marijuana And Psychedelic Stock News Stories Of The Week
    Benzinga

    Cannabis Countdown: Top 10 Marijuana And Psychedelic Stock News Stories Of The Week

    Welcome to the Cannabis Countdown. In this week's rendition, we'll recap and countdown the top 10 Marijuana and Psychedelic Stock News stories for the week of March 30th - April 5th, 2020.Without further ado, let's get started.* Yahoo Finance readers, please click here to view full article.10\. COVID-19 Forces Analysts to Reassess, 8 Pot Stocks with Recent Ratings and Price Target UpdatesThe COVID-19 Pandemic Has Changed the Game for Nearly Every Cannabis CompanyIn response to the Coronavirus, many analysts have updated their research on individual Pot Stocks to factor in the virus' impact. Here's a recap of the recent analyst activity including updated ratings and price targets.READ FULL ANALYSTS UPDATES ARTICLE9\. Aurora Cannabis is a "Piece of Crap", This Fund Manager SaysThere Are Many Bargains Out There Right Now But Aurora Isn't One of Them, Says Brian Acker of Acker FinlayAcker appeared (from home) on BNN Bloomberg's "Market Call" program recently and fielded a call on onetime market darling Aurora Cannabis (NYSE: ACB). His answer to whether or not the beaten-down stock was a buy was a resounding no.READ FULL AURORA CANNABIS ARTICLE8\. MindMed Acquires Exclusive License to Eight Clinical Trials of LSDMindMed Partners with World-Leading Psychedelic Research Laboratory at University Hospital BaselThe multi-year deal gives MindMed (OTC: MMEDF) access to largest collection of clinical trials & knowhow for LSD psychedelic research including a Phase 2 clinical trial of LSD for the treatment of anxiety.READ FULL MINDMED ARTICLE7\. NYSE Aims to Boot CannTrust After Concluding Cannabis Producer 'No Longer Suitable for Listing'NYSE Said it Reached its Decision After the CannTrust Obtained a Creditor Protection Order from the Ontario Superior Court of JusticeThe New York Stock Exchange's (NYSE) regulatory enforcement arm has initiated the delisting process for CannTrust Holdings (NYSE: CTST) after concluding the Canadian licensed producer (LP) "is no longer suitable for listing."READ FULL CANNTRUST ARTICLE6\. Pot Stocks Plunge After Another Round of Disappointing EarningsHexo Drops Over 20% After Large Write-Downs, Medipharm Notes Oversupply of Bulk Cannabis Hurt PricesHEXO Corp. (NYSE: HEXO) led Cannabis Stocks down this week after the company reported Earnings that were hit by huge write-downs. MediPharm Labs (OTCQX: MEDIF) fell as well after the company reported net income of $1.9 million versus a net loss of $3.5 million a year ago. Cronos Group (NASDAQ: CRON) also reported earnings this week.READ FULL CANNABIS EARNINGS ARTICLE5\. Cronos Group Will Emerge from this Crisis, Raymond James SaysRaymond James analyst Rahul Sarugaser Reviewed Q4 Earnings from Canadian LP Cronos GroupIn the analyst's update to clients on Cronos Group (NASDAQ: CRON), Sarugaser said the ho-hum earnings coupled with a hitch in the company's U.S. business are enough to trigger a target reduction, but that the stock is still looking attractive at these prices.READ FULL CRONOS GROUP ARTICLE4\. Champignon Brands Bolsters Special Advisory Committee + SHRM Technical Breakout Chart UpdateChampignon Brands Appoints Jay Kheita to the Company's Special Advisory CommitteeChampignon Brands (OTC: SHRMF) announced that it appointed another essential member to its Special Advisory Committee. Mr. Kheita is a founder of AltMed Capital Corp, a leading Canadian Psychedelic medicine clinic operator. Since last week's technical breakout alert, shares of SHRM have surged as much as 77%.READ FULL CHAMPIGNON BRANDS ARTICLE3\. Hollister Biosciences Closes Transformational Venom Extracts Acquisition, Psychedelics Deal Up NextThe Highly Accretive Acquisition Strengthens Hollister's Brand Portfolio While Expanding its Footprint Across Multiple StatesVenom Extracts brings with it 2019 EBITDA of $2.5 million on revenue of $16.4 million, putting Hollister Biosciences (OTC: HSTRF) on the fast track to becoming a cannabis industry leader in 2020. In addition to becoming a leader in the cannabis sector, Hollister is diversifying into the highly promising world of Psychedelics.READ FULL HOLLISTER ARTICLE2\. FDA Grants GW Pharma Priority Review for Cannabidiol Drug in Seizure ConditionThis Status is Usually Granted to Therapeutics That Have the Potential to Treat an Illness That Doesn't Have an Existing TherapyA drug from GW Pharmaceuticals (NASDAQ: GWPH) targeting a cause of genetic epilepsy has received Priority Review status from the U.S. Food and Drug Administration.READ FULL GW PHARMA ARTICLE1\. These 2 Companies Could Be Turning LSD, Magic Mushrooms, Ketamine and MDMA into the Next Blockbuster DrugsInvestors Who Missed the Last Bull Market in Weed Stocks or Got in Too Late Should Start Researching the "Shroom Boom" ImmediatelyEarly cannabis investors and business minds are positioning themselves in the world of Psychedelic Medicine as the flow of smart money hits the market. Canopy Growth (NYSE: CGC) founder Bruce Linton and Billionaire "Mr. Wonderful" Kevin O'Leary from Shark Tank, are going all-in on what they think is a much bigger opportunity than the cannabis boom.READ FULL SHROOM BOOM ARTICLEImage by Stephen VanHove from Pixabay See more from Benzinga * Cannabis Countdown: Top 10 Marijuana And Psychedelics Industry News Stories Of The Week * Cannabis Countdown: Top 10 Marijuana And Psychedelic Stock News Stories Of The Week * Cannabis Countdown: Top 10 Marijuana And Psychedelic Stock News Stories Of The Week(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • High Tide Temporarily Closes Ontario Retail Cannabis Stores and Provides Business Update
    CNW Group

    High Tide Temporarily Closes Ontario Retail Cannabis Stores and Provides Business Update

    CALGARY , April 6, 2020 /CNW/ - High Tide Inc. ("High Tide" or the "Company") (HITI.CN) (HITIF) (2LY.F), an Alberta -based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, today announced that, in compliance with the order issued by the Province of Ontario , the Canna Cabana locations in Hamilton , Sudbury and Toronto (the "Ontario Stores") were closed by 11:59 PM on Saturday, April 4, 2020 for a 14-day period after all retail cannabis stores were removed from the government's list of essential workplaces on Friday, April 3, 2020 . All retail staff at the Ontario Stores have been temporarily laid-off as the Company awaits further updates from the Province.

  • Aurora Cannabis (ACB): Strong Industry, Solid Earnings Estimate Revisions
    Zacks

    Aurora Cannabis (ACB): Strong Industry, Solid Earnings Estimate Revisions

    Aurora Cannabis (ACB) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.

  • Below $1, Is Aurora Stock Finally a Buy?
    InvestorPlace

    Below $1, Is Aurora Stock Finally a Buy?

    The cannabis sector looked like it was ready to come roaring back to life to start 2020. But long before the coronavirus began sweeping through the world, Aurora Cannabis (NYSE:ACB) and its peers were feeling the selling pressure. Aurora stock now trades for less than a buck, causing investors to wonder what's next.Source: Shutterstock I have not been a fan of Aurora stock for some time. Once support failed in the summer, there was no reason to be long this name. I didn't like it in August or in December, and wasn't surprised when it hit new lows in February.Aurora's main problem is similar to many of its peers: it doesn't have strong enough fundamentals to back up its valuation. When the financials aren't the catalyst, a stock needs strong technicals for the bulls to have a chance. But once support gave way, ACB has done nothing but move lower and lower.InvestorPlace - Stock Market News, Stock Advice & Trading TipsWith all that said, I don't like to stay fixed on a position. Meaning that, if the situation warrants going from bearish to bullish, I will. Does Aurora stock deserve that designation? Let's take a closer look. Valuing Aurora StockIf you recall from February, Aurora gave investors plenty to chew on. Its CEO was stepping down and the company took large impairment charges and write-downs. Aurora also announced preliminary fiscal second-quarter results that were well below Street expectations. * 30 Stocks on a Deathwatch Further, the company said, "We believe that the long-term opportunity for Aurora remains very compelling, despite a slower than anticipated rate of industry growth in the near-term."That was before COVID-19 became the world's focal point. However, it's not clear what impact the coronavirus is having on the cannabis space. To some degree, it may actually be helping. Alcohol sales have been on the rise amid the panic, and at least one analyst has made the case that cannabis sales have been steady.While most consumers were okay in mid-March, millions have now been out of work for a few weeks. The longer it takes for them to get back to work, the worse the impact is going to be on the economy. At one point not long ago, New York was a big potential catalyst for cannabis. But with COVID-19 wreaking havoc on the state, it's clear that marijuana legalization is on the backburner, according to the governor.In the most recent quarter, Aurora stock had 156 million CAD in cash. Current assets of 629.8 million CAD easily outweighed current liabilities of 213.9 million CAD. However, in that current asset count was 45 million CAD of restricted cash and over 200 million CAD in inventory.Further, ACB is not free cash flow positive or profitable. Its recent quarter showed a sequential decline in revenue and almost flat year-over-year growth. Guidance for the current quarter put sequential growth at flat to negative. In short, the financials don't get me very excited.Trading ACB StockA look at the technicals reveals a slightly improved situation, but not by much. As you can see from the one-year daily chart, Aurora stock has been trending lower since support near $7 broke in July. Click to Enlarge Source: Chart courtesy of StockCharts.comPurple arrows on the chart highlight this level turning from support to resistance in August. Since then, a series of lower lows and lower highs have followed before shares completely blew out in March.ACB bottomed at 60 cents before rebounding higher with Canopy Growth (NYSE:CGC), Tilray (NASDAQ:TLRY), Cronos Group (NASDAQ:CRON) and others from the space. For Aurora stock, that rally topped out at $1.13 before shares retreated back below $1.So, what now?Shares made an extreme move lower that, with time, may prove to be the low. But at this point in time, we don't know that with any certainty. From here, bulls need to see Aurora put in a higher low. They also need to see the stock break out of this dreadful downtrend. If it can do both -- break the downtrend and begin trending higher -- then Aurora stock may have a place as a speculative holding in one's portfolio.Unfortunately, we're not there yet and because the financials aren't attractive enough on their own, Aurora as a whole is a pass for me. I certainly wouldn't be short at this point, but I wouldn't be long either. Instead, use the market's decline as an opportunity to buy high-quality stocks at a discount.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. More From InvestorPlace * 25 Stocks You Should Sell Immediately * 1 Under-the-Radar 5G Stock to Buy Now * This Stock Picker's Latest Video Just Went Viral * The 1 Stock All Retirees Must Own The post Below $1, Is Aurora Stock Finally a Buy? appeared first on InvestorPlace.

  • Aurora Cannabis Inc. (ACB) Gains As Market Dips: What You Should Know
    Zacks

    Aurora Cannabis Inc. (ACB) Gains As Market Dips: What You Should Know

    In the latest trading session, Aurora Cannabis Inc. (ACB) closed at $0.91, marking a +1.97% move from the previous day.

  • High Tide Reports First Quarter 2020 Financial Results Featuring 173% Revenue Increase over the Same Period of the Previous Year
    CNW Group

    High Tide Reports First Quarter 2020 Financial Results Featuring 173% Revenue Increase over the Same Period of the Previous Year

    High Tide Reports First Quarter 2020 Financial Results Featuring 173% Revenue Increase over the Same Period of the Previous Year

  • Aurora Cannabis (ACB) Stock Gets a Recession Boost; What’s Next?
    TipRanks

    Aurora Cannabis (ACB) Stock Gets a Recession Boost; What’s Next?

    The global economic shutdown due to the coronavirus was a potential nightmare for Aurora Cannabis (ACB). The Canadian cannabis company is in the middle of cutting capacity and costs for the new reality in the market while trying to avoid running out of cash. A complete shutdown of cannabis stores would’ve crushed any remaining hope in financial improvements at the business, but the market has seen the opposite effect of the shutdown actually lead to a boost to cannabis sales as consumers stay at home.Booming SalesOn March 17, Canopy Growth (CGC) announced the closure of all 23 of their retail stores in Canada due to the Covid-19 outbreak. Since this point, sales have soared in Canada as consumers have rushed to purchase weed.Several provinces including Ontario and Quebec have deemed cannabis stores as essential while the Ontario Cannabis Store’s website had the director of communications confirm sales over the weekend doubled the sales from only two weeks ago. Likewise, Nova Scotia reported cannabis sales spiked 76% last week.Whether due to fears of store closures or adult users staying at home with no work, people have flocked to cannabis stores to ensure supplies to wait out the virus from home. In addition, a supplier like Aurora Cannabis gets the extra benefit of not having Canopy Growth stores open.The one major caveat is that Canadian cannabis sales could yet be impacted as the virus outbreak rolls throughout the country and any lingering impact is unknown.RescueThe sales boost couldn’t have come at a better time. The Canadian sector was flooded with cannabis supply and companies were struggling to generate profitable revenue growth. Aurora Cannabis alone had C$216 million in inventory on their books suggesting enough supply for the next year.The company couldn’t afford another quarter of weak sales. Based on the initial sales indications from March, Aurora Cannabis should top analyst estimates for a revenue rebound to C$65 million in the current quarter. The company had net revenues of C$63 million in the December quarter.The company has initiated a cost reduction program to get quarterly operating expenses below C$45 million. A key aspect of any turnaround is for Aurora Cannabis and the sector to actually generate revenue growth in 2020 with new retail stores opening and Cannabis 2.0 products launching. The combination will help cut the EBITDA losses.Ontario was set to start allowing 20 new stores to open per month and the Covid-19 outbreak might provide some regulatory and construction delays, but the market should start seeing consistent growth in the key province. Aurora Cannabis has survived the bottom and can now continue with at-the-market equity sales to raise funds for operations and the last remaining capex spending.TakeawayThe key investor takeaway is that Aurora Cannabis got the sales boost the company needed to get over the hump. The former CEO selling 12.16 million shares into the open market on March 16 was the headline that likely created a bottom in the stock below $0.70.Aurora Cannabis should see the diluted share count balloon to 1.3 to 1.4 billion shares outstanding. As the company approaches an EBITDA breakeven level later in the year with the streamlined operations, the stock will finally get a footing back above $1.According to TipRanks, the consensus on Wall Street is that Aurora stock is a “hold” for investors. But TipRanks might as well have said “buy” — because analysts, on average, think the stock, currently at $0.99, could zoom ahead to $1.71 within a year, delivering 71% profits to new investors. (See Aurora stock analysis on TipRanks)

  • Top Marijuana Stocks That Pay Dividends
    Investopedia

    Top Marijuana Stocks That Pay Dividends

    When most people think of marijuana stocks, the last thing they think of is dividends. The legal marijuana industry is still very young, and new companies in growing industries need money to expand. Furthermore, U.S. investors in the marijuana space tend to currently focus on a handful of Canadian companies that have enjoyed the opportunity to list on U.S. exchanges.

  • Implied Volatility Surging for Aurora Cannabis (ACB) Stock Options
    Zacks

    Implied Volatility Surging for Aurora Cannabis (ACB) Stock Options

    Investors need to pay close attention to Aurora Cannabis (ACB) stock based on the movements in the options market lately.

  • When the Smoke Clears, Canopy Growth Stock Will Be a Winner
    InvestorPlace

    When the Smoke Clears, Canopy Growth Stock Will Be a Winner

    The selloff in the market and in Canopy Growth (NYSE:CGC) stock both continue. Markets plunged again earlier this week, and Canopy stock hasn't been immune to the selling pressure. Now, shares trade back where they did in 2017.Source: Jarretera / Shutterstock.com As I've argued over the past few weeks, investors need to keep their cool. This selloff has not been easy and certainly has not been fun. But over time, the economy and the markets will recover.In the meantime, however, the volatility is dispiriting. However, as I've told subscribers of my Cannabis Cash Weekly service, in these environments investors sometimes have to step back and let the chaos play out.InvestorPlace - Stock Market News, Stock Advice & Trading TipsTaking that step back, the opportunity in CGC stock becomes more clear. The long-term growth opportunity in cannabis is delayed -- not eliminated. Canopy is the industry's leader, and should remain so. In fact, it may emerge with an even stronger position. * 10 Stocks to Invest In for a Post-Coronavirus Whipsaw Canopy isn't going anywhere. This, too, shall pass -- and when it does, CGC stock will rally sharply. Canopy Cuts BackEven before panic gripped the markets, it was becoming increasingly clear that the cannabis industry was headed for a shakeout. And that shakeout is almost guaranteed at this point.In the sector as a whole, there is too much debt and too much capacity. Canopy chief executive officer David Klein made precisely that point in an interview on Feb. 14. "There's not a lot of market demand for cannabis production facilities," he told Yahoo! Finance. "There's a lot of capacity in Canada and no logical buyers."That capacity is why Canopy announced earlier this month that it was closing two facilities in British Columbia. Furthermore, a greenhouse project in Ontario also is being canceled. Canopy isn't throwing good money after bad.Wall Street largely cheered the move -- for good reason. It cuts Canopy's costs, and in turn, speeds its path toward profitability. It also keeps the company from participating in "race to the bottom" pricing in wholesale cannabis.It's also a decision many other cannabis companies won't be able to make. An Industry Shakeout LoomsCanopy can make that decision because of its fortress balance sheet. In 2018, Constellation Brands (NYSE:STZ,NYSE:STZ.B) invested some $4 billion into Canopy Growth.Much of that money has been spent. Canopy has made acquisitions, and spent heavily to build out production assets. In fact, it's clear in retrospect that previous management spent too much. That's a key reason why Constellation sent Klein -- formerly its chief financial officer -- to take the top spot at Canopy.However, Canopy still has a good chunk of that cash remaining. As of Dec. 31, the company had 2.3 billion CAD (about $1.6 billion) in cash on its balance sheet. With losses coming down and long-term debt of just 536 million CAD ($373 million), the company is in excellent financial shape.To put it simply, Canopy isn't going bankrupt -- but other producers will. There's a real chance the equity in Aurora Cannabis (NYSE:ACB) gets wiped out, one reason I've long recommended even cannabis bulls avoid that name. Moreover, MedMen Enterprises (OTCMKTS:MMNFF) had to call off its acquisition of PharmaCann -- likely due to financing worries. Its OTC stock price -- just 19 cents -- shows its desperate state.The news is just as bad, if not worse, for many smaller, private operators. Those companies don't have the cash to weather store closures or any short-term effects.Canopy, however, does. And that positions it well going forward. How CGC Stock Can BenefitCertainly, a worldwide pandemic is not how anyone hoped the cannabis industry would become more rational. But it's also likely that the response to the coronavirus from China simply will be the catalyst, not the cause. Given debt levels and overcapacity, many smaller operators were going to fail regardless.That said, Canopy would benefit either way. In fact, a recent transaction shows how. Last week, Canopy and TerrAscend (OTCMKTS:TRSSF) entered into a loan agreement. Canopy is lending TerrAscend 80.5 million CAD, backed by TerrAscend's assets.The loan has an interest rate of 6.1% annually over the next decade -- but that's not the prize. Canopy also received more than 17 million warrants to buy TerrAscend shares, most of them at an exercise price of 3.74 CAD per share.If TerrAscend, which currently trades below 2 CAD, posts a huge rally, Canopy will get its money back while also owning a nice chunk of the company at an attractive price.If it doesn't, though, Canopy has first claim on its assets, brands, and retail operations.This kind of savvy deal is what Klein was hired to make. And it highlights the opportunities Canopy will have for the next few years. The company can patiently wait out the upheaval in its industry, and pick its spots to make investments that can drive significant value.Of course, that's exactly what investors should be doing right now. As they do so, they should give at least a long look to Canopy Growth stock.Matthew McCall left Wall Street to actually help investors -- by getting them into the world's biggest, most revolutionary trends BEFORE anyone else. The power of being "first" gave Matt's readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA) and +1,044% in Tesla (TSLA), just to name a few. Click here to see what Matt has up his sleeve now. Matt does not directly own the aforementioned securities. More From InvestorPlace * America's Richest ZIP Code Holds Wealth Gap Secret * 10 of the Best Long-Term Stocks to Buy in a Bear Market * 7 "Perfect 10" Healthcare Stocks to Buy Now * Where the FANG Stocks Sit in This Wild Market The post When the Smoke Clears, Canopy Growth Stock Will Be a Winner appeared first on InvestorPlace.

  • Here's How Coronavirus Can Impact Cannabis Industry
    Zacks

    Here's How Coronavirus Can Impact Cannabis Industry

    Marijuana should be avoided during the pandemic as users share marijuana joints, which may increase the spread of the virus.

  • Top Marijuana Stocks for April 2020
    Investopedia

    Top Marijuana Stocks for April 2020

    The marijuana industry is made up of companies that either support or are engaged in the research, development, distribution, and sale of medical and recreational marijuana. Some of the biggest companies in the marijuana industry include Canopy Growth Corp. (CGC), Cronos Group Inc. (CRON), and GW Pharmaceuticals PLC (GWPH). Marijuana stocks, as represented by the ETFMG Alternative Harvest ETF (MJ), have dramatically underperformed the broader market, posting a total return of -73.4% compared to -12.1% for the S&P 500 over the past 12 months. These market performance numbers and the statistics in the tables below are as of March 17.

  • Pot smokers stock up for pandemic on ‘the vice of choice when alone’
    MarketWatch

    Pot smokers stock up for pandemic on ‘the vice of choice when alone’

    As Americans faced seclusion due to the COVID-19 pandemic, shoppers in San Francisco had the option of stocking up on one popular product with a minimal amount of human interaction: Marijuana.

  • Aurora Cannabis Founder Dumps 12 Million Shares, and Jefferies Is Not Amused
    TipRanks

    Aurora Cannabis Founder Dumps 12 Million Shares, and Jefferies Is Not Amused

    Terry Booth, the founder and one-time CEO of Aurora Cannabis (ACB), has just sold 12.2 million shares of the company he once ran -- a development, says Jefferies analyst Owen Bennett, that is "not great for sentiment" about the stock.You don't say!As Aurora announced in a press release Monday, "Terry Booth has filed a report on the System for Electronic Disclosure by Insiders (SEDI) regarding his sale of approximately 12,161,900 shares into the open market ... in connection with the previously announced transition of Mr. Booth's role within the Company." The transition in question being, of course, Booth's resignation as CEO announced last month.Why is Booth selling now? One might imagine that, because Booth is leaving the company, he'd want to cut ties with Aurora entirely, and is therefore selling off his stake in order to make as clean a cut as possible. But as Bennett points out, Booth "remains in a strategic advisor role" at the company. He has not in fact cut ties entirely. Moreover, as an important advisor to Aurora Cannabis, he presumably has a good insider's vantage point to how things are going within Aurora, and what the company's prospects look like.In Bennett's estimation, Monday's stock sale suggests that Booth may see "some more difficult times ahead."Which is not to say that the times behind Aurora have been all unicorns and rainbows. Indeed, a chart of Aurora Cannabis's fortunes over the past 12 months shows an almost straight line down from the top left axes to the bottom right, as Aurora Cannabis stock has sunk from a share price of nearly $10 a year ago, to $0.70 today -- a decline of 93%.Most recently, Bennett notes, the company has lost its Chief Corporate Officer (Cam Battley, who resigned in December), followed by an announcement of a restructuring plan, including new "ambitious profitability targets" that no one seems to have much faith in.Fact is, most analyst estimates still don't see Aurora turning GAAP profitable before 2023 at the earliest -- and the way things are going, the company may not make it that long. At last report, Aurora Cannabis was deeply unprofitable ($1.1 billion lost last year), burning cash (about $610 million burnt last year), and mired in debt (nearly $350 million in long term debt, against cash reserves of only about $140 million).Sure, to hear management tell it, Aurora remains "the Canadian company defining the future of cannabis worldwide." Executive Chairman and Interim CEO Michael Singer still insists, "the Board and management remain focused on the plan we laid out in February and we are progressing as planned toward appropriate capital allocation, balance sheet strength, and profitability." And even Booth says he's only selling because "market volatility with respect to COVID-19 and a number of opportunities in the industry led to me taking some cash to the sidelines ... I believe many cannabis stocks including Aurora are undervalued and I will be watching present market conditions unfold. I will definitely be considering buying back in once the dust settles."Regardless, actions speak louder than words. Investors owning the stock today, and seeing its founder dumping his shares  -- even with an expressed intention of perhaps buying back later -- might now be thinking to themselves "maybe we should think about buying back later, too, but for now -- sell!"Turning now to the rest of the Street, it appears that other analysts are generally on the same page. With 12 Holds, 4 Sells, and just single Buy, the consensus rating comes in as a Hold. The average price target among these analysts stands at $1.87, which is about 165% higher than ACB's current value -- most likely a result of the quick drop and analysts’ inability to turnaround new price targets so quickly. (See Aurora Cannabis stock analysis on TipRanks)To find good ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

  • Aurora Founder, Former CEO Terry Booth To Sell 12.16M Shares
    Benzinga

    Aurora Founder, Former CEO Terry Booth To Sell 12.16M Shares

    Aurora Cannabis Inc. (NYSE: ACB) announced Monday that founder and former CEO Terry Booth has disclosed the sale of around 12.16 million shares of the company.The sale of Aurora's shares is linked with Booth's resignation from the position of CEO last month, the cannabis company said."The board and management remain focused on the plan we laid out in February and we are progressing as planned toward appropriate capital allocation, balance sheet strength, and profitability. We look forward to updating the markets on our next quarterly earnings call," Executive Chairman and Interim CEO Michael Singer said in a statement.Aurora's shares were trading 5.42% lower at 73 cents per share during Monday's pre-market session.Related Links:Why Restructuring Efforts Don't Necessarily Signal The End Of A Cannabis Company's DownturnAurora Cannabis Analyst Sees Power In Restructuring, Still Projects Stock VolatilityPhoto courtesy of Aurora. See more from Benzinga * Tilray Shares Fall After Q4 Print, Analyst Questions Positive EBITDA Projection * Aurora Cannabis Analyst Sees Power In Restructuring, Still Projects Stock Volatility * Aurora Cannabis Analyst Says Company Needs 'Much Work On Costs'(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • MarketWatch

    Aurora Cannabis ex-CEO Terry Booth sells 12.2 million of his company shares

    Aurora Cannabis Inc. said Monday its former Chief Executive Terry Booth has sold 12.2 million of his company shares into the open market. This deal "is in connection with the previously announced transition of Mr. Booth's role within the company. U.S.-listed shares of Aurora, the most widely held stock on the Robinhood platform, were down about 12% in premarket trade.

  • PR Newswire

    Aurora Cannabis Announces Share Sale by Founder Terry Booth

    Aurora Cannabis Inc. (the "Company" or "Aurora") (NYSE | TSX: ACB), the Canadian company defining the future of cannabis worldwide, today announced that Terry Booth has filed a report on the System for Electronic Disclosure by Insiders (SEDI) regarding his sale of approximately 12,161,900 shares into the open market. This transaction is in connection with the previously announced transition of Mr. Booth's role within the Company.