|Bid||8.79 x 0|
|Ask||8.80 x 0|
|Day's Range||8.45 - 8.93|
|52 Week Range||5.29 - 16.24|
|Beta (3Y Monthly)||2.28|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 7, 2019 - May 10, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||13.79|
With Thailand’s legalization of medical cannabis in February, some experts predict that other Southeast Asian countries may move to decriminalize the plant. Consultancy Prohibition Partners estimates that Asia’s medicinal cannabis market could by 2024 be worth $5.8 billion. At the end of 2018, Canada, the United States, and Mexico agreed on new terms to replace the North American Free Trade Agreement (NAFTA).
Aurora Cannabis shares tumble Thursday to pull the overall sector lower, after an analyst at Bank of America Merrill Lynch downgraded the stock on concerns about its rate of spending cash.
Curaleaf is buying expansion with its $875 acquisition of Grassroots. Meanwhile, OrganiGram reported Q3 results, and Aurora Cannabis had a good news/bad news week.
Aurora Cannabis is burning through cash, prompting a BofA downgrade. Aurora Cannabis fell along with other marijuana stocks.
On Thursday, Bank of America downgraded Aurora Cannabis stock (ACB) to “neutral” from its previous “buy” rating. Here's why.
Aurora could be considered "among the best" cannabis companies and similar to its peers, Aurora is bleeding out cash, Carey wrote in the note. Aurora's cash position is "less robust" compared to its peers and is on track to turn negative as early as the first quarter 2020.
Aurora Cannabis Inc. shares fell 2.3% in early trade Thursday, after BofA Merrill Lynch downgraded the stock to neutral from buy and lowered its stock price target to $8 from $10, on concerns about the company's cash burn. "Aurora has emerged as one of the best operators in the cannabis sector, with industry leading scale and margins even vs other large peers, and global optionality," analyst Christopher Carey wrote in a note to clients. "However, despite this, and a focus on profit, (CQ2 positive EBITDA target), it is burning cash and by our estimates could be cash negative by CQ120 (absent financing), namely if a large convertible debenture due in CQ120 stays out of the money." Even if its current cash burn were to improve, Aurora will likely need funding in the next few quarters," said the analyst The company has access to about C$100 million in a credit facility, but a convertible note that matures in the first quarter of 2020 will likely need to be paid in cash, he wrote. Shares have gained 47% in 2019, while the S&P 500 has gained 19%.
Aurora Cannabis Inc. (NYSE: ACB) announced Thursday it has won the Italian government’s public tender to supply medical marijuana in Italy. Aurora Cannabis was the only company to meet the demanding requirements of the tender, with the Italian cannabis market being one of the most strictly regulated in the world. Benzinga's Cannabis Capital Conference heads to Detroit on Aug. 15 -- Click here to learn more!
Brightfield Group estimates that the CBD market could hit about $23.7 billion by 2023. However, regulatory hurdles could impact the US market.
Canadian pot producer Aurora Cannabis Inc said on Thursday it had secured a two-year contract to supply medical cannabis to the Italian government. The company will supply a minimum of 400 kg of medical cannabis to the country, one of the most strictly regulated medical cannabis markets in the world. Aurora said it will supply cannabis from its Canadian EU GMP certified facilities and imported into Italy through Aurora Deutschland, its wholly-owned European unit.
Cannabis stocks were mostly higher Wednesday, with Curaleaf leading the pack after announcing an $875 million stock-and-cash deal that will help it expand into new states, including Illinois.
EDMONTON , July 18, 2019 /CNW/ - Aurora Cannabis Inc. ("Aurora" or the "Company") (ACB) (ACB), the Canadian company defining the future of cannabis worldwide, announced today that the Company has been selected as the only winner of the Italian government's public tender to supply medical cannabis in Italy . The supply contract is expected to be signed in September 2019 .
Apolo II Acquisition Corp. (the “Corporation”), a “capital pool company” pursuant to the policies of the TSX Venture Exchange (the “Exchange”), is pleased to announce that it has entered into a definitive business combination agreement (the “Definitive Agreement”) dated July 17, 2019 with Terrace Inc. (“Terrace”) and Terrance Acquisition Corp. (a wholly-owned subsidiary of the Corporation) (“Subco”) in furtherance of the Corporation’s previously announced proposed Qualifying Transaction (as such term is defined in Policy 2.4 – Capital Pool Companies of the Exchange’s Corporate Finance Manual (the “Manual”)) (the “Proposed Transaction”). Terrace was incorporated pursuant to the provisions of the Business Corporations Act (Ontario) (the “OBCA”) on August 28, 2018.
Ladenburg Thalmann initiated coverage of the cannabis sector, with preference for companies focused on long-term value creation.
On Monday, OrganiGram (OGI) reported its third-quarter earnings. Following the company's earnings, we reported how it performed in the third quarter. To learn more, read OrganiGram’s Third-Quarter Earnings. Interestingly, OrganiGram stressed that the growth would be heavily driven by retail stores opening in Ontario and Quebec. The company stated that legalizing edibles and derivative products […]
Organigram earnings missed Q3 views. Aurora Cannabis got two new cultivation licenses. Organigram, Aurora and other marijuana stocks rose.