14.49 -0.04 (-0.28%)
After hours: 7:55PM EDT
|Bid||14.50 x 1400|
|Ask||14.56 x 1100|
|Day's range||13.92 - 14.83|
|52-week range||5.30 - 97.92|
|Beta (5Y monthly)||1.40|
|PE ratio (TTM)||67.27|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Aurora Cannabis (NYSE: ACB) and Canopy Growth (NYSE: CGC) are two of the biggest names in the cannabis industry today. Both companies have struggled with profitability and growing their sales in recent quarters. Investors are better off buying shares of Curaleaf Holdings (OTC: CURLF), and here's why.
Despite recent troubles, Canopy Growth is optimistic its cannabis beverages can dwarf the growth of hard seltzers.
Aurora surprised investors with its better-than-expected Q3 results a couple of weeks ago. At the time of its Q3 update, over 19% of Aurora's outstanding shares were sold short. When Aurora beat expectations, it's a near-certainty that some of the short-sellers quickly moved to cover their losses by buying Aurora stock.
After Aurora Cannabis (NYSE: ACB) posted surprisingly positive Q3 results last week, some might have thought that Canopy Growth (NYSE: CGC) would have good news in its quarterly update this week. Canopy announced its fiscal 2020 fourth-quarter and full-year results on Friday and the marijuana stock fell more than 20% in intraday trading, which gives you an idea of how the company performed in Q4. Here are 10 things to hate about Canopy Growth's Q4 update, along with a couple of things to love.
Canadian cannabis kingpin Aurora Cannabis (NYSE: ACB) closed its acquisition of Massachusetts-based cannabidiol (CBD) maker Reliva LLC last night in a $40 million deal (or more than twice that, if Reliva hits certain financial milestones over the next couple of years). Aurora Cannabis stock plunged more than 10% as soon as trading resumed this morning and hasn't gained back much since -- down 8.5% as of 12:15 p.m. EDT. Aurora interim CEO Michael Singer says the merger will "create a market leading international cannabinoid platform that we believe can deliver robust revenue and profitable growth."
Aurora Cannabis' (NYSE: ACB) latest asset buy is in the books. The company announced on Thursday that its purchase of Reliva, a maker of hemp-derived cannabidiol (CBD) products, has closed. The news comes just over a week after Aurora divulged that it and Reliva had agreed to the acquisition.
In recent weeks, Aurora Cannabis (NYSE: ACB) stock has seen new life. It all started with the company releasing its third-quarter 2020 results on May 14, which showed 18% revenue growth from the prior period. Then, on May 20, the cannabis producer also announced it was acquiring Reliva, a cannabidiol (CBD) brand that would allow it to penetrate the U.S. market.
Vapes and chocolate edibles are among the new cannabis products the company is rolling out to medical marijuana consumers.
Well, here's a twist: The COVID-19 pandemic might have dragged down most sectors, but it is lifting up marijuana stocks for sure. Edmonton, Alberta-based Aurora Cannabis (NYSE: ACB) saw strong demand after Canada legalized recreational marijuana in 2018. External factors including black-market sales and a slow rollout of stores post-legalization made it harder for the company to make a profit; ultimately, investors lost trust, and the stock kept sinking below $1 -- to the point that it was at risk of being delisted from the New York Stock Exchange.
Though marijuana sales have been blazing-hot during the coronavirus pandemic, don't get too high on the monthly sales figures.
When the Canadian cannabis producer uses the word "profitable," it doesn't really mean profitable.
Last week's big cannabis company news was a throwback to the good old days of 2018 or so, with Aurora Cannabis (NYSE: ACB) signing on the dotted line for a buyout. Canada-based Aurora is reaching across the border for that acquisition. It announced it has agreed to buy U.S. hemp-derived cannabidiol (CBD) products maker Reliva in a deal for roughly $40 million in Aurora common stock, plus up to $45 million over the next two years in cash, stock, or a combination of the two if Reliva meets specific financial goals.
Most Canadian licensed producers are likely sitting on underutilized or unused assets that they won't be able to move.
Canadian cannabis company Tilray's (NASDAQ: TLRY) CEO believes that at least 12 marijuana companies will go under this year. In March, Tilray announced that it would be raising $90.4 million through an offering, largely because the company still could. CEO Brendan Kennedy told BNN Bloomberg that he "wasn't sure anyone was going to be able to raise any money in this industry again" and that "when we had the opportunity to strengthen the balance sheet, we did."
The company's revenue was an improvement from the previous quarter, but Aurora still posted a loss.
Aurora Cannabis (NYSE: ACB) stock has skyrocketed by a triple-digit percentage in recent days after the Canadian cannabis producer reported better-than-expected fiscal 2020 third-quarter results. You might think that after this huge gain, Aurora is outperforming rival Cronos Group (NASDAQ: CRON), which posted Q1 results earlier this month that were below expectations. Which of these two marijuana stocks is the better pick going forward?
As a result, many investors are increasingly looking for stability in a volatile stock market. One cannabis company that has been making a lot of noise over the past couple of weeks or so is none other than Aurora Cannabis (NYSE: ACB). Aurora posted a string of poor financial performances last year and earlier in 2020.
Aurora Cannabis's (NYSE: ACB) stock has been wildly fluctuating since the release of its better-than-expected Q3 earnings report May 14 in which the company acknowledged $53.8 million in sales. First, Aurora's stock had an unusually strong day, surging upwards of 70% on Monday. Aurora may soon try to frame its favorable Q3 earnings as a hard-fought success in a market environment where wins are hard to come by.
In Statistics Canada's latest monthly domestic retail sales update, the government's official numbers cruncher revealed that cannabis sales rose by 19% on a month-over-month basis in March to $181 million Canadian (US$130 million). Much of this, it has to be said, is likely due to "stocking up" behavior among cannabis consumers. March is when mandatory business shutdowns necessitated by the the SARS-CoV-2 coronavirus began in many locations, Canada included.
Shares of Aurora Cannabis (NYSE: ACB) sank 6.6% on Friday after analysts at Jefferies downgraded the popular marijuana stock. Jefferies lowered its rating on Aurora's stock from hold to underperform. The investment bank says the recent surge in Aurora's share price is too much, too fast.
For years, there was no hotter investment on the planet than marijuana stocks. Regulatory-based supply issues in Canada, stubbornly high tax rates in the U.S., and financing concerns throughout North America have haunted the industry and sent pot stock valuations tumbling. Arguably the biggest disappointment of all has been Aurora Cannabis (NYSE: ACB).
Mega-caps like Apple saw its equity crash, only to later grow far beyond once expensive valuations. In Canada, federal legalization is in year two of its highly publicized roll out. Just like for technology 20 years ago, help for the cannabis industry is on the way as well.
Shares of Aurora Cannabis (NYSE: ACB) soared on Thursday after the marijuana producer said it reached an agreement to acquire a leading U.S.-based CBD brand. As of 2:50 p.m. EDT, Aurora's stock was up more than 28%. After the market closed on Wednesday, Aurora announced that it struck a deal to acquire Reliva LLC, a popular retail cannabidiol (CBD) brand in the U.S.
Aurora Cannabis (NYSE: ACB) has been in the news a lot lately, and it made a strategic move that caused its stock to soar Thursday. Meanwhile, United Airlines Holdings (NASDAQ: UAL) continued to gain altitude as carriers aim to find a pathway toward getting passengers back into the skies. Shares of Aurora Cannabis jumped 26% on Thursday morning.