21:36:02 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Aurora Cannabis Inc
Symbol ACB
Shares Issued 1,020,378,291
Close 2019-11-19 C$ 3.11
Market Cap C$ 3,173,376,485
Recent Sedar Documents

Globe says it's time to give Canopy, pot rivals a look

2019-11-20 07:46 ET - In the News

See In the News (C-WEED) Canopy Growth Corp

The Globe and Mail reports in its Wednesday edition that bottom feeders are moving into Canada's pot sector, buying beaten-up stocks after a brutal six-month sell-off. The Globe's David Berman writes that for investors who ignored the sector when the stocks were rallying on frothy expectations, perhaps now is the time to give pot stocks another look. The reason: While stock valuations and investor sentiment have changed, the weed market has not. Canopy Growth shares hit a record high of $73.75 on Oct. 15, 2018, in the days leading up to cannabis legalization in Canada. Since then, the shares have fallen more than 73 per cent, and the biggest losses have occurred over the past six months. In late April, the collective wisdom of the stock market valued the cannabis producer at $24-billion, based on the total value of its outstanding shares. Today, that value has withered to less than $7-billion. Apart from Canopy, Aphria shares have fallen 59 per cent since April and Aurora Cannabis shares are down 76 per cent since March. If this was a speculative bubble, it is now popping. Canopy's biggest 20 investors have increased their holdings, on a net basis, by more than five million shares since the end of September.

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