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Aurora Cannabis Inc
Symbol ACB
Shares Issued 1,020,378,291
Close 2019-11-25 C$ 3.33
Market Cap C$ 3,397,859,709
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Globe says Aphria, rivals hear retail investors hurting

2019-11-25 07:34 ET - In the News

See In the News (C-APHA) Aphria Inc

The Globe and Mail reports in its Monday, Nov. 25, edition that Scotia Wealth director Elliott Fishman says very little investor money is now going into cannabis names through his brokerage's retail platform. The Globe's Tim Shufelt writes that companies that need money have had to resort to debt financing with hefty interest rates. Amid that brutal reckoning, many cannabis shareholders have ridden their holdings all the way down. York University finance professor Mark Kamstra says, "It's pretty common for the retail investor just to hold on until the bitter end." Prof. Kamstra studies asset bubbles. Justin Caron, a grief counsellor for bereft investors facing disastrous financial losses, says inexperienced investors not only dramatically overexposed themselves to a speculative sector, they also did not have a plan in place in case of a sell-off. Facing losses of 50 per cent or more, they consider their only option at this point to be holding out for a recovery, he adds. "A lot of people are saying they don't even want to log into their accounts." Mr. Fishman says investors will need to separate the probable winners from the losers, pay attention to valuations, and focus on the path to profitability.

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