03:39:19 EST Wed 01 Dec 2021
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Aurora Cannabis Inc (2)
Symbol ACB
Shares Issued 141,282,931
Close 2020-11-26 C$ 11.65
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Globe says Aurora, others soar as states legalize it

2020-11-27 09:01 ET - In the News

Also In the News (C-CL) Cresco Labs Inc
Also In the News (C-WEED) Canopy Growth Corp

The Globe and Mail reports in its Friday edition that cannabis stocks are flying high after voters in New Jersey, Arizona and three other states cleared the way for expanded legal sales of marijuana. An Associated Press dispatch to The Globe says that shares of Aurora, Canopy and Cresco Labs are up between 24 and 75 per cent so far this month. By comparison, the benchmark S&P 500 Index is up 11 per cent. Investors are encouraged because the successful ballot initiatives broaden the potential market for legal cannabis sales and show marijuana is becoming increasingly more accepted throughout the United States. The stocks began rallying after election day. Voters in New Jersey, Arizona, Montana and South Dakota approved legalizing sales of marijuana for adults. South Dakota also approved sales for medical use, as did Mississippi. The expansion of sales to adults alone represents a nearly 20-per-cent increase in the potential U.S. market for legal cannabis. All told, cannabis is now legal for adults in 15 states and the District of Columbia. Thirty-six states allow for some form of access for medicinal use. The successful state ballot initiatives have prompted analysts to revise their outlook for U.S. cannabis sales.

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