The Financial Post reports in its Saturday edition that Aurora Cannabis is planning to move its U.S. stock listing to the Nasdaq Stock Market because of the exchange's "cost-effectiveness," following similar moves by rivals last year. A Reuters dispatch to the Post says that shares of the Edmonton-based producer, currently listed on the New York Stock Exchange, fell nearly 8 per cent on Friday as it missed expectations for third-quarter revenue, hit by the impact of COVID-19-induced restrictions in Canada. "This listing transfer will enable us to realize cost efficiencies as part of our efforts to deliver long-term value to shareholders," chief executive officer Miguel Martin said in a statement. Fellow pot players Canopy Growth and Aphria in 2020 also moved their U.S. listings to Nasdaq, citing lower costs. Aurora's shares start trading on Nasdaq on May 25 under the ticker symbol ACB.
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