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Cannabis Summary for May 11, 2020

2020-05-11 20:16 ET - Market Summary

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by Stockwatch Business Reporter

The S&P/TSX Cannabis Index lost 2.41 points to 121.68 Monday, while the Canadian Securities Exchange Composite Index gained 7.01 points to 322.32. Aurora Cannabis Inc. (ACB) fell 47 cents to $10.45 on two million shares on Monday. If that stock price looks unfamiliarly high for Aurora, it is because it is. The company's 1:12 share rollback took effect today. The rollback gives Aurora a similar share price to that of its similar-sized peers. For example, Canopy Growth Corp. (WEED) is trading at $20.96, Cronos Group Inc. (CRON) is trading at $7.38 and Aphria Inc. (APHA) is trading at $4.57. For shareholders, the change means little -- the stock is still down 90 per cent in the past year. It does, however, ensure that the company will remain trading on the New York Stock Exchange, where it was in danger of suffering the embarrassment of being delisted for falling below the $1 (U.S.) price threshold.

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