23:32:47 EDT Thu 04 Jun 2020
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Aurora Cannabis Inc
Symbol ACB
Shares Issued 1,168,958,296
Close 2020-03-10 C$ 1.33
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FP says Aurora at risk of being delisted from NYSE

2020-03-11 08:15 ET - In the News

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

The Financial Post reports in its Wednesday, March 11, edition that the pace of making deals in the already embattled cannabis sector is expected to slow even further. The Post's Vanmala Subramaniam writes that Stoic Advisory analyst Aaron Salz says: "Obviously when you have this level of macro pullback, it always affects risky industries like cannabis the most. I'm seeing it in real time for sure. Groups that were prepared to jump in on deals, have walked away for the time being. It's risk-off right now." Canopy Growth has lost more than 30 per cent in the past two weeks, and Aurora Cannabis, which has been struggling with a severe cash-flow issue, saw its stock decline by 40 per cent in the same period, and is priced such that it is at risk of being delisted from the New York Stock Exchange. Canaccord analyst Matt Bottomley says: "I don't think you're going to see M& A activity for the sake of it, just because companies are cheaper. There is too much growing capacity right now, so it does not make sense for everyone to start combining and merging." He says there are just too many companies that are not cash- low positive, so there is little appetite to want to get involved in them.

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