Cannabis Watch: Cannabis companies rally for a second day ahead of historic vote that would lift federal ban on weed [MarketWatch]
Aurora Cannabis Inc. - Common Shares (ACB)
Company Research
Source: MarketWatch
Cannabis companies rally for a second day ahead of historic vote that would lift federal ban on weed Cannabis stocks rallied for a second day Wednesday, buoyed by a historic congressional committee vote on a bill that would lift the federal ban on weed, as well as strong gains for Curaleaf after it posted a narrower-than-expected third-quarter loss. Curaleaf’s U.S.-listed shares CURLF, +11.82% CURA, +12.19% were last up 11.5%, as investors shrugged off its revenue miss. The Massachusetts-based company posted a loss of $6.8 million, or a penny a share, versus losses of $33.7 million, or 9 cents a share in the year-ago period. Revenue rose to $61.8 million from $21.4 million. Analysts polled by FactSet had expected losses of 2 cents a share on revenue of $63.6 million. GMP analyst Robert Fagan, who rates the stock a buy, said the numbers were “largely in line with our relatively high expectations.” The revenue number was below his estimate of $67 million. He highlighted positives
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ACB
Analyst Actions
- 2/8/24 - CANACCORD
ACB
Sec Filings
- 3/1/24 - Form 6-K
- 2/16/24 - Form 6-K
- 2/8/24 - Form 6-K
- ACB's page on the SEC website