Cannabis Watch: Aurora Cannabis stock falls in rising sector after analyst says it looks overvalued [MarketWatch]
Aurora Cannabis Inc. - Common Shares (ACB)
Company Research
Source: MarketWatch
Aurora Cannabis stock falls in rising sector after analyst says it looks overvalued Cannabis stocks were mostly higher Tuesday as the broader market rallied on an easing of China trade fears, with Aurora Cannabis a rare splash of red after Piper Jaffray initiated coverage with a neutral rating, citing its rich valuation. Aurora ACB, +0.06% ACB, +0.34% , the most widely held stock of the Canadian licensed producers, fell 1.1% on the move, which stands in contrast to the equivalent of buy rating (outperform) that Piper assigned to five other cannabis names it started coverage of Tuesday. Analysts led by Michael Lavery said they lacked visibility on parts of their long-term strategic checklist. “Aurora has a premium valuation relative to peers but less visibility on these key growth opportunities,” Lavery wrote, referring to Canada, the European Union, and the U.S. CBD and U.S. THC markets. The latter two are ingredients in the cannabis plant; CBD is nonintoxicating but widely hel
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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