What a difference an earnings report makes if you're a shareholder of the most popular pot stock on the planet, Aurora Cannabis (NYSE: ACB). Following a precipitous 14-month downtrend that saw Aurora's stock lose as much as 95% of its value and undergo a 1-for-12 reverse stock split in order to avoid being delisted from the New York Stock Exchange, the company's stock has rallied a whopping 158% in a two-day stretch. Both days featured daily volume of close to 100 million, which suggests a lot of short-term trading considering that there are only around 109 million shares of Aurora's stock outstanding (and perhaps less in its float) following its reverse split. Read More...
Aurora Cannabis: More Than Half of Its Total Assets May Be Written Down
What a difference an earnings report makes if you’re a shareholder of the most popular pot stock on the planet, Aurora Cannabis (NYSE: ACB). Following a precipitous 14-month downtrend that saw Aurora’s stock lose as much as 95% of its value and undergo a 1-for-12 reverse stock split in order to avoid being delisted from the New York Stock Exchange, the company’s stock has rallied a whopping 158% in a two-day stretch. Both days featured daily volume of close to 100 million, which suggests a lot of short-term trading considering that there are only around 109 million shares of Aurora’s stock outstanding (and perhaps less in its float) following its reverse split.
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