Since Tuesday, September 18th, the cannabis market has been talking about the potential Aurora Cannabis dual listing. Not just talking about it, either; cannabis investors have been rushing the stock—which explains why ACB did as well as it did today, September 20th.
Aurora Cannabis Dual Listing: Stock Reaping Benefits
On September 18th, the Finacial Post reported that Aurora Cannabis (TSX:ACB) plans to list its shares on a US exchange next month. Of course, this isn't a guarantee, but a spokesperson for the Canadian cannabis company said that "Aurora is targeting the month of October."
And why wouldn't Aurora Cannabis list on a US stock exchange? The ACB stock is very successful on the Toronto Stock Exchange; the company has acquired a massive following and has signed more than one supply agreement ahead of the Canadian October legalization.
Plus, we all remember how Tilray's (NASDAQ:TLRY) debut on the Nasdaq went, don't we? When shares increased 30%, exceeding its IPO pricing? If Tilray, a medical cannabis company, can do it, Aurora certainly can.
Aurora Cannabis has yet to say which US exchange it is interested in listing on. Currently, Aurora is already listed on the OTCQX.
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Aurora Cannabis Stock Price
Looking at the ACB stock, you can conclude that the cannabis market agrees that an Aurora Cannabis dual listing is a smart move. Or maybe the stock was up Thursday because of other rumors, like a potential Aurora Cannabis Coca-Cola partnership—but the dual listing makes more sense.
Whatever the reason may be, Aurora Cannabis was still one of Thursday's trending cannabis stocks.
At market close, Yahoo Finance reports ACB trading at $12.25; this means Aurora Cannabis closed the day up 12.70%.
The Takeaway
Do you want to see ACB on a US exchange? Or are you wary or unsure of whether Canadian cannabis stocks should migrate to American markets? Keep in mind that Aurora does already list on the OTCQX exchange.
Let us know what you think in the comments below. And don't forget to check back in next week for more Aurora Cannabis news, as well as general cannabis stock news.
Featured Image: Depositphotos/© Wavebreakmedia
