Most cannabis investors are familiar with ACB. Every week the cannabis market is greeted with Aurora Cannabis news. Whether it's a supply agreement with British Columbia and Alberta, or opening up cannabis retail stores, ACB is a leader in the cannabis world.
And why? Because the company has money? Lots of support? Yes and no. It mostly boils down to the fact that Aurora is a smart company, and it knows to enter into various partnerships and agreements, as it will maximize profits.
Today, we've been greeted with more Aurora Cannabis news, but the ACB stock is not reacting well to it.
Aurora Cannabis News: September 5th, 2018
First, on Wednesday, The Green Organic Dutchman Holdings (TSX:TGOD) announced that it came to an arrangement with Aurora Cannabis regarding its investor rights agreement.
Both ACB shareholders and TGOD shareholders reacted poorly to the news. While ACB is down just over 2%, the Green Organic Dutchman is down more than 5%.
Second, Aurora Cannabis partnered with 'Share Her Journey,' a fundraising campaign organized by the TIFF (Toronto International Film Festival). Essentially, it's a campaign intended to prioritize gender parity and create more opportunities for women behind the camera—a great cause, but the market doesn't seem to agree.
Aurora Cannabis Stock (TSX:ACB)
According to Yahoo Finance, as of 1:31 p.m. EDT, Aurora Cannabis is trading at $8.75, which puts the stock down 2.23%.
What's Going On?
Do today's results indicate a bullish trend towards Aurora Cannabis? Probably not. ACB is not the only Canadian cannabis stock seeing red. In fact, there's many, such as Nutritional High International (CNSX:EAT) and Cannabix Technologies (CNSX:BLO).
>> New Study Released by JAMA Psychiatry: CBD May Have Antipsychotic Effects
The Takeaway
Forget the fact that the ACB stock is in the red zone, what do you think about the Aurora Cannabis news? The TIFF partnership? Further, do you have any thoughts on the ACB Green Orangic Dutchman agreement?
Featured Image: Depositphotos/© ra2studio
