Aurora Cannabis Shopify partnership: Want to start a successful cannabis company? You will encounter lots of competition. But despite the rivalry, there is one particular organization that always seems to find its way into the light. That company is Aurora Cannabis. We see a lot of news announced by Aurora, with the latest piece announced today. This time, it involves a new partnership between Aurora Cannabis and Shopify.
Aurora Cannabis Shopify Partnership: Details
Little wonder that most companies think of Aurora Cannabis when discussing the Canadian cannabis industry. Based in Edmonton, Aurora has made some serious waves: a supply agreement with Malta, spinning off US assets, acquiring CanniMed, and securing a supply agreement with Alberta and British Columbia are just some of the company's latest developments.
So are we really surprised that Aurora Cannabis has now partnered with Shopify, a leading online commerce company? Not really. What is surprising, however, is that the Aurora stock is currently down more than 5%, and the SHOP stock is down nearly 2%. More on that later, though.
The Announcement
On Monday, Aurora Cannabis said that it had reached an agreement with the Ottawa-based company to help it transition its current e-commerce website to a Shopify-developed platform.
Why is this necessary? Well, according to Aurora, this will help the company bring "a world-class e-commerce solution to [its] patients."
Shopify (TSX:SHOP) will work alongside the cannabis company's software engineering team, and together, they will focus on improving the Aurora customer experience.
Aurora Cannabis Speaks
In the press release, Darryl Vleeming, the current CIO of the Canadian cannabis company, was quoted as saying that Shopify has a "unique, industry-leading platform," one that helps to provide a "safe, secure, and flexible e-commerce site."
According to Vleeming, the plan is to build on the Shopify platform as Aurora proceeds with its "global growth initiatives," as well as when the company enters different markets.
The Aurora Cannabis Stock (TSX:ACB)
Aurora Cannabis may be partnering with Shopify, but the move isn't evident when looking at the Aurora Cannabis stock price.
According to Google Finance, as of 2:44 p.m., Aurora Cannabis was trading at $8.12, which means the stock was down 5.80% at the time.
Why do you think this is happening? In Aurora's defense, there are a lot of cannabis stocks in the red zone today, so maybe, just maybe, the ACB's drop today has nothing to do with the Shopify news. What do you think?
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