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Aurora Cannabis Continues to Climb After US Hemp Market Entry

Aurora Cannabis Continues to Climb After US Hemp Market EntryIn the past couple of weeks, the mammoth marijuana stock Aurora Cannabis (NYSE: ACB) surged back to an appetizing valuation. This Canadian cannabis company is riding high on the news that it will enter the US hemp market through an acquisition of Reliva. The deal is set to close in sometime this month. The initial announcement had shares of Aurora Cannabis surging over 35%.

Investors understand that the value of the US Hemp-derived CBD market will continue to grow in the coming years to over $24 billion – which is very exciting for companies like Aurora that continue to make significant acquisitions in the hemp industry. Currently, the US hemp market is encumbered by strict FDA regulations. As these regulations evolve – so will the valuations of companies like Aurora Cannabis.

Aurora Cannabis: Safe Hemp Stock Play?

Aurora Cannabis Continues to Climb After US Hemp Market Entry

Well, not so fast. According to a recent article by TipRanks analytics, “Wall Street is not convinced that Aurora’s reward is worth all the risk, especially when taking note that TipRanks analytics exhibit ACB as a Hold. Based on 14 analysts tracked in the last 3 months, only 3 rate the stock a Buy, while 9 say Hold and 2 suggest Sell. Indeed, the 12-month stock price forecast stands at $11.35, marking a nearly 19% downside from where the stock is currently trading.”

Prior to the announcement, Aurora Cannabis was trading at an all-time low of $5.30 per share which is difficult to fathom as shares were trading at over $100 just one year ago.  This cannabis stock had a nice little 200% rally after the announcement – reaching highs of $18/share.

Yes, the company has made significant improvements reducing its cash burn rate but we’re not convinced you should buy shares of Aurora at its current price. If you were lucky enough to take a position before the acquisition announcement, great. However, we recommend investors wait and watch this stock. Cannabis investors may want to wait for share prices to fall before consider buying any shares of this marijuana stock.

Aurora Cannabis Continues to Climb After US Hemp Market Entry

About Cannin: Your Cannabis & Hemp Stock Investment Experts

Hemp Stock Algorithmic Stock Trading SoftwareCannin is your resource for information about marijuana stock and hemp stock investment opportunities. Our team of experts evaluates emerging marijuana and hemp stock investing opportunities. We aggregate hundreds of hours of research and provide tips on the best marijuana stock and hemp stock investments for 2020. 

Use Cannin as your resource for breaking cannabis and hemp investing news, featured cannabis and hemp company analysis, comprehensive cannabis and hemp stock reports, or get your free trial now and use our Smart Stock Algorithm to take the guesswork out of profiting from the cannabis industry. We send BUY and SELL signals a day in advance. Is it too late to invest in marijuana or hemp stocks like Aurora Cannabis? No! This is the perfect time to invest.

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