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Aurora Cannabis Stock Value Finds Halloween Day Foothold after NYSE Debut Losses

Aurora Cannabis Stock Value Finds Halloween Day Foothold after NYSE Debut LossesAurora Cannabis’ debut on the New York Stock Exchange (ACB: NYSE) was met with the unfortunate timing of a report that downgraded the rating of cannabis investments. The report made by DBRS, which is a global credit rating agency that was founded in Toronto, changed the rating of cannabis sector investments to a b-rating. It is very likely that the timing of DBRS’ b-rating, or non-investment grade rating, and the fact that October of 2018 has been the NASDAQ’s worst October in 10 years, played a big part in immediate decrease in value when Aurora Cannabis debuted with the stock ticker symbol of ACB on October 23rd.

ACB was able to regain 11.66% on October 31st and closed at $6.79 before after-hours trading began. Before the stock debuted on the NYSE it had closed on October 22nd at $8.69 per share and fell to $7.70 on the date of its initial public offering (IPO) on October 23rd. The stock continued to decrease throughout the week of its debut and closed its first week at $5.91. The last time ACB traded under $6 per share was on August 20th of this year and from there it continued to increase to its second all-time high close of $11.68 on October 16th.

Aurora Cannabis Stock Value Finds Halloween Day Foothold after NYSE Debut Losses

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