Let's call it like it is. Aurora Cannabis (NYSE:ACB) is an underperforming stock, with its shares down more than 90% over the last 12 months. That's not only worse than the S&P 500, up over 12% during the same period, but it's not even close to the Horizons Marijuana Life Sciences Index ETF, which includes many of Aurora's peers and has fallen by 46%.
During the last month, we have highlighted Aurora Cannabis Inc. (ACB.TO) (ACB) as a former leader in the Canadian cannabis market and emphasized the company’s need to raise additional capital.
Our prediction came true and today, Aurora Cannabis filed a base shelf prospectus to raise up to $500 million over the next 25 months. The prospectus did not provide much details on the offering as it relates to the type of security that may be sold and we expect to receive more clarity from the Canadian cannabis producer in the near future.
As Americans head to the polls more divided than ever on social and economic issues, there’s one thing they’re actually coming together on: cannabis.
Much has been made of whether a victory for Democratic nominee Joe Biden, or a potential liberal sweep in the Senate, could bolster marijuana companies. But initiatives on the ballot in a handful of conservative states show Republicans are increasingly on board with legalization as well — perhaps paving the way for an end to federal prohibition, no matter who controls Washington.
Goop CEO and founder Gwyneth Paltrow is the latest Hollywood celebrity investing in the cannabis industry. The actress-turned-wellness guru just announced she’s backing Cann, an cannabis-infused beverage maker.
A bill seeking to decriminalize marijuana at the federal level, which was originally scheduled for a vote in Congress Monday, must now wait until after the November general election.
In the second quarter of 2020, the United States recorded the largest drop in economic output since it began being tracked in 1947. Outside the U.S., many global economic indicators are showing similar signs of distress. Despite the global economic downturn resulting from the COVID-19 pandemic, legal marijuana in the United States continues to post record cannabis sales — effectively weathering the storm.
Hemp farmers will have access to the second round of the USDA’s coronavirus relief plan, which will cost $14 billion and continue through December 11.
Hemp farmers are eligible for expanded U.S. Department of Agriculture coronavirus aid under a $14 billion plan announced by the agency last Friday. The program begins today and runs through December 11.
It will be quite some time before we understand the full impact of the COVID-19 pandemic. But history tells us one important thing: during times of crisis, how an industry is regulated often affects its ability to adapt and survive or even gain advantage.
In what it describes as “a landmark decision,” on September 1st, the government of Pakistan announced its intention to legalize hemp, effective immediately.
Two years after legalizing, Vermont lawmakers have reached a final agreement on their proposal for a regulated adult-use cannabis marketplace.
Lawmakers in the Vermont House and Senate came to an agreement last night over legislation to legalize and regulate adult-use cannabis sales. The bill S.54 previously passed both legislative bodies but in different forms. Now, those differences have been reconciled and the bill needs final approval from the House and Senate it heads to the governor’s desk.
