Cannapany on January 3, 2020 No Comments
The leading cannabis company started 2020 on a positive note, and things are only going to improve
Now that Aurora Cannabis (TSE: ACB) has been able to reorganize its executive tier and pull the team together tighter than ever, 2020 is going to prove to be a very good year for the leading cannabis company. 2019 was a tough year for the entire industry, but there are a lot of positive trends coming in 2020 that are going to allow things to turn around. Already sitting at the top of the ranks, Aurora is going to be in a great position to see better growth as the year rolls forward.
New regulations are coming in the US that are going to better define the national cannabis space. This is going to allow Aurora to move forward with its expansion plans in the country and capitalize on what will ultimately be a huge market. Additionally, the expansion of Canada’s cannabis market, with the introduction of legal derivatives sales, is going to continue to prove lucrative.
Investors continue to believe in the company, as evidenced by its stock price. It still remains higher than the 2019 close and is showing signs of upward movement. There are also new options available for trading, as of yesterday, which expire on February 14. Per NASDAQ, “The put contract at the $1.50 strike price has a current bid of 2 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $1.50, but will also collect the premium, putting the cost basis of the shares at $1.48 (before broker commissions). To an investor already interested in purchasing shares of ACB, that could represent an attractive alternative to paying $2.06/share today.”
This is good news for investors, as now is a great time to pick up some additional Aurora shares before the price rebounds. When that happens, it is expected to reach its previous highs and Aurora will be on track once again to fulfill its global ambitions.
Congratulation!