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Tuesday, November 24, 2020

Aurora Cannabis Inc (OTCMKTS:ACBFF) is Surging Up the Chart

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Aurora Cannabis Inc (OTCMKTS:ACBFF) has been working through a corrective wave as we approach the final homestretch in coming months ahead of full recreational legality across the Canadian marketplace. Shares are beginning to find some traction on a technical level, and it’s not hard to see why fresh capital might be moving in. The company is now sitting on over $350M in cash and has plenty of options to continue its aggressive investment and expansion, which is quite appropriate given the high ROI context of the cannabis space at present.

On that note, the company just announced that it has entered into an agreement to become a medical cannabis supplier to Shoppers Drug Mart. According to the release, “Subject to Health Canada’s approval of Shoppers Drug Mart’s application to be a licensed producer, under the terms of the agreement the Company will supply Shoppers Drug Mart (“Shoppers”) with Aurora branded medical cannabis products. It is expected the products will be sold online, as Canadian regulations currently restrict the sale of medical cannabis in retail pharmacies.”

Aurora Cannabis Inc (OTCMKTS:ACBFF) is a licensed producer of medical marijuana pursuant to the Marijuana for Medical Purposes Regulations and operates a 55,200 square foot expandable state-of-the-art production facility in Alberta, Canada.

ACBFF’s wholly-owned subsidiary, Australis Capital Inc., seeks to be an active participant in the U.S. Cannabis market. Aurora is trading on the Canadian Securities Exchange under the trading symbol “ACB”. The company is headquartered in Vancouver, Canada.

According to company’s materials, “Aurora’s wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada’s Access to Cannabis for Medical Purposes Regulations. The Company operates a 55,200 square foot, state-of-the-art facility in Mountain View County, Alberta, is currently constructing a second 800,000 square foot production facility, known as “Aurora Sky”, at the Edmonton International Airport, and has acquired, and is undertaking completion of a third 40,000 square foot production facility in Pointe-Claire, Quebec, on Montreal’s West Island.

In addition, the Company holds approximately 9.6% of the issued shares (12.9% on a fully-diluted basis) in leading extraction technology company Radient Technologies Inc., based in Edmonton, and is in the process of completing an investment in Edmonton-based Hempco Food and Fiber for an ownership stake of up to 50.1%. Furthermore, Aurora is the cornerstone investor with a 19.9% stake in Cann Group Limited, the first Australian company licensed to conduct research on and cultivate medical cannabis. Aurora also owns Pedanios, a leading wholesale importer, exporter, and distributor of medical cannabis in the European Union, based in Germany.”

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“The Shoppers and Aurora brands are trusted to deliver high-quality products and excellent customer service,” said Terry Booth, CEO. “Partnering with Shoppers Drug Mart, Canada’s largest pharmacy retailer, is yet another validation of the scale and maturity of our company, and of the demand for Aurora’s medical cannabis. Through our wholly owned subsidiary Pedanios, Aurora already supplies a network of more than 2,000 pharmacies in Germany, and this strategic relationship with Shoppers will further expand our market presence and profile as one of the world’s leading medical cannabis brands.”

The chart shows -4% stripped out of shares during the past week in the stock. That said, the situation may be worth watching. ACBFF has a history of dramatic rallies. What’s more, the stock has seen interest climb, with an increase in recent trading volume of 65% over the long run average.

At this time, carrying a capital value in the market of $2.88B, ACBFF has a significant war chest ($350.8M) of cash on the books, which is balanced by virtually no total current liabilities. ACBFF is pulling in trailing 12-month revenues of $31.1M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 201.2%. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $ACBFF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $ACBFF, either long or short, and we have not been compensated for this article.

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