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Thursday, December 3, 2020

Aurora Cannabis Inc (OTCMKTS:ACBFF) Shares Continue Run Higher as Company Gets Behind Amnesty

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We have been suggesting continued strength for shares of Aurora Cannabis Inc (OTCMKTS:ACBFF) since it retook key support at the $5/share level a couple weeks ago. Since that time, the stock has blitzed up to retake both its major moving averages, and now sits poised to potentially test resistance above around $8/share.

The company is also moving to support its cause, starting this week by reaffirming its commitment to advocating for the amnesty of cannabis possession offenses through a $50,000 contribution to the Campaign for Cannabis Amnesty. According to the release, “The organization will use the funds to advocate for the expungement of criminal records for personal possession cannabis offenses that will no longer be illegal after October 17, 2018, and to educate Canadians about the injustices that currently exist as a result of the prohibition of cannabis.”

Aurora Cannabis Inc (OTCMKTS:ACBFF) bills itself as 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 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 a 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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As noted above, ACBFF shares have been soaring, up 37% in the past month on a 210% jump in average volume. That is partly due to strength in the space, partly due to the company’s production footprint, and partly due to its brand as a cannabis stock in a leadership position.

This last point is impacting by many factors, not least of which is its willingness as a corporation to address the key causes that surround its narrative.

“Aurora strongly believes that the negative socio-economic impact of maintaining criminal records for simple possession needs to be addressed urgently,” said Jonathan Zaid, Aurora’s Director of Advocacy and Corporate Social Responsibility. “We look to the Canadian government to provide amnesty to these people, largely from marginalized communities, ensuring their broad exclusion from Canadian society is lifted. The work of the Campaign for Cannabis Amnesty is making a very positive contribution towards this much-needed policy change. Even through there is still a lot of work to be done to encourage justice reform in this area, Aurora is proud to support organizations like Campaign for Cannabis Amnesty that are leading the way forward.”

Currently trading at a market capitalization of $3.7B, ACBFF has a significant war chest ($231M) of cash on the books, which must be weighed relative to about $2.6M in total current liabilities. One should also note that debt has been growing over recent quarters. ACBFF is pulling in trailing 12-month revenues of $42M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 211.1%. You can bet we will update this one again as new information comes into view. 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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