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Monday, November 30, 2020

The Current Psychology of the Tape in Aurora Cannabis Inc (OTCMKTS:ACBFF)

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While we continue to see big things ahead (very big) for Aurora Cannabis Inc (OTCMKTS:ACBFF), we have also been assuming some kind of correction in the form of a sell-the-news reaction to the actual announcement of adult-use legalization in Canada. This has been one of the most widely discounted announcements in market history. Billions of dollars have been added to market caps in the cannabis patch, many to stocks that don’t have big new catalysts on the way or hitting the wires this week.

So, we aren’t surprised to see some tape hiccups this week, even in Aurora. But, speaking of coming catalysts, we recently pointed out the likelihood that this stock will be trading on the NYSE before long. And speaking of new catalysts just out this week, the company just announced it has received the necessary compliance verification from Health Canada to release for sale its innovative, high-potency, vape-ready CBD oil product line.

Aurora Cannabis Inc (OTCMKTS:ACBFF), through Aurora Cannabis Enterprises Inc, trumpets itself as “one of the world’s largest and leading cannabis companies” and a licensed producer of medical cannabis pursuant to Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR).

The Company operates a 55,200 square foot, state-of-the-art production facility in Mountain View County, Alberta, known as Aurora Mountain, 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 to the Company’s rapid organic growth and strong execution on strategic M&A, which to date includes 15 companies – MedReleaf, CanvasRX, Peloton Pharmaceutical,  Aurora Deutschland (formerly Pedanios), H2 Biopharma, Urban Cultivator, BC Northern Lights, Larssen Greenhouses, CanniMed Therapeutics, Anandia Labs, HotHouse Consulting, Agropro, Borela, and the pending acquisition of ICC Labs – Aurora is distinguished by its reputation as a partner of choice and employer of choice in the global cannabis sector.

The company has invested in and established strategic partnerships with a range of leading innovators, including: The Green Organic Dutchman Holdings Ltd. (TSX: TGOD), Radient Technologies Inc. (TSXV: RTI), Hempco Food and Fiber Inc. (TSXV: HEMP), Cann Group Ltd. (ASX: CAN), Micron Waste Technologies Inc. (CSE: MWM), Choom Holdings Inc. (CSE: CHOO), Namaste Technologies Inc. (TSXV: N), Evio Beauty Group (private), Wagner Dimas (private), CTT Pharmaceuticals (OTCC: CTTH), and Alcanna Inc. (TSX: CLIQ).

According to company materials, “Headquartered in Edmonton, Alberta, Canada with funded capacity in excess of 500,000 kg per year and sales and operations in 18 countries across five continents, Aurora is one of the world’s largest and leading cannabis companies. Aurora is vertically integrated and horizontally diversified across every key segment of the value chain, from facility engineering and design to cannabis breeding and genetics research, cannabis and hemp production, derivatives, high value-add product development, home cultivation, wholesale and retail distribution.”

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As noted above, ACBFF just announced it has received the necessary compliance verification from Health Canada to release for sale its innovative, high-potency, vape-ready CBD oil product line.

According to the release, “Launched today under the brand Aurora Cloud, the first products released contain over 550mg of CBD and less than 30mg of THC, making them the only vape-ready CBD products legally available in Canada. This is the first of a broader line of full-spectrum cannabinoid-based, vape ready cartridge products the Company intends to launch in the future.”

In all, recent action has seen 24% tacked on to share pricing for the company in the past month, even with the sell-the-news dip.

“Being the first LP to launch a vape-ready CBD-rich product for the rapidly growing medical and wellness markets reflects our continued leadership in developing and rapidly commercializing product innovations, providing us with an important competitive advantage,” said Terry Booth, CEO. “We identified a significant unmet market need, and our technical and regulatory teams rapidly executed on this opportunity. We are very proud of this accomplishment by our teams, and will continue to leverage our leadership in executing on our strategy to develop a robust portfolio of high value-add, higher-margin products for all markets and jurisdictions that we participate in.”

Earning a current market cap value of $10.02B, ACBFF has a significant war chest ($149.4M) of cash on the books, which stands against about $75.2M in total current liabilities. ACBFF is pulling in trailing 12-month revenues of $55.2M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 222.6%. We will update the story again as soon as further details emerge. 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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