Just to give you a sense, the report from this analyst is titled “The headlines were bad, the details were worse.'
Aurora Cannabis Inc. shares tumbled Monday after Stifel Nicolaus analyst Andrew Carter told clients it was time to sell, noting that though the headlines of the Canada-based cannabis company’s latest quarterly report were bad, the details of the results were even worse.
Aurora reported last week a wider-than-expected fiscal fourth-quarter loss and revenue that missed lowered expectations, sending the stock tumbling over 9% last Thursday. See Cannabis Watch.Stifel’s Carter helped weigh on the stock immediately after the results by saying he believed the stock would remain under pressure given expectations that it would need to access the capital markets for a “significant ask” to fund its aggressive growth plans.
He said he believes the company will remain challenged until it can attract an investment from a consumer partner. Carter said Aurora will likely have trouble competing with rivals Canopy Growth and Cronos in the global cannabis market until it can tout a partnership with a well-established and vested consumer partner. While those partnerships helped provide significant capital “de-risking” for Canopy Growth and Cronos, the risk has increased for Aurora given the recent volatility in the equity markets and uncertainty over Aurora’s willingness and ability to attract a partner.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Aurora Cannabis' stock falls after Stifel says 'sell,' slashes price targetShares of Aurora Cannabis Inc. dropped 5.9% in premarket trading Monday, after Stifel Nicolaus analyst Andrew Carter recommended selling the Canada-based...
Read more »
Aurora Cannabis' stock falls after Stifel says 'sell,' slashes price targetShares of Aurora Cannabis Inc. dropped 5.9% in premarket trading Monday, after Stifel Nicolaus analyst Andrew Carter recommended selling the Canada-based...
Read more »
Yes, Your 8-Year-Old Should Know How to Do LaundryOne parenting expert says it's time we bring chores back into kids' everyday lives.
Read more »
With No Vehicles Being Made, UAW Strike Could Cost GM $100 Million a DayWith no vehicles being built, the walkout involving roughly 46,000 full-time workers could dent GM’s profit by $50 million to $100 million daily, analysts say.
Read more »
FDA Vaping Ban Could Blow A Hole In Tobacco and Cannabis StocksThe FDA vaping ban could blow a hole in tobacco and cannabis stocks by skleb1234
Read more »
These are the 6 most popular houseplants for fallTime to stock up 🎍- these are the 6 most popular house plants for the fall, via reviewed
Read more »