3 Potential Catalysts That Could Cause Aurora Cannabis Stock to Skyrocket

Aurora Cannabis’ (NYSE:ACB) sizzle seems to have fizzled. The Canadian marijuana stock more than doubled by the middle of March. Since then, though, Aurora has given up roughly half of its big gain.

But don’t think for a second that Aurora can’t turn up the heat yet again. The company continues to pick up momentum in the Canadian adult-use recreational pot market and in international medical cannabis markets.

It’s also possible that Aurora could surpass its peak share price from a few months ago if the right scenarios unfold. Here are three potential catalysts that could cause Aurora Cannabis stock to skyrocket…

1. Landing a big partner

Several of the top Canadian marijuana producers have landed big partners from outside the cannabis industry. Canopy Growth (NYSE:CGC) teamed up with large alcoholic-beverage maker Constellation Brands (NYSE:STZ)Cronos Group (NASDAQ:CRON) secured a significant investment from tobacco giant Altria (NYSE:MO)Tilray (NASDAQ:TLRY) partnered with big beer maker Anheuser-Busch InBev (NYSE:BUD) and drugmaker Novartis (NYSE:NVS)HEXO(NYSEMKT:HEXO) (TSX:HEXO) joined forces with another top beer company, Molson Coors(NYSE:TAP).

But Aurora has been left out in the cold so far when it comes to big partnerships. That could change in the near future, though. In March, Aurora brought billionaire investor Nelson Peltz on board to help line up partners. Peltz has especially strong connections in the consumer packaged goods industry.

There’s one catch: Aurora isn’t looking to receive a big equity investment along the lines of the deals made by Canopy Growth and Cronos. If the company changed its tune and found a large partner willing to make a big investment, there’s no doubt that its stock would vault much higher. Even if Aurora doesn’t get a lot of cash with a partnership, though, teaming up with one or more high-profile companies from outside the cannabis industry should light a fire beneath the stock.

2. A major move into the U.S. hemp CBD market

Aurora also lags behind some of its peers in making a major move into the U.S. hemp cannabidiol (CBD) market. Canopy Growth is building a large-scale hemp production facility in New York state. Tilray acquired top hemp food company Manitoba Harvest, whose products are sold at thousands of U.S. retail locations. HEXO hasn’t entered the U.S. hemp market yet, but CEO Sebastien St-Louis recently stated that the company will do so in 2020.

In January, Aurora Chief Corporate Officer Cam Battley told Business Insider that the company “will…

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