Is Now the Right Time to Buy Aurora Cannabis Stock?

Aurora Cannabis Inc. (ACB) is a Canadian producer of medical and adult-use cannabis products…

The company was founded in 2013 and has sales and operations in 18 countries. It offers a product portfolio that includes the cannabis brands Aurora, Aurora Drift, San Rafael ’71, Daily Special, AltaVie, MedReleaf, CanniMed, Whistler and Reliva CBD.

The company’s growth over the years was fueled with acquisitions, most dramatically with a 2017 hostile takeover bid for CanniMed Therapeutics, the first action of its kind in the Canadian cannabis industry – after the intervention of the Ontario Securities Commission, the companies agreed on a friendly acquisition transaction in 2018.

The company has recently endured more than its fair share of problems, most dramatically in late 2019 with a threatened NYSE delisting when its stock value plummeted – a 1-for-12 reverse stock split in May helped keep it on the board. In February, founder Terry Booth stepped down as CEO as the company laid off 500 members of its workforce. During the summer, a rumor was floated that rival Canadian cannabis company Aphria Inc. (APHA) was considering a possible acquisition – instead, APHA announced a merger earlier this week with Tilray Inc. (TLRY).

In September, ACB announced the appointment of Miguel Martin as its new chief executive officer. Martin, who joined the company in June as chief commercial officer, was previously the chief executive at Reliva CBD, the Massachusetts-based company acquired by ACB in May.

Here’s how our proprietary POWR Ratings system evaluates ACB…

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