Is the Worst Over for Shares of Aurora Cannabis?

It’s been a bumpy ride for Aurora Cannabis (ACB) shareholders over the past two weeks. After Aurora Cannabis reported earnings the stock plunged and continued to drop substantially as further concerns over profitability and the state of the cannabis sector weighed on investor sentiment.

Just when we thought things couldn’t get any worse, the stock continued to move lower as…

investors agreed to convert 99% of their convertible debentures to shares as of November 25th. Aurora Cannabis announced Monday, November 25th that they received notice from holders of the Company’s CAD$230 million 5% unsecured convertible debentures that investors will agree to convert their debentures at the early amended conversion price of $3.2837. These debentures which are due March 9, 2020, represent $227,019,000 of the principal amount or roughly 99%. This caused the issuance of 69,135,117 Common Shares and sent Aurora Cannabis declining again to start off the week.

So is the worst over for shares of Aurora Cannabis?  Or will the stock continue its move lower?

We believe that is a…

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