Why Aurora Cannabis (ACB) Stock Is Trading Lower
Portfolio Pulse from Henry Khederian
Aurora Cannabis Inc (NASDAQ:ACB) shares are trading lower by 10.5% to $0.55, in sympathy with peer cannabis stock Canopy Growth Corporation after the company reported worse-than-expected Q4 financial results. Canopy Growth's losses were 24 cents per share, missing the analyst consensus estimate of a loss of 15 cents. Quarterly sales were $72.61 million, slightly below the analyst consensus estimate of $73.19 million.
June 23, 2023 | 7:09 pm
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Aurora Cannabis shares are trading lower by 10.5% due to worse-than-expected Q4 financial results from peer cannabis stock Canopy Growth Corporation.
Aurora Cannabis shares are trading lower in sympathy with Canopy Growth's worse-than-expected Q4 financial results. As a peer cannabis stock, ACB's stock price is likely to be impacted by the negative sentiment surrounding the cannabis industry due to Canopy Growth's poor performance.
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