Better Cannabis Stock: Aurora Cannabis or Canopy Growth?
In the face of financial and funding hurdles as well as state and federal discrepancies in the law, U.S. cannabis companies have done exceptionally well this year, driven by a surge in cannabis demand amid the pandemic. But two big-time Canadian pot stocks, Aurora Cannabis (NYSE: ACB) and Canopy Growth (NYSE: CGC), remain investor favorites. Both companies had a tough 2019, owing mostly to external headwinds that gripped the sector. They they have clearly managed to rebound, in some business areas, in 2020. On Nov. 9., Aurora released its first-quarter fiscal 2021 results and Canopy reported second-quarter fiscal 2021 numbers.
Aurora's stock is down 36% since then, while Canopy is down 0.73%. (For perspective, the industry benchmark, the Horizons Marijuana Life Sciences ETF gained 1.45% since Nov. 9.) So far this year, shares of Canopy have gained 15%, while Aurora's stock has slumped 72%. Meanwhile, the industry benchmark is down 12% over the same period. But their share performances might not tell the whole story. Let's take a look at the companies' quarterly reports and determine which of the two is the better cannabis pick.
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Source Fool.com
