Don't Believe Aurora Cannabis' Profitability Spin
Aurora Cannabis (NYSE: ACB) finally made the move that investors have anxiously awaited for a long time. The Canadian cannabis producer announced last week that it entered into an agreement to buy Reliva, which boasts one of the top-selling CBD brands in the U.S. market.
Investors cheered the news that Aurora will soon be able to jump into the big U.S. CBD market. Several of the company's top rivals, including Canopy Growth and Cronos Group, already have a presence in the U.S.
Aurora stated that Reliva is "profitable today" and will provide the company with a top hemp CBD brand that's currently sold in more than 20,000 retail locations in the U.S. The last part of that statement is true. But don't believe Aurora Cannabis' profitability spin.
Source Fool.com
