Is This 1 Mistake the Reason for Aurora Cannabis' Struggles Today?

Things used to look a lot better for cannabis producer Aurora Cannabis (NYSE: ACB), which was once among the industry's leaders, a key rival to Canopy Growth (NYSE: CGC). But a lot's changed even in the past year -- Aurora's stock is down by about 90% over the past 12 months. That's much worse than the Horizons Marijuana Life Sciences ETF (OTC: HMLSF), which has fallen approximately 78% during that time. And with the free fall looking to continue, there's little reason to be optimistic about stock today, especially after last month, when management forecast "modest-to-no growth" for its next quarter.

Investors are likely wondering where it all went wrong. There's one area in which the company may have failed its investors the most: not finding a partner from another industry.

When Aurora brought billionaire investor Nelson Peltz onto its team a year ago, shareholders were expecting some deals to take place. Even just one large partnership may have sufficed. However, nothing notable has occurred since his appointment as the company's strategic advisor.

Source Fool.com