Should You Invest in Aurora Cannabis Stock in 2024?
Aurora Cannabis (NASDAQ: ACB) stock capped off yet another bad year in 2023, with its shares falling by more than 45%. But this isn't new for investors; Aurora has consistently been a bad buy. This marks the sixth consecutive year that Aurora's stock has fallen by at least 30%. It's a painful but important reminder to investors that just because a stock has declined significantly doesn't mean it's due for a recovery -- or can't fall still more.
For Aurora to turn things around for investors, it needs to be a more tenable investment. The good news is that it has been making strides in improving its bottom line. But will it be enough for Aurora to break its awful streak in 2024 and achieve positive returns for investors?
One of the things I like about Aurora Cannabis these days is that the company has been moving away from the consumer cannabis market, which is downright toxic in Canada, the company's home market. There's too much competition, which leads to abysmal gross profit margins for cannabis companies. It's a recipe for disaster, which is why many Canadian pot stocks struggle.
Source Fool.com
