Why Aurora Cannabis' Latest Good News Doesn't Outweigh Its Bad News
Aurora Cannabis (NYSE: ACB) is on a roll. Granted, it's a very short roll. Still, Aurora's shares are up more than 10% since the company announced good news last Friday. What was this good news that got investors fired up? Aurora stated that its net revenue for the three months ending Sept. 30, 2020, is expected to be at the high end of its previously announced guidance range.
The cannabis producer won't announce its fiscal 2021 first-quarter results until Nov. 9, but investors now know to expect net revenue of close to 64 million in Canadian dollars. This revenue will consist almost entirely of cannabis sales after Aurora's divestiture of its non-cannabis subsidiaries in fiscal 2020.
Is this a sign that marijuana stock could be about to make a big comeback? Not necessarily. The reality is that Aurora's latest good news doesn't outweigh its bad news.
Source Fool.com
