Why Aurora Cannabis Stock Is Bouncing Back Today

Shares of Aurora Cannabis (NYSE: ACB) were up 3.4% as of 11:26 a.m. EDT on Tuesday after rising as much as 12.6% earlier in the day. The Canadian cannabis producer didn't have any news of its own. Instead, today's move is part of an overall rebound for the stock market after Monday's massive sell-off.

Aurora's bounce isn't surprising. The market meltdown Monday dragged down most marijuana stocks. But these stocks aren't affected all that much by the underlying reasons behind that meltdown, namely the coronavirus outbreak and plunging oil prices. It makes perfect sense that investors would realize the panic was overdone.

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Source Fool.com