Why Aurora Cannabis Was a Hot Stock Today
Shares of Aurora Cannabis (NASDAQ: ACB) wafted nicely higher on the second day of the trading week. The Canadian marijuana company's shares drifted more than 5% skyward on Tuesday, on an analyst's more bullish take on its prospects.
Interestingly, the latest analysis from Stifel is based largely on one habit of marijuana companies considered by many investors to be negative: a secondary share issue. Analyst W. Andrew Carter cited Aurora's latest financing effort, in which it raised gross proceeds of $173 million from a flotation of units consisting of common shares and warrants, as a key reason for his upgrade.
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Source Fool.com
