Why September Could Be a Big Month for Aurora Cannabis
At nearly the halfway mark of September, Aurora Cannabis (NASDAQ: ACB) has been one of the hottest stocks to own this month. It finished August at just $0.48, and on Monday, it closed at $0.91, nearly doubling in less than two weeks.
Aurora and other pot stocks have been rallying on talks of marijuana reform in the U.S., including potentially rescheduling cannabis down from a Schedule I substance to Schedule III. Aurora has been a risky investment in the past, but the company has been making strides at improving its financials, and there is the potential that the stock may rise even further in value in the weeks ahead.
Aurora has been making an effort to reduce its costs in the hopes of reaching profitability and improving its cash flow. This month, it announced that it had recently repurchased $9 million in convertible senior notes, which will reduce its interest expenses.
Source Fool.com
