Why Shares of Aurora Cannabis Slumped 14.6% This Week

Shares of Aurora Cannabis (NASDAQ: ACB) fell 14.6% this week as of Thursday, according to data from S&P Global Market Intelligence. The Canadian marijuana company closed at $4.46 a share on Friday of last week, opened at $4.37 on Monday, and dropped to as low as $3.79, its 52-week low, by Thursday afternoon. The stock is down more than 63% over the past year and has a 52-week high of $18.98.

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Aurora had plenty of company with its moribund week. The NASDAQ is down 4.4% for the week, and marijuana stocks are also down significantly, with the Advisor Shares Pure Cannabis ETF falling 10.34% over the past five days. This follows a trend that has been taking place since early last year.

Source Fool.com