Today ACB is $7.93 and in the coming weeks...
This is a very difficult stock to place any money on. Long or short.
On one side, it's the most speculative stock on the Canadian stock exchange. This stock goes up on news and hope. That's the power of mergers and acquisitions. Companies can blend the books of new acquisitions and make things look great on paper. High growth and spectacular returns for shareholders.
On the other side, it's a grossly overvalued and hyped stock. Shares Issued: 561,006,914 and that is conservative since I can't even locate the fully diluted number of shares. Market Cap is a whopping $4,448,785,000 The short sellers are all over this stock for a reason. I've seen short attacks on large stocks like Teck Resources but Teck was a strong company with producing assets.
Even if Aurora produces, recreational marijuana isn't legal yet, it's delayed, advertising limits brand differentiation and overproduction will create havoc on pricing. Fundamentaly the business plans are broke before these companies get even started! The shorts are 100% right, the only question remains, is the timing tight?
Something tells me this stock will either climb back to its previous highs or crash into a ball of fire.
Pure Hell