Worlds Largest POT Stocks $$$$ Just the thought of how huge ACB is and when the yearly revenues start roling in .......any thoughts on 2019 revenues just for fun??? World wide sales ? millions to billions?
Aurora Cannabis Inc. (TSX:ACB) made a huge splash with its $3.2 billion acquisition of MedReleaf Corp. The move came soon after what was perceived by many as an overreach for CanniMed Therapeutics in early 2018. Leadership was evasive when questioned about the internal metrics it used to justify the deal for MedReleaf. Nevertheless, with this deal, Aurora has cemented itself as the largest cannabis producer in the world. But is it a better bet than Canopy?
Aurora stock has dropped 15.2% in 2018 as of close on May 29. Shares are up 6.4% over the past month. On May 28, Aurora signed a collaboration agreement with Heinrich Klenk GmbH & Co. KG, one of the largest medicinal plant companies in Europe. Aurora has launched a cannabis brand in Germany called “Cannabis Klenk.” Klenk carries products in over 25,000 pharmacies across Germany. Aurora said that its previous acquisitions were done to power expansion overseas, and this deal demonstrates that leadership is intent on making good on that promise
Canopy and Aurora remain the heavyweights in this sector, but the pricing of the former is concerning as we head into summer. Volatility is rearing its head on the TSX in the midst of a global sell-off, and in late January and early February, cannabis stocks were hit especially hard by the previous rout. Even after its pricey takeovers, I like Aurora for the long-term buy today.