Wow bad News folks
Aurora Cannabis (TSX: ACB) (NYSE: ACB)has had a rough week, and for investors, the week just cant seem to end. Following an analyst calling for a zero price target and labeling the equity as worthless earlier this week, it appears that a certain insider doesnt tend to disagree. An after hours Sedi filing has revealed that a director disposed of over half of his holdings this week in the troubled firm. The week was off to a rough start for Aurora, following analyst Gordon Johnson of GLJ Research initiating coverage on the firm, giving it a rating of sell on Monday. As if this was not enough on its own, Johnson then gave the equity a price target that is rare among analysts a whopping $0.00. Commenting on the target, Johnson stated, Our view that ACBs equity holds no value is driven by our work, which implies the company is facing a liquidity crunch that will, ultimately, risk its status as a going concern. The analyst expects major liquidity concerns for the equity by June 2020. Aurora Cannabis struggled throughout the week following the issuance of the research, with the equity falling from a Monday morning high of $3.53 to close the week 16.4% lower at $2.95 Friday. As if this wasnt enough for shareholders, a Friday evening Sedi filing has revealed that director Jason Dyck has sold 57.7% of his total position in the company. Dyck sold 1,082,500 common shares of Aurora, at an average price of $3.10 per share on the day following the release of the research report. In total, Dyck walked away with $3.35 million as a result of selling his shares, with only 791,402 shares remaining in his holdings as per filings. Aurora Cannabis last traded at $2.95 on the Toronto Stock Exchange. Information for this briefing was found via Sedar, Sedi and Aurora Cannabis. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses. Jay As the founder ofThe Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dives stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published onStockhouse.comandCannaInvestor Magazineamong others. Aleafia Health Sees Shipment Stolen In TransitDrug Trade: The Three Basic Cannabis Health Company Archetypes Jay As the founder ofThe Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive's stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published onStockhouse.comandCannaInvestor Magazineamong others. You May Also Like Aurora Guides to 54% Increase in Revenues Quarter Over Quarter August 6, 20190 Origin House Expects to Nearly Double First Quarter Revenues July 18, 20190 QYOU Media Partners With Largest Ad Network in India June 27, 20190 Briefings BriefingCannabis Battley Leaves Executive Role at Aurora Cannabis December 21, 2019 Jay0 Aurora Cannabis (TSX: ACB) (NYSE: ACB) has seen its chief corporate officer Cam Battley step down from his role effective Drug Trade: The Three Basic Cannabis Health Company Archetypes December 21, 2019 0 Aurora Cannabis Caps Rocky Week With Insider Selling 57% of Position December 20, 2019 0 Aleafia Health Sees Shipment Stolen In Transit December 20, 2019 0 Market Movers: Kneat.com December 20, 2019 0 iAnthus Secures US$36 Million Financing From Gotham Green December 20, 2019 0 James Wagner Closes $1.0 Million Tranche of Private Placement December 20, 2019 0 News BriefingNewsTechnology Premier Health Signs Definitive Agreement to Acquire Livecare Health December 19, 2019 Jay0 Premier Health Group Inc (CSE: PHGI) announced this morning that it has entered into a definitive agreement to acquire all Tinley Sees Significant Distribution Expansion Into Two National Retailers December 2, 2019 0 Premier Health Sees Quarterly Revenue Growth of 103% December 1, 2019 0 Tinley Beverage Flagship Facility Nears Licensing, Eyes Potential Capacity Expansion November 27, 2019 0 About Welcometo The Deep Dive, where we focus on providing investors of Canadian junior stock markets the knowledge they need to make smart investment decisions. We take a closer look at all data relating to organizations listed on the CSE and the TSX Venture to create quality stock analysis for investors.