Though licensed North American cannabis stocks continue to below execute practically a year on from Canadian legalization, firms like Aurora Cannabis Inc. (NYSE: ACB TSX: ACB) are in search of new strategies to regain investor self-assurance.
This week the firm launched the Aurora Insider weblog, which gives frequent updates to shareholders on operations, funding, and analysis.
The most current update from that new shareholder outreach platform incorporated news on Aurora’s ongoing facility building operations. In addition to the company’s flagship websites that are currently up and operating, these areas are now nearing completion:
- Aurora Sun – Medicine Hat, 1.six million sq. ft. Indoor building practically completed
- Nordic Sky – Denmark, 1 million sq. ft. Outside building practically completed
- Aurora Polaris – Edmonton, anticipated to be staffed in early November for edible and vape merchandise
- Whistler Pemberton – British Columbia, 4 rooms operational, 11 additional to be completed by year’s finish
- Anandia Laboratories – Vancouver, laboratory testing and workplace space anticipated to open this year
- Cannabis Innovation Center – Comox, 32,500 sq. ft. Due for completion by December of 2019
Just after announcing the launch of the weblog and referencing the finish of a number of phases of building, Chief Executive Officer Terry Booth commented:
Aurora requires its leadership position in the worldwide cannabis market seriously, and is committed to becoming open and transparent with our stakeholders. The group is operating to advance strategic initiatives in Canada, the United States and abroad aimed at strengthening Aurora’s worldwide position. We are laser-focused on delivering on our small business program and prudently managing investors’ capital.
The cannabis market all round has seasoned an really rocky couple of months, with CannTrust losing its licenses to develop and sell immediately after a Well being Canada critique and most firms across the board continuing to see a sharp drop in stock cost.
Aurora’s stock is presently trading at $four.36 this morning and has noticed a constant decline more than the prior 30 days. That cost is significantly less than half of the higher of $11.68 final year just as the Cannabis Act went into impact, and far down from the late March 2019 cost of $9.94 prior to quarterly economic reports had been released.
Like quite a few significant licensed producers, Aurora is hoping to see elevated numbers as worth-added merchandise such as edibles, vapes, and infused beverages commence to hit shelves later this year following final regulations handed down from Well being Canada.