Aurora Cannabis Inc logo

ACB - Aurora Cannabis Inc News Story

$14.08 -1.3  -8.2%

Last Trade - 29/05/20

Sector
Healthcare
Size
Mid Cap
Market Cap £1.24bn
Enterprise Value £1.44bn
Revenue £179.9m
Position in Universe 1920th / 6364

BUZZ-Pot sales spike as consumers hoard in preparation for potential dispensary closures - analyst

Mon 23rd March, 2020 4:09pm
** Brokerage Morningstar says while COVID-19 pandemic has
dragged down cannabis stocks and rattled the broader equity
markets, it sees the overall impact on weed firms as much more
nuanced, and should have little impact on their long-term
potential
    ** Says cannabis sales have reportedly spiked due to
hoarding behavior similar to that of basic necessities
    ** Notes that quarantines have forced people to stay home,
which has encouraged both higher cannabis consumption and
stocking efforts in preparation for potential dispensary
closures
    ** It appears customers are buying larger quantities of
recreational cannabis in fear that adult-use dispensaries will
temporarily close, just as many restaurants and bars have,
across the U.S. and Canada -  Morningstar
    ** Says this increase could offset any potential slowdown,
depending how long the recreational dispensaries temporarily
close
    ** As such, brokerage makes no changes to its forecasts;
however reiterates extreme uncertainty ratings for Tilray
 TLRY.O  and Aurora Cannabis  ACB.TO 
    ** Separately, Roth Capital Partners says TLRY's
international initiatives will help drive long-term growth and
can differentiate the company, but it will take more time to
materialize as COVID-19 may slow down legalization schedules

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com; +1 646 223 8780 Ext:
2776; Reuters Messaging:
arundhati.sarkar.thomsonreuters.com@reuters.net))
© Stockopedia 2020, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.