Aurora Cannabis Stock Falls to Key Support Levels

Posted by Justin Kuepper

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Aurora Cannabis Inc. (ACB.XTSE) shares moved more than 3% lower during Monday’s session after Cronos Group Inc. (CRON) sold its stake in Whistler Medical Marijuana Aurora for C$175 million in stock. While management expects that the strategic acquisition will add significant value, investors are concerned about potential dilution from the all-stock deal.

Melius Research analyst Rob Wertheimer started coverage on Aurora Cannabis stock with an Overweight rating and a price target of C$17 per share, calling it his top pick in the cannabis space. While the analyst firm anticipates overcapacity issues in the future, Wertheimer notes that Aurora has taken measures to capture market share while lowering production costs to preserve margins…CLICK for complete article