Why Aurora Cannabis Rallied Almost 200% In 3 Days — And What’s Next For The Pot Stock

Posted by Shanthi Rexaline

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Ahead of the quarterly results released May 14, Aurora Cannabis stock was down about 74% year-to-date, ravaged by the broader market weakness orchestrated by the onset of the COVID-19 pandemic and its subsequent impact on the global economy.

After adding about 15% ahead of the earnings release, the stock jumped 69% May 15 to $11.20. The Canadian cannabis company reported net revenue growth of 18% for the fiscal year 2020 third quarter. The adjusted EBITDA loss narrowed from CA$80.3 million ($57.8 million) to CA$45.9 million ($33 million)…CLICK for complete article