[ad_1]
In just a few short months, Aurora Cannabis has become one of the most sought-after values among speculators hoping to enter the nascent cannabis industry early. Now, the Canadian company plans to register its shares in the United States next month.
Aurora's shares are currently listed on the Toronto Stock Exchange. In the United States, Aurora shares are also traded in the over-the-counter market, which is generally non-cash. Aurora shares in the US OTC market, traded under the symbol ACBFF, have increased by more than 1,200% since mid-July.
Aurora gained popularity this week after reports were released that Coca-Cola was talking with Aurora to produce cannibal-infused drinks. Investors rushed to buy the company's shares, despite denials from Aurora and Coca-Cola that such a partnership was in preparation. This caused problems for trading platforms like Robinhood, which suspended Aurora's OTora stock purchases because they could not meet the demand.
Aurora CEO Cam Battley told the Financial position in the United States that he goes to October for a second registration, the latter on a US exchange. In the United States, two other Canadian cannabis companies are listed: Tilray trades on the Nasdaq, and the Canopy Group trades on the New York Stock Exchange. Tilray shares are up 670% since August 1, while those of Canopy are up 103%.
To date, the company has not filed documents with the SEC to list its shares in the US, which could make October a tight schedule. Aurora has not responded to a request for comment from Fortune.
Battley told the To post a listing in the United States widens the access of its shares to institutional investors who are not permitted to trade in OTC shares. This would also give more capital to the company as a result of a buying frenzy. Aurora has acquired 11 companies in the past two years, including Vancouver-based ICC Labs, which has a 70% market share in Uruguay, the first country to legalize the pot.
Other Aurora acquisitions include MedReleaf, CanvasRx, Peloton Pharmaceutical, Pedanios, H2 Biopharma, Urban Cultivator, BC Northern Lights, Larssen Greenhouses, CanniMed Therapeutics and Anandia. The company claims to have an increasing annual capacity of 570,000 kilograms of cannabis and has sales and operations in 14 countries.
Source link
