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Thomson ReutersA worker collects cuttings from a marijuana plant at the Canopy Growth Corporation facility in Smiths FallsAurora Cannabis is down Monday, down more than 10%, a day before its commercial debut on the New York Stock Exchange.
The Canadian supplier, who grows cannabis for the adult drug and drug market, has seen its market capitalization surge by more than 150% since August – to nearly $ 10 billion – while corporate giants and investors "in marijuana.
On August 15, beverage maker Constellation Brands announced that it was investing $ 4 billion in Canopy Growth, its rival Aurora, sparking a wave of interest in the sector.
A month later, Bloomberg announced that Aurora had had talks with Coca-Cola about the development of CBD-infused drinks. one of the non-psychoactive compounds found in cannabis. No agreement has been announced.
"Aurora has expressed a special interest in the infused beverage space and we intend to enter this market," said Aurora spokesperson at Business Insider at # 39; era.
"There is so much going on in this area right now and we think it has incredible potential, so we do not usually discuss commercial development initiatives until they are finalized; however, we have a responsibility to our shareholders to take into account all relevant opportunities that are presented. "
And last week, Canada became the second-largest country in the world to legalize marijuana, but that did not have the expected impact of investors. Cannabis stocks were criticized as traders sold the news.
But investors remain optimistic that the legalization of Canada marks the dawn of a new era for investors.
"We believe that legalization in Canada provides a road map for investing in the companies that will form the basis of the legal cannabis industry in the years to come," said Jon Trauben, managing partner at Altitude Investment Management, a business focused on cannabis.
Aurora Cannabis will be listed under the symbol "ACB" from Tuesday.
Jeremy Berke contributed to this report.
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