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Photographer: Jason Franson / Bloomberg
Aurora Cannabis announced today its application for listing on the New York Stock Exchange. If approved, the company expects to trade on the NYSE by the end of the month.
The company is already listed on the Toronto Stock Exchange under the symbol ACB. The listing on the NYSE will have the same ticker symbol and the company will continue trading on the TSX. The company will also continue trading in the OTC market until listing on the New York Stock Exchange is complete, after which it will exit the OTC market.
An listing on the New York Stock Exchange would open the door to more institutional businesses to buy shares of the company. "Through our listing on the New York Stock Exchange, Aurora joins a well-established group of mature global brands offering improved access to an engaged international institutional audience," said Terry Booth, CEO of Aurora. .
Aurora, with a market capitalization of $ 10.08 billion, is one of the largest cannabis companies in Canada, alongside Canopy Growth (market capitalization: $ 11.60 billion) and Tilray (13, $ 4 billion).
The timing could not have been better for Aurora. Canada is on the verge of legalizing recreational marijuana use next week, and the market's willingness to source cannabis stocks such as Tilray and Cronos Group has almost reached the level of bitcoin mania in Canada. 39, last year. Tilray's market capitalization climbed to more than $ 13 billion after a frenzy of buying activity last month.
Recently, there has been a lot of good news in the world of cannabis and a vertiginous number of agreements are underway. Earlier this year,
Constellation Brands
Coca Cola
The last quarter of Aurora has experienced phenomenal growth compared to the previous year. It recently made its own major acquisition, buying MedReleaf for a record $ 2.5 billion in June to help the company meet demand.
The cannabis sector remains hot and favorable winds continue to make progress. While the future is bright, smart investors need to do their homework and understand the risks of such an unstable industry.
Disclosure: The author holds shares in CRON.
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Photographer: Jason Franson / Bloomberg
Aurora Cannabis announced today its application for listing on the New York Stock Exchange. If approved, the company expects to trade on the NYSE by the end of the month.
The company is already listed on the Toronto Stock Exchange under the symbol ACB. The listing on the NYSE will have the same ticker symbol and the company will continue trading on the TSX. The company will also continue trading in the OTC market until listing on the New York Stock Exchange is complete, after which it will exit the OTC market.
An listing on the New York Stock Exchange would open the door to more institutional businesses to buy shares of the company. "Through our listing on the New York Stock Exchange, Aurora joins a well-established group of mature global brands offering improved access to an engaged international institutional audience," said Terry Booth, CEO of Aurora. .
Aurora, with a market capitalization of $ 10.08 billion, is one of the largest cannabis companies in Canada, alongside Canopy Growth (market capitalization: $ 11.60 billion) and Tilray (13, $ 4 billion).
The timing could not have been better for Aurora. Canada is on the verge of legalizing recreational marijuana use next week, and the market's willingness to source cannabis stocks such as Tilray and Cronos Group has almost reached the level of bitcoin mania in Canada. 39, last year. Tilray's market capitalization climbed to more than $ 13 billion after a frenzy of buying activity last month.
Recently, there has been a lot of good news in the world of cannabis and a vertiginous number of agreements are underway. Earlier this year,
Constellation Brands
Coca Cola
The last quarter of Aurora has experienced phenomenal growth compared to the previous year. It recently made its own major acquisition, buying MedReleaf for a record $ 2.5 billion in June to help the company meet demand.
The cannabis sector remains hot and favorable winds continue to make progress. While the future is bright, smart investors need to do their homework and understand the risks of such an unstable industry.
Disclosure: The author holds shares in CRON.
