Investors should brace for the steady decline in cannabis stocks to continue in the near term. So long as stock markets decline, fueled by trade tensions between the U.S. and China, markets will have little appetite for risk. Those include companies that are spending to expand but are not yet profitable yet. The FDA’s public hearing on Friday about CBD safety is unnerving investors, too. With that in mind, cannabis play Aurora Cannabis (NASDAQ:ACB) stock is especially vulnerable for a further drop.
ACB Stock: Dip in Shares of Aurora Cannabis Created a Buying Opportunity
The company reported a big loss in its fiscal third quarter despite revenue tripling over last year’s levels.
Aurora reported revenue of $48.4 million in the third quarter, up 289% from last year. It lost 8 cents a share even though the cost to produce fell