Is Aurora Cannabis Now a Screaming Bargain?
Murphy's Law appears to have hit Canadian marijuana stocks in a major way in recent months. Nearly everything that could go wrong has gone wrong.
Canada's heaviest populated province, Ontario, has only 24 retail cannabis stores open more than a year after the country's adult-use recreational marijuana market launched. Most cannabis companies continue to hemorrhage cash. Revenue is growing more slowly than anticipated if it's growing at all.
These and other issues have caused a collapse in the valuations of many Canadian marijuana stocks. Aurora Cannabis (NYSE: ACB), one of the top two biggest cannabis producers, has lost close to half of its market cap so far this year. My colleague George Budwell even speculated recently that Aurora might fall to $1 per share. But could Aurora Cannabis actually be a screaming bargain at current levels?
Source Fool.com
