Is Aurora Cannabis a Hold?
New leadership at a company can often get investors excited about a stock, but that wasn't the case on Tuesday with Aurora Cannabis (NYSE: ACB) analyst Glenn Matson, who tracks the marijuana company for Ladenburg Thalmann. Matson downgraded his recommendation on Aurora, shifting it to neutral from his previous buy.
The downgrade follows the company's news that it has tapped former Chief Commercial Officer Miguel Martin to be its permanent CEO, replacing interim chief Michael Singer. On the same day, Aurora provided several business updates. Among these were fourth-quarter revenue and gross-margin forecasts.
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Source Fool.com
