Why Aurora Cannabis Stock Dropped on Friday
Shares of Aurora Cannabis (NYSE: ACB) sank 6.6% on Friday after analysts at Jefferies downgraded the popular marijuana stock.
Jefferies lowered its rating on Aurora's stock from hold to underperform. The investment bank says the recent surge in Aurora's share price is too much, too fast.
"We think near-term sales and [gross margin] headwinds are not fully appreciated, while celebrating a hiatus on further dilution is shortsighted," Jefferies analyst Owen Bennett said.
Source Fool.com
