Why Aurora Cannabis Stock Is Slumping Today
Canadian marijuana company Aurora Cannabis (NASDAQ: ACB) is having another bad day. The pot seller's shares were down by a noteworthy 4.34% on moderate volume as of 2:05 p.m. ET on Monday.
Since the start of the year, Aurora's stock has now shed 27.5% of its value, and the share price has fallen well below the Nasdaq's $1 bid requirement, triggering a noncompliance notice from the exchange last month.
What's behind this latest dip? Aurora's stock appears to be responding negatively to the news that OPEC nations plan on reducing oil output by approximately 1.2 million barrels per day in May. In response to this news, the benchmark Brent crude spiked to almost $85 a barrel.
Source Fool.com
