Why Aurora Cannabis Stock Spiked Today
Aurora Cannabis' (NASDAQ: ACB) stock had ratcheted upward by more than 8.1% on Friday at 10:11 a.m. ET after a Cantor Fitzgerald analyst, Pablo Zuanic, adjusted his outlook on the company from neutral to overweight, citing its favorable positioning within the rapidly growing European cannabis market.
The upgrade is a welcome reprieve for shareholders, as analysts have overwhelmingly rated Aurora as a hold rather than a buy this year, with a few recommending to sell.
The analyst's new outlook is surprising, considering that over the last year, Aurora's quarterly revenue has fallen by more than 10.8%, its total quarterly expenses have risen by above 13.1%, and its quarterly revenue as a proportion of expenses has risen sharply.
Source Fool.com
