Top Cannabis Stocks Under $5
Investors are bullish on marijuana stocks again, and now could be the time to buy some cheap pot stocks before they take off. With the Horizons Marijuana Life Sciences ETF down more than 70% over the past year, many pot stocks are trading at their lowest levels ever. And although some have been rallying in recent days, there are still some top cannabis stocks that are trading below $5 that investors may want to add to their portfolios today.
Aurora Cannabis (NYSE: ACB) finally cracked the $1 market again on Friday, when the stock popped by double digits. The stock's disappointed investors in the past with underwhelming earnings reports, and news that it was laying off 500 positions only exacerbated investor concerns about the company's future. Aurora's facing no shortage of challenges these days, and one of the most serious is its lack of cash flow. Investment banking company Ello Capital believes that Aurora may only have a couple of months' worth of cash flow to work with, and that was in February.
But Aurora still remains a top cannabis company in the industry. It generated 56 million Canadian dollars in net revenue in the second-quarter results it released in February. Through the first two quarters of 2018 and 2019, it brought in CA$131 million in sales. And in its 2019 fiscal year, Aurora's top line of CA$248 million was nearly quadruple its prior-year tally of CA$55 million.
Source Fool.com
