Will Aurora Cannabis Become a Penny Stock Once Again?
The marijuana industry created a lot of buzz last week following the U.S. election. Residents in five states went to the polls to determine whether recreational or medical cannabis would be legalized, with every single ballot measure passing. It was a true green wave for the cannabis industry, and pot stocks have been soaring in unison ever since.
One marijuana stock that's caught fire is Canadian licensed producer Aurora Cannabis (NYSE: ACB), which on Thursday, Nov. 5, shot higher by 42%. Aurora has consistently been the most popular pot stock held by millennial investors on online investing app Robinhood.
But don't let these recent big gains fool you -- Aurora Cannabis isn't a well-run company. In fact, after escaping penny stock territory with a 1-for-12 reverse split in May that staved off delisting from the New York Stock Exchange, the company could well find itself a penny stock, once again, if things don't dramatically improve in the near future.
Source Fool.com
