ACB - Could Aurora Cannabis Stock Actually Be a Screaming Buy Right Now?
2023-11-11 05:52:00 ET
Any way you look at it, the last five years have been atrocious for Aurora Cannabis (NASDAQ: ACB) . Shares of the Canadian cannabis company plunged nearly 99.7% below the high set in the first half of 2019.
Believe it or not, though, things appear to be getting better for Aurora. The company reported its fiscal 2024 second-quarter results after the market closed on Thursday. Investors liked the Q2 update so much that the marijuana stock soared as much as 13% in early trading on Friday. Could Aurora Cannabis stock actually be a screaming buy right now?
Even a skeptic will be forced to admit that Aurora Cannabis seems to be experiencing mounting momentum. The cannabis company's net revenue jumped 30% year over year, to 63.4 million in Canadian dollars. Aurora delivered positive adjusted earnings before interest, taxes, depreciation, and amortization ( EBITDA ) of CA$3.4 million -- a record high for the company and its fourth consecutive quarter of positive adjusted EBITDA.
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Could Aurora Cannabis Stock Actually Be a Screaming Buy Right Now?