ACB - Forget Aurora Cannabis: 1 Cannabis Stock With Far Better Prospects
2023-12-16 07:07:00 ET
Point ... counterpoint.
One week ago, I made the case for why Canadian cannabis stock Aurora Cannabis (NASDAQ: ACB) could be " a screaming buy " right now. And I have to say, the case seems strong.
Aurora Cannabis is just coming off a quarter in which it reported 30% year-over-year sales growth, a quarter in which it reported its highest level of gross profitability since mid-2020, and two straight quarters of historic levels of ... well, not profits exactly, but historically low losses on its business. Furthermore, with a plan to cut costs by a further $40 million per year, Aurora Cannabis might be able to push the company over the threshold to honest-to-goodness positive GAAP profits in 2025 or even 2024.
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Forget Aurora Cannabis: 1 Cannabis Stock With Far Better Prospects