ACB - Why Aurora Cannabis Stock Dropped 12% Today
2024-03-25 14:14:08 ET
Last week was a wonderful week to own shares of Canadian marijuana producer Aurora Cannabis (NASDAQ: ACB) . On March 18, Vice President Kamala Harris said that it's time to legalize marijuana, and on Friday, Germany announced that it will legalize it on April 1. Aurora shares shot higher to close the week up 53%.
But today, the stock is falling again, and was down 12% as of 12:25 p.m. ET on Monday.
This could be a case of irrational exuberance running its course. Harris has come out in favor of legalizing marijuana in the United States before. But she said something pretty similar four years ago, and marijuana is still outlawed by federal law.
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Why Aurora Cannabis Stock Dropped 12% Today