Last week, Aurora stock investors got a shock. The company received a downgrade from prominent BofA analyst Christopher Carey, who had previously been very bullish about Aurora Cannabis (TSX:ACB) (NYSE:ACB). The analyst moved his rating from a “Buy” to “Neutral” and cited “cash-burning” as the reason.
While there are some that agree with him, others think the decision too hasty. Either way, Aurora stock was greatly affected and has yet to recover. Shares lost roughly 10% since the announcement and remain at a lower evaluation, selling for $8.70 CAD at present.
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