Canada’s Aurora dismisses Citron prediction for share drop
Nichola Saminather, 04 January 2018
Canadian marijuana producer Aurora Cannabis Inc on Wednesday dismissed claims from short-seller Citron Research that its stock was set to decline due to problems with its business model. Citron earlier on Wednesday said Aurora shares are poised to shed half their value. Aurora shares on Wednesday closed up 20 percent at C$14.18. They hit a 52-week low of C$1.90 in June.
Citron said in a report posted on Twitter that Aurora lacks a path to profitability, is spending too heavily on acquisitions and that stock sales by company insiders show a lack of confidence in the company’s future.
