Citron Slams Aurora Cannabis; Company Says It Won’t ‘Lose Any Sleep On Amateurish Attack’
Benzinga, 03 January 2018
After a 545-percent run the last three months, AURORA CANNABIS IN (OTC:ACBFF) is running on fumes, according to Citron Research. Short-seller Andrew Left warned investors in a Wednesday short thesis that the $10.80 stock is likely to concede 50 percent “when sanity sets in.”
“You must be high to be buying Aurora, which sports Enron type accounting and is the weakest player in the space,” Left tweeted at 12:39 p.m. ET. Aurora Cannabis announced Tuesday it sold cannabis worth $2.5 million in November, its highest ever. By Left’s assessment, the firm has no path to profitability even without the burden of taxes and distribution, and its financing structure betrays weakness in the underlying business model.
