A Big Fund Bought Up Marijuana Stock Aurora Cannabis and Mastercard.
Ed Lin, 15 February 2021
A large pension recently made big changes in its U.S.-traded investments. British Columbia Investment Management raised its investment in marijuana stock Aurora Cannabis (ticker: ACB), and bought more Mastercard (MA) stock, while it cut positions in Visa (V) and Shopify (SHOP) stock in the fourth quarter. The manager of the Canadian province’s public funds disclosed the trades, among others, in a form it filed with the Securities and Exchange Commission.
BCI, as the pension is known, declined to comment on the investment changes. It manages $135 billion in assets. BCI bought 232,058 additional shares of Aurora Cannabis to end 2020 with 290,404 shares.
Continue reading “Article: A Big Fund Bought Up Marijuana Stock Aurora Cannabis and Mastercard.”
Aurora Cannabis Inc. Investors: Company Investigated by the Portnoy Law Firm
GLOBE NEWSWIRE, 08 October 2020
A The Portnoy Law Firm advises Aurora Cannabis Inc. (“Aurora” or the “Company”) (NYSE: ACB) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors. The investigation focuses on allegations that Aurora may have issued misleading information to the investing public.
A press release was issued by Aurora on September 8, 2020, “announcing] an update on its business operations along with certain unaudited preliminary fiscal fourth-quarter 2020 results.” Aurora announced that the Company expected to record up to $1.8 billion in goodwill impairment charges in the fourth quarter of 2020. Aurora also announced that “previously announced fixed asset impairment charges [were] now expected to be up to $90 million, due to production facility rationalization, and a charge of approximately $140 million in the carrying value of certain inventory, predominantly trim, in order to align inventory on hand with near term expectations for demand.”
Continue reading “Article: Aurora Cannabis Inc. Investors: Company Investigated by the Portnoy Law Firm”
Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of Aurora Cannabis, Inc. (ACB) on Behalf of Investors
BUSINESS WIRE, 05 October 2020
Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Aurora Cannabis, Inc. (“Aurora” or the “Company”) (NYSE: ACB) investors concerning the Company’s possible violations of the federal securities laws.
On September 8, 2020, the Company announced that it expected to record up to $1.8 billion in goodwill impairment charges in fourth quarter 2020. According to Aurora’s press release, these charges included “up to $90 million” in fixed asset impairment charges “due to production facility rationalization, and a charge of approximately $140 million in the carrying value of certain inventory, predominantly trim, in order to align inventory on hand with near term expectations for demand.”
Continue reading “Article: Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of Aurora Cannabis, Inc. (ACB) on Behalf of Investors”
thanks to NYSE delisting the stock is now way lower then it was before the FORCED reversing of stock
HIGH was $8.21 now $5.46 at $8.21 it was .68 cents now at $5.45 is 45 cents
Just who does it help? ONLY the naked short selling crooks it reduces the numbers of naked shorts They still exist BUT now reduced by the 12- stock reverse 12X LESS thats the Wall St magic trick to hide the mess
ACB did the reverse how is it doing the last 2 days? STRAIGHT down just more money to steal instead of a penny stock they sell a $7 stock the CAR WASH
here are prices and volume last 2 days HIGH was $8.21 now $6.80 on that wonderful news
Yahoo Pricing on Aurora Cannabis
THANK YOU NYSE kicking them off because of Price now the animals will just steal again
After a Reverse Split, Can Aurora Cannabis Also Reverse the Downward Trend?
Aurora Cannabis (ACB) is one of the major players in the Canadian pot industry, but along with many other Canadian cannabis stocks, the hype has failed to deliver profits and meet investors’ expectations. As a result, the share price has collapsed by over 90% since early May last year.
Comment: Naked short selling killed this company. Why would a reverse have anything do with business? its means nothing But the stories seem to say the reverse can change the downtrend? HOW?
Aurora Cannabis will roll up its shares Monday in a reverse stock split — here’s what you need to know
what it does to a public company Its like the Fucking Car wash. Go public, get naked shorted down Raise money at low ISSUE way more shares Dilution is the killer of a public company. instead of a company with 10M shares its now has 100 Million shares Your stock is now pennies instead of dollars and the Fucking Naked short selling Hedge funds hold you down until you need more money and they cover on secondary offerings
ITS CALLED A DEATH SPIRAL a great name because it Kills everything in its way
Continue reading “Tip: The Death Spiral Illustrated – Aurora Cannabis”
21.2 Million Reasons Aurora Cannabis Is a Terrible Stock
Sean Williams, 28 April 2020
If you thought the stock market has been taken on a wild ride over the past two months, then take a closer look at how marijuana stocks have fared since the beginning of April 2019. Following the first quarter of 2019, which saw numerous pot stocks rocket into the stratosphere, the past 13 months have erased anywhere from 50% to 95% of cannabis stock valuations.
Mind you, the long-term outlook for the legal weed industry is promising. Tens of billions of dollars in sales are conducted in the black market each year, meaning there’s a very real opportunity to move these illicit users to legal channels over time. But in the short run, U.S. pot stocks have been crushed by high tax rates, while Canadian cannabis companies have run into supply bottlenecks and shortages, depending on the province.
Continue reading “Article: 21.2 Million Reasons Aurora Cannabis Is a Terrible Stock”
IMPORTANT INVESTOR REMINDER: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Aurora Cannabis Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
16 December 2019
The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Aurora Cannabis Inc. (“Aurora” or “the Company”) (NYSE: ACB) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Read full release.
5 Law Firms Launch Investigations into Aurora Cannabis Inc. for Securities Violations
Steven Lachard, 19 November 2019
Last week, Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB) shares fell following weak fiscal second-quarter earnings from Canopy Growth Corp. (NYSE:CGC) (TSX:WEED), as well as weaker fiscal first-quarter numbers of its own. According to the Motley Fool, this drop in share price made it “one of the worst-performing mid-cap stocks currently listed on the New York Stock Exchange (NYSE) this calendar year.” To add insult to injury, at least five different law firms have now launched investigations into Aurora Cannabis for a variety of allegations including securities fraud and more.
Continue reading “Article: 5 Law Firms Launch Investigations into Aurora Cannabis Inc. for Securities Violations”
Lakewood’s Anthony Bozza Recommended Shorting Three Pot Stocks at Robin Hood
Joshua Fineman, 30 October 2018
(Bloomberg) — Lakewood Capital Management LP’s Anthony Bozza recommended shorting Tilray Inc., Canopy Growth Corp., and Aurora Cannabis Inc. at the Robin Hood Investors Conference in New York City, according to a person with knowledge of the presentation. Two of these companies, Canopy Growth and Aurora Cannabis, were named new shorts by Lakewood in their fourth-quarter letter to clients in January.
Bozza said that it’s not a matter of if, but when these pot stocks collapse. Tilray shares have reversed about 9 percent for the day’s peak, turning negative around the same time that Bozza was scheduled to present at RobinHood.
Continue reading “Article: Lakewood’s Anthony Bozza Recommended Shorting Three Pot Stocks at Robin Hood”
Hedge fund says cannabis stocks will either collapse or we should all move to Canada and grow pot
Leslie Picker, 25 January 2018
A multibillion-dollar hedge fund is not high on marijuana stocks. Lakewood Capital Management, led by Anthony Bozza, revealed short positions in Canopy Growth (: CGC-CA) and Aurora Cannabis (Toronto Stock Exchange: ACB-CA) , according to the firm’s fourth-quarter investor letter sent Wednesday and obtained by CNBC. The firm has about $5 billion in assets under management. “It has been hard to come across a retail investor rag or stock blog without hearing about some way to play this theme, and countless web sites are now devoted to investing in this exciting industry,” Bozza wrote.
“Despite recent mania around the legalization of recreational pot in California, there is a little problem: none of these companies sell at all into California (or anywhere else in the U.S. for that matter), since that would, of course, be illegal.” Bozza notes that much of the “appeal” surrounding these stocks recently stems from “regulatory momentum, constant press coverage, growing public acceptance, an absence of large incumbents and an enormous, rapidly expanding market opportunity.” But, he adds, that the barriers to entry for the industry are very low and that the number of licensed producers in Canada is growing rapidly. Bozza estimates that Canopy Growth’s production capacity can be recreated for less than 150 million Canadian dollars and Aurora’s for CA$100 million.
Continue reading “Article: Hedge fund says cannabis stocks will either collapse or we should all move to Canada and grow pot”
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.
Continue reading “Article: Canada’s Aurora dismisses Citron prediction for share drop”
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.
Continue reading “Article: Citron Slams Aurora Cannabis; Company Says It Won’t ‘Lose Any Sleep On Amateurish Attack’”