Aurora Cannabis Inc (NYSE: ACB) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced that it has appointed a billionaire as a strategic advisor.
As you could imagine, the news excited investors, pushing the stock on a run for the top. Today, we’ll talk about:
- The strategic advisor appointment;
- what we’re seeing from ACB stock as a result; and
- what we’ll be watching for ahead.
ACB Announces Appointment Of Nelson Peltz
As mentioned above, Aurora Cannabis is having an incredibly strong day in the market today after announcing that it has appointed a new strategic advisor. The news came via press release early this morning.
In the release, ACB said that it has appointed billionaire investor, Nelson Peltz, as its strategic advisor. As a result, Peltz will work with the company to explore potential partnerships that may be the optimal strategic fit for a successful entry into each of the company’s contemplated market segments.
The company also said that Mr. Peltz will advise it on its global expansion strategy. In a statement, Terry Booth, CEO at ACB, had the following to offer:
Nelson is a globally recognized business visionary with a strong track record of constructive engagement to generate accelerated, profitable growth and shareholder value across many industry verticals that are of great interest to us.
Like us, Nelson also takes a long-term view of value creation to benefit all stakeholders. We look forward to working with Nelson to further extend our global cannabis industry leadership by aligning Aurora with each of the major market segments cannabis is set to impact.
The above statement was followed up by Mr. Peltz. Here’s what he had to say:
I believe Aurora has a solid execution track record, is strongly differentiated from its peers, has achieved integration throughout the value chain and is poised to go to the next level across a range of industry verticals.
I also believe that Canadian licensed producers, and Aurora in particular, are well positioned to lead in the development of the international cannabis industry as regulations evolve, with a strong, globally replicable operating model. I look forward to working with Terry and the extended Aurora team to evaluate its many operational and strategic opportunities, including potential engagement with mature players in consumer and other market segments.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to Aurora Cannabis, the news proved to be overwhelmingly positive.
After all, Nelson Peltz is no stranger to making smart moves in the market. He earned his way to being a billionaire elite, and with the announcement, his advise will likely lead the company to the next level.
So, it’s not surprising to see that excited investors are sending the stock on a run for the top. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:40), ACB is trading at $8.69 per share after a gain of $0.73 per share or 9.17% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on ACB. In particular, we’re interested in following the company’s continued expansion as the global cannabis and CBD market continues to emerge. Nonetheless, we’ll keep a close eye on the news and bring it to you as it breaks!
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