Aurora Cannabis Stock to Double Next Year?

Aurora Cannabis Stock to Double Next Year? RICH TV LIVE – SEPTEMEBR 24, 2019 – Aurora stock has the potential to double next year, according to Canaccord’s Matt Bottomley, who has set a $13.50 CAD target for Aurora Cannabis (TSX:ACB) (NYSE:ACB).

Legalization 2.0: The Catalyst for Aurora Stock?
While Aurora stock has been struggling throughout 2019, Bottomley believes the world’s second-largest cannabis company has everything in place to kick on in 2020 and double its share value. One of the main factors for this speculative price target is the passing of legalization 2.o next month in Canada, which will see cannabis derivative products go to market by mid-December, and should offer a significant boost for the industry as it looks to recover from a summer slump.

Aurora stock dropped more than 8% when the company reported weaker than expected quarterly results earlier this month and walked back on its aim to turn a profit in 2019. Revenue of $98.9 million CAD represented a 52% increase from the previous quarter and 416% from the same period last year, but it still fell short of analysts’ expected figure of $108.3 million CAD. Aurora shares were further hampered after Aurora Cannabis reneged on its profitability target, simply stating that it was “on track” to achieve this goal in the future.

Not Everyone’s Feeling Optimistic
Not all analysts are as optimistic as Bottomley, with Stifel’s W. Andrew Carter recently lowering his rating for Aurora stock from “hold” to “sell” and reducing his price target from $7.00 CAD to $5.00 CAD. Carter believes that Aurora’s fourth-quarter report shows that the company is nowhere near to achieving profitability, and doesn’t expect this to change anytime soon, as he cut his forecast for Aurora’s full-year revenue from $600 million CAD to $485 million CAD.

One major issue that Aurora Cannabis faces going forward, which analysts seem to have reached a consensus on, is the need for external financing in order to keep up with some of its major competitors. Aurora has yet to secure increased financing save for selling a significant portion of its stock to a larger pool of investors, unlike rivals Canopy Growth (TSX:WEED) (NYSE:CGC), which secured a $4 billion CAD investment from Constellation Brands (NYSE:STZ), and Cronos Group (TSX:CRON) (NASDAQ:CRON), which received a $1.8 billion investment from tobacco giant Altria (NYSE:MO).

Aurora stock is currently valued at $6.82, which is up over 2%, and while it’s impossible to tell exactly how much of a catalyst effect legalization 2.0 will have, investors will be hoping that the worst of Aurora’s troubles are behind it.

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12 Comments

  1. @JCooK2007 on July 12, 2024 at 6:28 pm

    I thought I was completely understanding the patterns with ACBs charts….then it was rated as a "Sell" and now I’m lost. I’m sensing these drops are orchestrated to entice bigger players….in other words….the rich are just playing their game to make their millions.



  2. @ilikeshroomgals on July 12, 2024 at 6:30 pm

    to diluted cannabis sector needs a few of these companies on the margins to fail so the consolidation phase can happen like in oil and beer



  3. @Knowledge.to_Come on July 12, 2024 at 6:35 pm

    Not a fan of aurora cannabis i think they got over hyped for almost no reason and actually turned canopy into the underdog in retail investors eyes. Why? Retail see the premium takeover baked in to canopy already where its not baked in to aurora. Something of the sort. They dont check how many shares are outstanding. Constellation brands is an ancient enterprise now shadow running canopy as puppet masters i put my money on a quadruple on canopy by 2021



  4. @davrocket5304 on July 12, 2024 at 6:37 pm

    this thing will bounce for sure !!!



  5. @chrisb5048 on July 12, 2024 at 6:38 pm

    I think they’ll just stay the same price



  6. @blo259 on July 12, 2024 at 6:47 pm

    THANKS RICH!!!! GREAT VID!!!!



  7. @JFresh1520 on July 12, 2024 at 6:47 pm

    I would love to sell my shares when it hits $13+ and load up on shares when the price drops. Although, what if big news comes out as you sell and then the price doubles from $13+. I’ll probably just hold and continue averaging down.



  8. @scottfinch6037 on July 12, 2024 at 6:55 pm

    What’s up bro I just wanted to ask your opinion on Emerald Health and Neptune Wellness and where you see them in the next 18 months?Thanks Man.



  9. @johnsantiago3606 on July 12, 2024 at 6:56 pm

    🔥RICH IS🔥🤯
    LETS GET IT BRO!!

    RESPECT!!!



  10. @neurosis333 on July 12, 2024 at 7:00 pm

    Make no mistake, folks….Rich is the CANNABIS KING! Make sure you both SUBSCRIBE as well as hit the ALERT button….and then hit the LIKE button each time you tune in!!!!!!!!!!!!!!!!!!!!!!!!!



  11. @brooksmcginn5033 on July 12, 2024 at 7:01 pm

    Eviana at .138 today!



  12. @onneb1414 on July 12, 2024 at 7:03 pm

    Hi Rich, I agree with you up their pattern of going up and down, but don’t you think that will change when Aurora starts making profit?