Forget $4: Aurora Cannabis Could Drop Below $3
Just nine days ago, I opined that it was reasonable to expect that the largest marijuana producer in the world, Aurora Cannabis (NYSE:ACB), might fall below $4 a share – a price point that seemed unimaginable with the company’s stock lapping at $10 just six months prior. But in just over a week’s time, Aurora is dangerously close to proving this $4 prognostication accurate.
Unfortunately, $4 may not be a bottom for Aurora Cannabis. Despite what looks to be an incredible value, when taking into account its international reach and peak production, a perfect storm could wind up sending the most popular pot stock with millennials below $3 per share.
Admittedly, a lot would have to go wrong for Aurora to see a $2 and change share price, but the triggers are in place for it to happen. Here’s what Aurora’s ‘perfect storm’ would look like.
– Read the entire article at The Motley Fool.