After making the case for Aurora Cannabis (ACB) reaching old highs, the full stock breakout never occurred as pot sales in their home territory of Canada have never materialized in a meaningful way. The large cannabis company desperately needs access to the massive U.S. market, but the Canopy Growth (CGC) path isn’t working out so well for either of those companies leaving Aurora Cannabis out in the cold and the stock struggling until a real solution is found.
Struggling At Home
The easy thesis for a big rally in the Canadian LPs was the expected boom from the legalization of adult-use cannabis last October. The bullish scenario hasn’t come to fruition due to a combination of limited supplies and a black market still in full force.
Statistics Canada numbers show that legal sales of cannabis hasn’t grown as the inventories are starting to build….