Despite a rough year for the stock market, the green flag has been waving in full force for most North American cannabis stocks. An election night sweep in five U.S. states, coupled with Ontario finally getting its act together on the dispensary licensing front, has rolled out the green carpet for pot stocks.
Well, most pot stocks, anyway.
Aurora Cannabis (NYSE:ACB), the most popular marijuana stock in the world, has been nothing short of a train wreck in 2020. Shares of the company are off 58% year-to-date, yet have nearly tripled over the past five weeks. After a volatile and disappointing 2020 campaign, investors are left to wonder if it’s finally time to buy into Aurora Cannabis.
Before casting my verdict, let’s take a closer look at some of the key reasons Aurora would and wouldn’t be worth buying right now.
Image source: Getty Images.
Here’s why 2021 could be a much greener year for Aurora Cannabis
Arguably the biggest catalyst for Aurora is its executive turnover. As I’ll describe a bit later, the company’s previous management team put it in a serious bind. Since longtime CEO Terry Booth resigned, Aurora has made tangible financial progress by slashing expenses and reducing its cash…
