The Week In Cannabis: Peltz's Departure, Earnings, Stocks Slightly DownPosted by On


The week began with the departure of activist investor Nelson Peltz from Aurora Cannabis Inc. (NYSE:ACB), just 18 months after being hired as a strategic advisor.

Aurora and Peltz “have concluded their relationship,” an Aurora spokesperson confirmed. “This change is a direct result of Mr. Peltz’s decision to pursue other commitments, and the company appreciates his valuable contributions.”

The announcement came just days after the Edmonton, Canada-based company reported a CA$3.3 billion ($2.5 billion) loss for the 2020 fiscal year. Shares of Aurora Cannabis closed the week down 8.7%.

Fortunately, ETFs didn’t take such a big hit. Over the five trading days of the week:

  • The ETFMG Alternative Harvest ETF (NYSE:MJ): lost 0.7%
  • The AdvisorShares Pure Cannabis ETF (NYSE:YOLO): was down 1.5%
  • The Cannabis ETF (NYSE:THCX): was down 1%
  • The Amplify Seymour Cannabis ETF (NYSE:CNBS): closed the week flat.
  • The SPDR S&P 500 ETF Trust (NYSE:SPY) was up…

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