ACB Stock Price: Aurora Cannabis Inc. struggles for direction near 0.72.
|- ACB looks to open around the 0.72 mark in pre-market trading.
- US markets sticks to the positive opening on Wednesday.
Aurora Cannabis Inc. (ACB) is expected to start Thursday’s session just around Wednesday’s close near the 0.72 level at the time of writing.
The expected negative open in ACB contrasts with small gains from both the S&P500 and the DowJones during the pre-market activity. In fact, market participants are seeing stocks extending Wednesday’s positive performance, which was sustained by better-than-expected corporate earnings reports, extra stimulus and a moderate rebound in crude oil.
In the same direction, ACB reversed three consecutive daily advances and retreated to the sub-0.72 area on Wednesday.
On the broader scenario, concerns over the company’s balance sheet and liquidity keep buyers at bay for the time being in spite of restructuration plans including large layoffs, boost of production capacity and the reduction of the balance sheet.
Aurora Cannabis Stock Price
At the moment (pre-market), ACB is gaining 0.18% at 0.7192 and a surpass of 0.9296 (monthly high Apr.6) would expose 1.1135 (55-day SMA) and finally 1.13 (weekly high Mar.27). On the other hand, the next contention emerges at 0.6550 (monthly low Apr.17) seconded by 0.60 (2020 low Mar.19) and then 0.34 (monthly low Aug.2016).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.