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TSE:ACB, 16.32 CAD, stock has experienced growth and momentum on July 2.
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Aurora Cannabis The company received a boost from cost-cutting measures.
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Furthermore, the company’s focus on R&D is adding positively to its outlook.
TSE:ACB, Aurora Cannabis Inc.’s TSE:ACB stock price stood at 16.32 CAD as of July 2, as it found stability after announcing cost-cutting measures and experiencing high demand and growth.
The company’s stock price received a decent ‘high’ within a day, because of a rise in demand for pot stocks, revived business and management plans and focus on R&D, which has inevitably has given the firm a much-needed push for its revival.
If we look at the company’s day to day performance, then TSE:ACB is in the green. However, Aurora Cannabis Inc. has a long way to go.
A few factors that will add to ACB stock (price and momentum) are new management and investment in Research and Development. R&D will help the company identify its competition and mark its moves with caution and resilience.
Aurora Cannabis Inc. needs time to grow.
Canada legalized weed in the country in 2018. Since then, Aurora Cannabis Inc. has made itself a good name in the industry. The problem is that it is facing high competition and with volatile markets – especially because of the Covid-19 outbreak – things have become complicated and tricky.
In 2019, Aurora Cannabis Inc.’s. revenue was C$247.9 million. Since then, there have been extreme restrictions in the market, which have affected Aurora negatively.
Aurora’s mergers, partnerships or acquisitions will only pay off as long as Aurora keeps up. For the remaining part of it, Aurora will have to push through: It will have to keep up with costs, and it will have to maintain its R&D efforts, quality, and output for successive sales and growth.
Stay tuned.
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