ACB Stock Price: Aurora Cannabis inc in penny stock territory amid broad coronavirus sell-off


  • Aurora Cannabis stocks trade below one dollar in New York.
  • The massive sell-off in equities, fueled by coronavirus fears, is the latest trigger.
  • The NY delisting risk adds to previous issues.

Aurora Cannabis Inc is trading at around 95 cents on the New York Stock Exchange. While ACB's Toronto-traded shares are above C$1, the marijuana firm is now ta penny stock territory. If this situation persists for 30 days and if other conditions are satisfied, NYSE may delist Aurora.

Confined to trading at the TSX, Aurora would attract fewer investors, and that would further exacerbate its situation. The latest trigger for the downfall is the broad stock market sell-off, which is related to the coronavirus health crisis. Rising anxiety and home quarantine may eventually increase cannabis consumption, but markets are tumbling worldwide, and almost no stock is spared.

Aurora's management – which has been reshuffled in February – may opt for a "reverse split." Companies that are seeing a plunge in the value of their stocks can merge two or more shares into one, making the new equity worth more than one dollar and thus averting the dreaded delisting. However, such a move tells investors that the firm does not foresee growth in the near future.

It seems that the weed firm has limited options when it comes to its stock price, However, if it announces new products, rising revenues, new partnerships, etc.it would have its own reasons to rise – regardless of broader markets. 

Aurora Cannabis Stock Price

Aurora Cannabis stock price March 11 2020

As the chart shows, ACB has been on a downtrend in recent days, extending its fall. It has fallen below $1 and fails to recover. 

See ACB Stock Price: Aurora Cannabis inc has three (mostly coronavirus-related) reasons rise

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