Aurora Cannabis Stock Price: Debentures, upbeat survey keep it bid, outlook cautiously optimistic

Aurora's stock price has been recovering from the lows as investors convert debentures.
Optimism about investment in the sector has been pushing all stocks higher.
Legalization may be the next substantial driver for pot stocks.

Yohay Elam FXStreet

Aurora Cannabis Incorporated (ACB), the Edmonton-based company, has leaped by over 12% on Wednesday and closed at a price of $3.50. Its recent rises defy speculation that placed a $1 target for the Toronto-traded share. The most recent surge came after Aurora announced that 94% of debentures allowed to settle this week.

While some have criticized the highly-dilutive conditions, the quick uptake, coming well before the March 2020 deadline, has encouraged investors. Later this week, the firm will publish a press release by detailing the status of the financial maneuver.

Investing in Marijuana Stocks

The marijuana company has also benefited from optimism about the broader sector. According to a survey by KCSA Strategic Communications, no fewer than 86% of respondents said they are bullish on the pot industry despite substantial falls in equity prices. Even in the face of a potential recession, only 5% said it would cause them to sell off their holdings. However, investments have become smaller, with fewer heavy-weight exposures of over $100,000.

For Aurora and the broader sector to rise, legalizing weed on the federal level in the US is needed. The House of Representatives is advancing legislation that includes expungement, but the road is long until the world's largest economy adopts the Canadian model.

Aurora Stock Price Today

Despite the significant rise on Wednesday, ACB is still down on the week. In order to close the week on a high note, the share price needs to gain another dollar. It closed the previous week around $4.50.

Support awaits at the weekly low of $2.90, but the round level of $3.00 may come into play. Likewise, any further advance may find resistance at $4. These round numbers draw attention and are of psychological importance.

See Marijuana Stocks Price: MORE Act lifts prices from lows, financials still weigh

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

GBP/USD holds range below mid-1.3600s amid Fed risks and Iran tensions

The GBP/USD pair extends its sideways consolidative price move for the second straight day, and trades around the 1.3630 area during the Asian session. The US Dollar is looking to build on its modest recovery from the lowest level since May 14, and is acting as a headwind for the currency pair. The lack of follow-through selling warrants some caution for bearish traders.

EUR/USD gains support amid hawkish ECB expectations, subdued US Dollar

EUR/USD inches higher after posting minor losses in the previous day, trading around 1.1670 during the Asian hours. The pair finds support as rising oil prices, elevated bond yields, and escalating Middle East tensions drive Eurozone inflation concerns. These factors have boosted expectations for a more hawkish stance from the European Central Bank, which is widely anticipated to deliver a 25-basis-point rate hike in September.

$4700 tested as Gold pulls back but bullish potential remains intact

Gold has pulled back sharply from fresh 15-week highs of $4,697, snapping a two-day uptrend in Asia on Tuesday. The US Dollar (USD) holds onto recovery gains, capping further upside in the bullion.

Bitcoin tops $80,000 as US Treasury fights high yields – AERO, VIRTUAL rally

Bitcoin extends gains above $80,000 as broader market risk-on sentiment persists. The scarce asset could extend its rally as the US Treasury combats high yields in the long-dated bond market, with further interventions on the horizon. Aerodrome Finance (AERO) and Virtuals Protocol (VIRTUAL) emerged as top performers over the last 24 hours.

Will Jackson Hole ignite Gold and Silver’s next explosive breakout?

The 2026 Jackson Hole Economic Policy Symposium arrives at a pivotal moment. The U.S economy faces record debt, elevated borrowing costs, a weaker dollar and renewed momentum across hard assets. For The Gold & Silver Club, the backdrop increasingly validates its early-year call: “2026 will be the Year of Hard Assets.”

$20 billion offered, $2 billion taken: Why Treasury doubled its buyback cap

The US Treasury moved off its own calendar on Wednesday, and that is the part worth sitting with. At 12:32 GMT, the department said it would at least double the size of liquidity support buyback operations in the 10-year to 20-year and 20-year to 30-year sectors, lifting the maximum from $2 billion per operation to at least $4 billion, effective September 9 and running to November 4.