Aurora Cannabis Inc. is a Canadian company that legally produces and distributes Cannabis throughout Canada. Since 2018, Aurora Cannabis has played a roll in the stock market, trading in the Toronto Stock Exchange.
This Canadian-based company has made headlines recently as they denied merging with larger United States based cannabis companies. Now they are making headlines once again as their stock prices increase, shocking analysts and avid watchers of the stock market.
Stock Market News Today – Cannabis Stock Predictions
Cannabis Industry is Growing as States and Countries begin to Legalize
As of May 21st, the stock price of Aurora Cannabis ACB stocks has risen 2.06 more than the previous day. Analysts and business owners argue that the stocks of this Canadian cannabis Industry have grown due to the constant changes in state and federal laws.
In the United States, recreational use of marijuana (cannabis) differs between states. Some only allow medical use with a card that establishes a need, while other states allow recreational use starting at a specific age.
Partnership May Affect Future of the Aurora Cannabis Stocks
Aurora Cannabis has been on a swinging pendulum about merging and creating a partnership with another company. Just today, a partnership between UFC and Aurora Cannabis was established as seen in TheStreet.
This has definitely played a roll in increasing stock prices. The interesting partnership has sparked lots of questions for analysts and stock market watchers afraid and excited to buy stock.
The Future Looks Bright
The future when dealing with Aurora Cannabis stocks looks to be bright. Eleven analysts according to CNN Business have offered a 12-month price forecast for the ever-changing stocks.
The median according to the chart created by the eleven analysts is 11.15, which would mean a +28.8% increase. The highest price of the stock when referring to this chart is 12.27 which differs drastically from the predicted low of 5.19.