Aurora Cannabis Forges Higher Despite Bear Note, C-Suite News

Short interest has seen a notable increase in recent months

Managing Editor
Dec 24, 2019 at 9:14 AM
facebook X logo linkedin

Weed specialist Aurora Cannabis Inc (NYSE:ACB) is up 1.5% this morning at $2.04, despite receiving a downgrade to "hold" from "buy" out of Jefferies yesterday afternoon. Interestingly enough, the downgrade came on the heels of news the company's Chief Corporate Officer (CCO) Cam Battley has resigned, and yesterday's announcement it has created steps to reduce debt and boost liquidity. Yesterday the shares plunged 10.7% on the news, though now look to be in recovery mode. Long term, ACB has struggled as well, with a stiff ceiling at the 30-day moving average adding pressure to its now 60% year-to-date deficit. 

Meanwhile, short interest on Aurora Cannabis has grown 5% during the past two reporting periods, and now accounts for a hefty 17.1% of the stock's total available float. At the weed name's average pace of daily trading, it would take short sellers over seven days to buy back their bearish bets.

Circling back to analyst sentiment, coming into today, six of the 11 covering firms sport a "buy" or "strong buy" rating. And what's more, the stock's average 12-month price target of $3.74 comes in roughly 83% above current trading levels.



How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.