Canadian kush company Aurora Cannabis Inc. announced it has been approved for Trading on the New York Stock Exchange starting October 23, 2018. It’s similar to Tilray w/o the meteoric rise in price.
Previously, the stock (ACB) was traded in the over-the-counter market, an off-exchange done directly between two parties, and also on the Toronto Stock Exchange.
Getting listed on The Big Board will increase liquidity dramatically and I expect a big pop in the first week of trading.
Here’s a chart of Aurora vs Tilray. Aurora (blue) is up 43% on CA$33 million in revenues and Tilray (orange) is up 581% on CA$12.7 million in revenues. Both are expensive on a price-to-sales or price-to-earnings basis.
Tilray has had massive moves to the upside because it’s readily available for trade whereas Aurora was unavailable.
Long ACB.
