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Is Aurora Cannabis A Turnaround Story To Be Aware Of?

Dec 8, 2022 • 2:44 PM EST
1 MIN READ  •  By Michael Berger
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Although 2022 has been a challenging year for the cannabis sector, market conditions have improved and we are favorable on the trend reversal. We attribute the positive momentum to pro-cannabis legislation gaining traction in Congress and will monitor how the bills advance from here.

Aurora Cannabis Inc. (Nasdaq: ACB) (TSX: ACB) is a leading North American cannabis company that has been especially impacted by market conditions and is an operator that we continue to closely follow.

Although we are not favorable on Aurora Cannabis’ decision to acquire Reliva, we believe the management team has done a fairly good job at turning the business around. The leadership team has been highly focused on strengthening the company’s balance sheet and we are favorable on this initiative.

Earlier this week, the Canadian Licensed Producer (LP) announced that it has repurchased approximately US$76.1 million of its convertible senior notes for US$73.8 million. Following the completion of the repurchase, Aurora Cannabis will have approximately US$110 million of notes outstanding.

Over the last twelve months, Aurora Cannabis repurchased an aggregate of approximately US$235 million of its convertible senior notes and we are favorable on this. The transactions will allow the company to recognize approximately US$12.9 million in annual cash interest savings.

Although Aurora Cannabis has recently been trending higher, the stock has fallen more than 70% so far this year (as of December 5th). Following the decline, the company is valued at less than $1 billion and we will monitor how the story advances from here.

At current levels, we remain cautiously optimistic with Aurora Cannabis and will continue to provide updates to our readers. To learn more about Aurora Cannabis, please send an email to suppport@technical420.com with the subject “Aurora Cannabis” to be added to our distribution list.

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Authored By

Michael Berger

Michael Berger is Managing Partner of StoneBridge Partners, LLC and Founder of Technical420.com. Prior to entering the cannabis industry, Michael was an Equity Research Analyst at Raymond James Financial covering the Energy Sector. Michael has been featured in publications such as The Street, Bloomberg, US Money News, and hosts various cannabis events across North America.

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