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Is Aurora Cannabis Inc. Turning Into A Major Turnaround Story?

Oct 1, 2021 • 6:50 AM EDT
3 MIN READ  •  By Michael Berger
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After reporting weaker-than-expected fourth quarter financial results, Aurora Cannabis Inc. (TSX: ACB) (Nasdaq: ACB) has traded in a mixed pattern and we continue to closely monitor the opportunity.

Yesterday, the Canadian company enhanced its leverage to the international cannabis opportunity and launched the first medical cannabis oil in Uruguay under the brand Bidiol. We consider this to be an important development for Aurora Cannabis and will monitor how operations in Uruguay advance over the next year.

The cannabidiol (CBD) oil is available in 3% and 10% concentrations and is produced domestically. In Uruguay, CBD oil is authorized by the Ministry of Public Health for the treatment of refractory epilepsy in children and adolescents. Bidiol will be offered in 10mL and 30mL bottles and is available in pharmacies across the country. 

Uruguay Could Play a Key Role in Aurora Cannabis’ Future

Aurora Cannabis’ management team stated that it has prioritized key international markets that have the potential to record incremental growth and expand their patient base. CEO Miguel Martin said the product launch has been two years in the making and is a core part of its renewed strategy in Uruguay.

As part of the announcement, Aurora Cannabis reported that it has shifted its strategy in Uruguay to be solely focused on medical cannabis. The Canadian cannabis company’s goal is to make the country its continental center of production and distribution. 

Over the next quarter, we expect Aurora Cannabis to provide additional updates on its progress in Uruguay. In the release, the Canadian cannabis company announced that it is highly focused on continuing to develop its CBD oil product line in Uruguay and has plans to expand its portfolio before the end of the year. 

A key aspect of Aurora Cannabis’ operation in Uruguay pertains to its ownership of one of the only good manufacturing practice (GMP) certified cannabis processing facilities in the country. This will play an important role in how the company can export its CBD product line and we will monitor how the story advances as a result of this trait. 

Is Aurora Cannabis a Potential Turnaround Story?

2021 has been a challenging period for Aurora Cannabis and the stock has come well off its highs from earlier in the year. From closing facilities to slowing growth, the Canadian cannabis company is facing several challenges and the management team needs to turn the story around.

After several broker-dealers lowered price targets on Aurora Cannabis following its fourth quarter financial report, the trend has been mixed. A few days after the average price target was slashed, Jefferies (another broker-dealer) lowered its price target on Aurora Cannabis to C$7.50 from C$8.56.

We continue to be cautiously optimistic with Aurora Cannabis and will monitor how the international cannabis market benefits the business in future quarters. Although the management team has a challenging road ahead, the company still has more than $400 million of cash on hand and we find this to be one of the few bright spots of the story.

If you are interested in learning more about Aurora Cannabis’ leverage to international cannabis markets, please send an email to support@technical420.com with the subject “Aurora Cannabis’ International Exposure” to be added to our distribution list.

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Authored By

Michael Berger

Michael Berger is Managing Partner of StoneBridge Partners LLC. SBP continues to drive market awareness for leading firms in the cannabis industry throughout the U.S. and abroad.

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