Cannabis Corner: Never Mind Aurora

Hilary Kramer

Hilary Kramer is an investment analyst and portfolio manager with 30 years of experience on Wall Street.

Aurora Cannabis Inc. (NYSE:ACB) lost a big friend this week when billionaire Nelson Peltz resigned from the board of directors after losing interest in the company.

I don’t really blame him. ACB lost a staggering 52% of its market capitalization last month, vaporizing $740 million in shareholder capital.

Other cannabis investors felt sympathetic pain. In all, nearly $3 billion vanished from the stocks I track.

But it isn’t the end of the world at all. ACB has a flawed business model and is shrinking fast from its once-dominant industry role, but there are plenty of better opportunities available.

Aphria Corp. (NASDAQ:APHA) is one of my long-term favorites. With ACB’s decline, it’s now the second-biggest cultivator stock, only behind Canopy Growth Corp. (NYSE:CGC).

Unlike ACB or CGC, APHA never lost sight of the core medicinal sales opportunity in pursuit of wildcat “recreational” markets. We now see the wisdom of that strategy.

And retail remains the hottest end of the cannabis business. My IPO Edge subscribers are already having fun there. There’s more ahead.

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