Aurora Cannabis Stock Forecast for July
This month, the marijuana industry is in a state of flux. With the Canadian marijuana legalization date now settled, we saw a massive upswing in stock value industry-wide, which then came crashing down a week after the Canadian government announced the date.
Aurora Cannabis Inc (OTCMKTS:ACBFF, TSE:ACB) has been positioning itself all year to take advantage of Canada’s marijuana legalization. With that in mind, what’s the Aurora Cannabis stock forecast for the rest of July?
That all depends.
Aurora has been the most aggressive company in the marijuana market this year, gobbling up smaller competitors left and right, culminating in its 10-figure deal to aquire MedReleaf Corp (OTCMKTS:MEDFF, TSE:LEAF).
The company’s plan since the beginning of 2018 has been to acquire as much production capacity as possible in order to best situate itself to become the top dog in the cannabis industry when Canadian marijuana legalization arrives.
That plan seems to have been panning out, but not to great benefit for Aurora Cannabis stock.
The stock price is down about seven percent year-to-date. While the acquisitions have been good at grabbing headlines, they haven’t quite translated into increased stock value.
But all that is set to change if Aurora Cannabis Inc can become one of the leading marijuana providers come October 17, the date of Canadian marijuana legalization.
The company already has a number of deals in place to provide marijuana to Canadian consumers.
Aurora Cannabis also received its sales license from Health Canada for its “Aurora Vie” production facility in Quebec.
The facility is now in full commercial operation and is slated to produce about 4,000 kilograms of cannabis per year by October—just in time for Canada’s marijuana legalization. (Source: “Operational Update: Aurora Cannabis Receives Sales License for Vie Facility in Quebec; First Harvest at Aurora Sky,” Cision, July 3, 2018.)
The company has a production capacity that is second to none in the legal cannabis industry.
While July is looking to be on the quieter side of things, an unexpected acquisition or deal would not be unheard of for Aurora Cannabis, and that could send the stock value soaring.
Things haven’t quite worked out the way Aurora Cannabis Inc planned so far in 2018, but that doesn’t mean the company can’t make a turnaround.
While July is going to be a volatile but ultimately average month for marijuana stocks by my estimation, Aurora Cannabis stock could be one of the more interesting players, due to its penchant for unexpected acquisitions.