Why Robinhood? You can buy or sell ACB and other stocks, options, and ETFs commission-free!
Aurora Cannabis, Inc. engages in the production, distribution and sale of cannabis products. It also produces and sells indoor cultivation systems and hemp related food products. Read More The company was founded by Terry Booth and Steve Dobler on December 21, 2006 and is headquartered in Calgary, Canada. The listed name for ACB is Aurora Cannabis Inc. Common Shares. Headquarters
Calgary, Alberta
Jack Kramer & Nick Martell Managing Editors of News & Snacks at Robinhood Financial LLC Nov 5, 2020
Stocks react to election results: we break down sector moves, from Big Tech to pot Read More 2,000 years later... (in SpongeBob voice). As Americans watched election results slowly trickle in yesterday, only one thing seemed clear: the likelihood of a divided Congress (the sequel). This Democrat-controlled House and Republican-controlled Senate excited one sector: Big Tech.
A divided Congress makes it harder to pass legislation against tech giants. Both sides have major beef with Big Tech, but their grievances are different (sometimes, opposite).
A Blue Wave in Congress could've brought big changes to Big Tech. That doesn't seem to be happening, reducing the chance of major reform.
So investors boosted Big Tech. The Nasdaq surged yesterday as Facebook stock jumped 8% and Google and Amazon spiked 6%.
Big Gambling... also made some election-related moves. Voters in Maryland, Louisiana, and South Dakota said "Yes" to legalized sports betting, sending DraftKings and Penn National Gaming shares up over 5%. Also making waves:
Big Weed: Arizona, New Jersey, Montana, and South Dakota voted to legalize recreational marijuana. Oregon took it a step further, becoming the 1st to legalize magic shrooms for medical treatment.
Buuut... Big Pot stocks Canopy, Aurora, and Tilray actually dropped because they want legalization at the federal level. A Republican Senate makes that unlikely.The Takeaway:The 1st reaction isn’t always the long-term one... Stocks react to news all the time — but long-term, there's a lot we still don't know. For example, it's possible that a divided House could pass laws that significantly hurt Big Tech — or green light weed. Nov 5, 2020
Stocks react to election results: we break down sector moves, from Big Tech to pot Read More 2,000 years later... (in SpongeBob voice). As Americans watched election results slowly trickle in yesterday, only one thing seemed clear: the likelihood of a divided Congress (the sequel). This Democrat-controlled House and Republican-controlled Senate excited one sector: Big Tech.
A divided Congress makes it harder to pass legislation against tech giants. Both sides have major beef with Big Tech, but their grievances are different (sometimes, opposite).
A Blue Wave in Congress could've brought big changes to Big Tech. That doesn't seem to be happening, reducing the chance of major reform.
So investors boosted Big Tech. The Nasdaq surged yesterday as Facebook stock jumped 8% and Google and Amazon spiked 6%.
Big Gambling... also made some election-related moves. Voters in Maryland, Louisiana, and South Dakota said "Yes" to legalized sports betting, sending DraftKings and Penn National Gaming shares up over 5%. Also making waves:
Big Weed: Arizona, New Jersey, Montana, and South Dakota voted to legalize recreational marijuana. Oregon took it a step further, becoming the 1st to legalize magic shrooms for medical treatment.
Buuut... Big Pot stocks Canopy, Aurora, and Tilray actually dropped because they want legalization at the federal level. A Republican Senate makes that unlikely.The Takeaway:The 1st reaction isn’t always the long-term one... Stocks react to news all the time — but long-term, there's a lot we still don't know. For example, it's possible that a divided House could pass laws that significantly hurt Big Tech — or green light weed. Mar 25, 2020
Pot sales are soaring on lockdown panic Read More If it helps people stay glued to the couch... that's one way to fight the COVID-19 spread. North American weed producers are seeing a major sales boom. As lockdowns continue across the US and Canada, panicked pot buyers are stocking up on their brownies, gummies, and smokeable weed products in particular. All this panic even though...
Cannabis stores have been listed as "essential services" (not mandated to close) in over 12 states. Others that can't remain open are shifting to delivery/pickup.
On Monday, the Mayor of Denver ordered all recreational weed stores to close — then he reversed the ban just a few hours later on widespread outrage.
Hitting new highs, after years of disappointment... Since recreational weed was legalized in parts of the US and Canada, sales slowed. Demand was over-hyped and producers ended up over-producing: shares of Canadian cannabis giants Aurora Cannabis, Tilray, and Canopy each started 2020 down ~60% from their 2018 highs. But now...
+50% = How much recreational weed sales across the key markets of California, Colorado, Oregon, and Alaska were up last week.
+150% = Spike in weed sales in the SF Bay Area after the "stay-at-home" order was issued (compared to same time last year).
+100% = How much online cannabis sales on Canada's gov-run Ontario Cannabis Store jumped in only 2 weeks.
One guy even purchased enough weed for 9.5 years of daily joint-smoking.
The Takeaway:This probably won't change long-term weed demand... The surge in sales is giving pot stocks a boost — in the last 5 days, Canopy is up 35% and Tilray is up 43% (though both are still down over 70% from a year ago). Still, the bump in sales will likely dwindle when things get back to normal. And if people have a lot hoarded, it may actually hurt cannabis companies more in the long-run (they'll lose out on future sales). Q3 FY19
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