Economy

Billionaire joins Aurora Cannabis as strategic adviser

Billionaire joins Aurora Cannabis as strategic adviser

Aurora Cannabis shares were up 8.5% following the announcement.

Cannabis stocks continued to grow Wednesday as USA markets surged into positive territory.

Peltz said he sees Aurora as having "strongly differentiated from its peers" and is "poised to go to the next level across a range of industry verticals". In exchange, Aurora has granted him options to buy almost 20 million common shares at CAD$10.34. "I also believe that Canadian licensed producers, and Aurora in particular, are well positioned to lead in the development of the global cannabis industry as regulations evolve, with a strong, globally replicable operating model".

Peltz, who founded and serves as CEO of New York-based Trian Partners, has over the decades commanded respect across Wall Street for his investing prowess and ability to reshape companies.

Over a year-to-date period shares of the company have increased 51.91 percent in NY.

Romelu Lukaku out of FA Cup quarter-final clash against Wolves
That would have been the case for the second legs, as both United and City were drawn as the away teams for the first leg. Every single game that you win puts another layer on that, on the way to becoming the team that we want to be.

Cantech Letter reported Martin Landry, GMP Securities analyst, increased his one-year target price projection on Aurora to C$15. He was previously a director at the food companies H.J. Heinz and Mondelez International and was also chairman and CEO of Triarc Companies, which owned Arby's and Snapple, as well as other consumer and industrial businesses. (NYSE:ACB) were released by: 247Wallst.com and their article: "5 Stocks Trading Under $10 That Could Have Gigantic Upside Potential - 24/7 Wall St." published on March 09, 2019 as well as Benzinga.com's news article titled: "Aurora Cannabis Shares Dive Following $250M Offering News (NYSE:ACB) - Benzinga" with publication date: January 17, 2019.

Aurora, the second biggest cannabis producer by market value, has also been looking beyond recreational marijuana to drive sales, especially after the legalization of hemp, which was part of 2018 US farm bill.

"Nelson is a globally recognized business visionary with a strong track record of constructive engagement to generate accelerated, profitable growth and shareholder value across many industry verticals that are of great interest to us", said Aurora's chief executive Terry Booth in a statement. The analyst also upgraded his take on Aurora shares from "Hold" to "Buy". "We believe he could be instrumental in facilitating discussions with large CPG companies".

The Marijuana Index, which monitors leading North American cannabis stocks was up 0.9% to 291.59. The company's Toronto stock closed at $10.64 on Tuesday. Aurora Cannabis plans to make a deep foray into the recreational consumer space in Canada and the U.S. since hemp is legal in the country.


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