What’s Happening After Aurora Cannabis’ Reverse Stock Split
Welcome to our midweek TDR Trade To Black Podcast where we provide value-added insights into the stocks of several emerging industries, including cannabis and psychedelics. $MSOS legend, Dan S. Ahrens joins us today since Monday was a holiday, and we talk some of the latest cannabis news headlines to hit. Among these, we’ll be talking about Aurora Cannabis’ reverse split, the great compromise happening in the Virginia House, and Maryland’s Senate bill designed to protect medical marijuana users.
The market is trading somewhat sideways. There’s peaks and valleys in cannabis, and it looks as though we might be in a valley right now while we wait for news.
On Tuesday, February 20, 2024, Aurora Cannabis completed a 1-for-10 reverse stock split. All holders of Aurora Cannabis received 1 share of ACB in exchange for every 10 ACB shares held at the close of trading on February 16, 2024. Aurora also recently announced Glenn Ibbott, their CFO, has resigned and is maintaining an advisory role while they transition to his successor, Simona King.
Shadd, Anthony, and GUAP discuss what’s happened to the stock since then, and how they feel about investing there. It says a lot about how quickly things can change in the industry, given that Aurora had been considered one of the darlings in cannabis.
In Virginia, the house of delegates and senate have each passed a legal sales bill that they intend to present to the opposite chamber. We’ll talk about what this means and what investors need to know.
On Tuesday, the Maryland Senate passed a bill designed to protect gun rights for medical marijuana users under state law. If it goes into action, cardholders for medical cannabis will be able to buy, own and carry firearms under state law. It’s currently restricted federally and in many other states. More on how that might impact the industry when you tune in.
Dan S. Ahrens, Managing Director & Chief Operating Officer of AdvisorShares ETFs joins us to share some market insights. Catch all this and more.
