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However, medicinal cannabis company Aurora Cannabis Inc.’s (ACB), which is based in Calgary, Canada, has not benefited from the favorable industry trends. In its last reported quarter, the company’s total net revenue decreased 11.1% year-over-year to CAD60.11 million ($47.54 million). The stock has declined 34.6% in price over the past six months and 38% over the past year. Furthermore, the stock’s average price target of $6.31 represents a potential 4% decline from its $6.57 last closing price. Therefore, we think ACB may not be the right choice to cash in on the industry tailwinds.
Instead, pot stocks Curaleaf Holdings, Inc. (OTC:CURLF), Tilray, Inc. (TLRY), and HEXO Corp. (HEXO), which possess strong fundamentals, could be ideal bets to capitalize on industry trends. Wall Street analysts expect these stocks to deliver solid returns in the coming months.
