What occurred

Canadian-licensed marijuana producer Aurora Cannabis (NYSE:ACB) had a month for the file books in November. The pot firm’s inventory rose by a whopping 188% over the course of the month, in response to knowledge from S&P Global Market Intelligence.

The spark? Aurora’s shares took flight for 2 causes:

  1. Joe Biden’s win in the 2020 presidential election might set the stage for main hashish reform in the United States.
  2. A landmark piece of laws often known as the Marijuana Opportunity Reinvestment and Expungement Act (MORE Act) was making its manner by way of the U.S. House of Representatives final month. Last Friday, the House handed this historic invoice that might successfully finish the federal prohibition on hashish.
A hand holding up marijuana leaves with an American flag in the background

Image supply: Getty Images.

So what

Prior to final month’s monstrous rally, Aurora’s shares had been down by an eye catching 62% over the previous 22 months. The pot magnate’s shares had been in free fall over this era on account of large oversupply in its residence market of Canada, sluggish worldwide gross sales, hefty goodwill impairment expenses, and most significantly, the issuance of new shares at a dizzying tempo in order to lift capital.

Investors, for his or her half, seem to suppose that these…

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  1. […] Why Aurora Cannabis Stock Rocketed Higher in November … What occurred Canadian-licensed marijuana producer Aurora Cannabis (NYSE:ACB) had a month for the file books in November. The pot firm’s inventory rose by a whopping 188% over the course of the month, in response to knowledge from S&P Global Market Intelligence. The spark? Aurora’s shares took flight for 2 causes: Joe Biden’s win in the […] […]