Opinions
Elliott Fishman
Aurora Cannabis
ACB-T
HOLD
May 10, 2018
$7.960
Stock price when the opinion was issued
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DON'T BUY
He feels all cannabis stocks are gambling stocks. A maturing debenture is expected to keep downward pressure on the share price. There is no assurance that any existing company will be a survivor -- it is simply too early. No one is making money in this space. Without being able to predict revenues and expenses, it is too risky. He would stay away from these.
BUY
They each have their own strengths. He would pick Canopy (WEED-T) because they are the 800 lb gorilla. Aurora has lots of news about balance sheet challenges but they have low costs that he thinks will still come down further.
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These stocks have moved so much so quickly to the point that everything has to work out perfectly for them to go back to the levels they have been. The pullback of late has to do with the no announcement of the Government in terms of when it is going to be legalized. He is afraid of stocks like these. Depending on the reasons you bought it in the first place he would hold here.