Opinions
Prakash Hariharan
Aurora Cannabis
ACB-T
COMMENT
May 17, 2018
$7.200
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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One of the leaders of the pack. Bubbly impression in terms of valuations as it is trading in multiples of potential sales and earnings. Institutional investors are staying out. He thinks there is going to be a shakeout in the whole space. Valuations could change very dramatically. Positive working capital. $40 million in sales. Could be one of the big “tobacco” companies in the future.