Why Aurora Cannabis Stock Dropped 10% This Morning
Canadian cannabis kingpin Aurora Cannabis (NYSE: ACB) closed its acquisition of Massachusetts-based cannabidiol (CBD) maker Reliva LLC last night in a $40 million deal (or more than twice that, if Reliva hits certain financial milestones over the next couple of years). Aurora Cannabis stock plunged more than 10% as soon as trading resumed this morning and hasn't gained back much since -- down 8.5% as of 12:15 p.m. EDT. Aurora interim CEO Michael Singer says the merger will "create a market leading international cannabinoid platform that we believe can deliver robust revenue and profitable growth."
