While licensed North American cannabis stocks continue to under perform nearly a year on from Canadian legalization, companies like Aurora Cannabis Inc. (NYSE: ACB; TSX: ACB) are seeking new ways to regain investor confidence.
This week the company launched the Aurora Insider blog, which provides regular updates to shareholders on operations, funding, and research.
The latest update from that new shareholder outreach platform included news on Aurora’s ongoing facility construction operations. In addition to the company’s flagship sites that are already up and running, these locations are now nearing completion:
- Aurora Sun – Medicine Hat, 1.6 million sq. ft. Indoor construction nearly finished
- Nordic Sky – Denmark, 1 million sq. ft. Outdoor construction nearly finished
- Aurora Polaris – Edmonton, expected to be staffed in early November for edible and vape products
- Whistler Pemberton – British Columbia, four rooms operational, 11 more to be finished by year’s end
- Anandia Laboratories – Vancouver, laboratory testing and office space expected to open this year
- Cannabis Innovation Center – Comox, 32,500 sq. ft. Due for completion by December of 2019
After announcing the launch of the blog and referencing the end of several phases of construction, Chief Executive Officer Terry Booth commented:
The cannabis industry overall has experienced an extremely rocky few months, with CannTrust losing its licenses to grow and sell after a Health Canada review and most companies across the board continuing to see a sharp drop in stock price.
Aurora’s stock is currently trading at $4.36 this morning and has seen a consistent decline over the previous 30 days. That price is less than half of the high of $11.68 last year just as the Cannabis Act went into effect, and far down from the late March 2019 price of $9.94 before quarterly financial reports were released.
Like many major licensed producers, Aurora is hoping to see increased numbers as value-added products such as edibles, vapes, and infused beverages begin to hit shelves later this year following final regulations handed down from Health Canada.