Canada’s Aurora Cannabis Aims to List on U.S. Stock Exchange Next Month

Canada’s federal adult-use hashish regulation hasn’t even gone into impact but. But already the yr has been an enormous one for the nation’s hashish corporations. Cannabis legalization doesn’t simply imply entry to a beforehand prohibited retail area; it additionally means entry to monetary devices and inventory exchanges. Furthermore, federal legalization means Canadian hashish corporations can go public not solely on home exchanges, however on U.S. exchanges as nicely. The Canadian hashish corporations Tilray and Canopy Growth Corp. have each listed on U.S. exchanges. And, this week, Canadian hashish big Aurora Cannabis introduced its plans to be a part of the ranks of main corporations itemizing on a serious U.S. change.

Aurora Cannabis Seeks Out U.S. Investors With Plans for October Listing

In an interview with the Financial Post on Tuesday, Aurora Cannabis CCO Cam Battley stated the corporate goals to set up a U.S. itemizing of its shares in October. Battley didn’t specify on which trade, Nasdaq or the NYSE, Aurora plans to record. Shares of the corporate presently commerce on the Toronto Stock Exchange (TSX).

Whichever U.S. trade Aurora chooses, the transfer is clearly designed to appeal to U.S. buyers to the corporate. Aurora lately made a collection of high-profile acquisitions, and is wanting to increase capital for brand spanking new operations. More info on the corporate’s particular itemizing technique will probably be forthcoming after Aurora releases its Q3 earnings.

News of Aurora’s U.S. Exchange Listing Broke Trading on Robinhood App

News of Aurora Cannabis’ plans to record on a U.S. trade in October sparked a surge of purchase orders for ACBFF, an over-the-counter market ticker via which U.S. buyers should buy Canadian inventory on the TSX. Order quantity was so excessive, actually, that the favored fee-free buying and selling app Robinhood had to droop any new shopping for of Aurora Cannabis in the present day, Business Insider studies.

Robinhood hasn’t stated a lot concerning the suspension, besides that purchase orders exceeded the capability of execution venues to full them. In different phrases, orders to purchase ACBFF broke Robinhood, on which Aurora is the sixteenth hottest inventory. According to Robinhood’s web site, over 81,000 buyers maintain Aurora shares with the brokerage. Other main hashish corporations, together with Tilray, are additionally on Robinhood. But solely Aurora is experiencing points with commerce quantity.

Possible Coca-Cola Partnership Bumps Aurora Stock Price

Financial regulators additionally briefly suspended buying and selling of Aurora shares on the TSX this week. The temporary maintain got here because the Investment Industry Regulatory Organization of Canada investigated reviews of a attainable partnership between Coca-Cola and Aurora. The talks reportedly addressed the potential for launching a CBD-infused beverage.

Aurora acknowledges holding “exploratory discussions” with Coca-Cola. But the corporate says there’s no settlement or association of any type with the beverage firm. Still, information that there could possibly be despatched Aurora’s inventory’s skyward on Monday with a 20 % worth bump. Over the previous yr, Aurora’s share worth has elevated greater than 300 %.





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