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Altrice Investment Co. Limited – Cannabis Update – Aurora Cannabis Inc
Altrice Investment Co. Limited highlights the next cannabis related stock looking to benefit from Hemp production legalization in the US.
There are two kinds of companies that will benefit from the growth of the industry whichever direction that growth goes: producers and ancillary utilities. Marijuana will need to be cultivated, the cultivation process' efficiency will need to be improved. Below is our breakout company that fit this profile.
One cannabis producer in line to benefit from industry growth in most variances is Aurora Cannabis Inc. (ACB) (Market Cap: $7.93B, Share Price: $8.04).
The company has a production capacity of roughly 150,000 kilograms of cannabis per year. That number is expected to more than triple to 500,000 by mid-2020. Investors have been buoyed by the company's recent report of revenue rising to $29.9 million in the second quarter to Dec. 29, up 40% from the prior quarter. Proforma revenue, which includes revenue from pending acquisitions, came to $49.5 million.
Aurora Cannabis Inc. reports on the 11th February and we will gain an insight into their plans for Hemp in the US.
Notably, we can compare the recovery seen by Canopy Growth Corporation in early 2019 after they announced a contract to grow hemp in New York. Altrice expects Aurora to see a significant increase over the coming weeks.
Altrice Investment Co. Limited reiterates its STRONG BUY rating on Aurora Cannabis Inc.
"Our ambitions keep us ahead of our competitors, and our research, service and results keep our clients in a position of financial security."
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Altrice Investment Co. Limited