The U.S.-listed shares of Aurora Cannabis Inc. (ACB.T) sank 9.2% in premarket trading, ahead of the cannabis company's post-earnings conference call scheduled for 9 a.m. Eastern. The company reported late Wednesday fiscal fourth-quarter revenue that missed expectations (ETFMG Alternative Harvest ETF (MJ) has slumped 20.8% and the S&P 500 has gained 4.2%.) that had already been lowered. Stifel Nicolaus analyst Andrew Carter reiterated his hold rating, saying he believed the stock will remain under pressure given expectations of a capital raise in the coming months. "We believe Aurora will have to come to the capital markets by calendar 1Q20 for a significant ask to fund the aggressive growth agenda," Carter wrote in a note to clients. He believes that is likely to weigh on investors sentiment. The stock has lost 16.3% over the past three months, while the
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
September 12, 2019 07:36 ET (11:36 GMT)
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