Billionaire Investor Joins Aurora Cannabis as Advisor

12:27 03/15/2019

Aurora Cannabis ACB  is enjoying higher highs.


All after the billionaire activist investor Nelson Peltz joined the board as an advisor.  According to the company he’ll help the company explore potential partnerships.


“I believe Aurora has a solid execution track record, is strongly differentiated from its peers, has achieved integration throughout the value chain and is poised to go to the next level across a range of industry verticals,” Peltz said.  


“I also believe that Canadian licensed producers, and Aurora in particular, are well positioned to lead in the development of the international cannabis industry as regulations evolve, with a strong, globally replicable operating model. I look forward to working with Terry and the extended Aurora team to evaluate its many operational and strategic opportunities, including potential engagement with mature players in consumer and other market segments.”


This is a big deal for Aurora Cannabis considering the billionaire has a history of helping to reshape companies. He may even be able to help get Aurora into the packaged goods industry.


Analysts at GMP Securities like what they’re seeing, too.


In fact, they just upgraded the Aurora Cannabis stock from a hold to a buy rating in response to the latest news, arguing the billionaire could be “instrumental” in striking big deals.  GMP Securities believes this could be a $15 stock within a year.  


Analysts at Jefferies note that, 'Peltz's historical focus on profitability and efficient asset allocation' will prove valuable for the next stage of its growth, as quoted by Business Insider.


Even analysts at Cowen believe Peltz will bring great value to the cannabis producer.


The news was big enough to send shares of ACB from $7.50 to $9.42 in recent days.

This article has been provided by a Chasing Markets contributor. All content submitted by this author represent their personal opinions, and should be considered as such for entertainment purpose only. All opinions expressed are those of the writer, and may not necessarily represent fact, opinions, or bias of Chasing Markets.
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