Shares of Aurora Cannabis Inc. ACB, +4.66% ACB, +4.29% shot up 5.6% in morning trade Tuesday, to bounce off a two-month low ahead of the Canada-based cannabis company’s fiscal third-quarter results due out after the close. The stock has lost 9.7% over the previous five sessions, while the ETFMG Alternative Harvest ETF MJ, +2.98% has shed 8.4%. After fiscal second-quarter results, in which Aurora swung to a wider-than-expected loss despite greater-than-forecast growth in revenue, the stock fell as much as 7.1% intraday before recovering to close unchanged. The company is expected to report a loss of 5 cents Canadian per share, after a loss of 4 cents a year ago, while revenue is expected to increased 4-fold to C$67.5 million ($50.1 million). Aurora’s stock has lost 6.7% so far this month, while the Alternative Harvest ETF has lost 6.1% and the S&P 500SPX, +1.26% has shed 3.7%.
Aurora Cannabis Inc. shares were trading at $8.39 per share on Tuesday morning, up $0.37 (+4.61%). Year-to-date, ACB has gained 69.15%, versus a 14.32% rise in the benchmark S&P 500 index during the same period.
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