Canadian pot stocks such as Aurora Cannabis (TSX:ACB) and Canopy Growth (TSX:WEED) have trailed the broader markets by a wide margin after marijuana was legalized in the country in late 2018. In fact, both marijuana stocks are down 99% below record levels, burning massive investor wealth.
Canadian licensed cannabis producers have wrestled with a slew of industry-wide headwinds that include cannibalization from illegal sales, rising competition, and overvalued acquisitions, all of which resulted in an oversupply of pot products, high inventory levels, and widening losses.
Let’s see if Aurora Cannabis and Canopy Growth can finally stage a turnaround by the end of 2024.
Is Aurora Cannabis a good buy today?
Valued at $424 million by market cap, Aurora Cannabis reported revenue of $83.4 million in the fiscal first quarter (Q1) of 2025 (ended June), an increase of 12% year over year. Aurora Cannabis attributed its top-line growth to…
