Aurora Cannabis (NYSE: ACB) is one of the best-known cannabis stocks being traded today. At one point it showed promise, as many cannabis stocks did, but now it’s in danger of becoming a penny stock. This is due to a number of factors, the least of which is the recent downturn of stocks in the cannabis industry as a whole.
Aurora’s stock has fallen under $1 per share, putting it in danger of being delisted by the NYSE. If it stays under $1 per share for 30 days, it will officially become a penny stock. The reason for this is because of massive debt and losses, as well as the possibility of future dilution.
Shareholders of Aurora would be well-advised to keep a close eye on the stock, and penny stock lovers might be interested in shorting ACB - as it appears anything volatile and but stable right now.