Aurora Cannabis is plunging ahead of its debut on the New York Stock Exchange - Finance

Aurora Cannabis is plunging ahead of its debut on the New York Stock Exchange – Finance

Aurora Cannabis on Monday, more than 10%, one day ahead debut on the new york stock exchange,

The Canadian manufacturer, which grows cannabis for both the adult and the drug market, has seen that since August its market capitalization has exploded by more than 150% – to almost $ 10 billion. The United States, since both corporate giants and investors fell into a green rush “in marijuana.

August 15, beverage producer Constellation Brands announced that it was invests $ 4 billion in growth Aurora Canopy Growth, arousing a wave of interest in space.

A month later, Bloomberg reported that Aurora negotiated with Coca-Cola about the development of drinks filled with CBD, one of the non-psychoactive compounds found in cannabis. No deal has been announced.

“Aurora showed a special interest in the space filled with drink, and we intend to enter this market,” said a representative of Aurora at that time, Business Insider.

“There is so much in this area now, and we believe that it has an incredible potential. As a rule, we do not discuss business development initiatives until they are completed, but we are responsible to our shareholders for proper consideration of all relevant opportunities presented. ”

And last week, Canada became the second country in the world to legalize marijuana, but it did not have the impact that investors had hoped for. Cannabis shares slammed when traders sold news,

But investors are still optimistic that the legalization of Canada is the beginning of a new era for investors.

“We believe that legalization in Canada offers a“ roadmap ”for investments in companies that will form the basis of the legitimate cannabis industry in the coming years,” said John Trauben, managing partner of Altitude Investment Management, focused on cannabis.

Aurora Cannabis will trade under the ticker "ACB", starting on Tuesday.

Jeremy Burke contributed to this report.

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