Aurora Cannabis Gets High on Its Own Stash

By Anonymous

The reason for the marijuana company’s stock surge Tuesday is less than solid

Shares of Canadian marijuana producer Aurora Cannabis were 5% higher midday Tuesday after it reported a sharp swing to profitability and said it is planning a U.S. listing. But a closer look at its results suggests reasons for caution.

Marijuana will become legal for recreational use next month in Canada. This means big opportunities for companies like Aurora, which already is growing quickly. Revenue more than tripled from a year earlier in its most recent fiscal quarter.