ACB Stock Price: Aurora Cannabis Inc. remains locked within a tight range
|- ACB gyrates around the 0.72 level in pre-market hours.
- US markets show small gains ahead of the opening bell.
Aurora Cannabis Inc. (ACB) is inching higher at the end of the week, keeping business amidst a narrow range and looking to reverse the last couple of negative sessions.
Prices of the Canadian-based company are trading in line with futures of the S&P500 and the DowJones, mildly up during the pre-market activity, as investors await further positive corporate earnings results. In addition, investors have already digested recent poor results from Initial Claims, while concerns around the coronavirus fallout and its impact on the economy looks somewhat subsided. The sentiment is bolstered further by the (kind of) better mood in crude oil as of late.
Back to ACB, plans of the cannabis-company including a reduction of its balance sheet, increasing production capacity and implementing large layoffs continue to be practically ignored by markets.
Aurora Cannabis Stock Price
At the moment (pre-market), ACB is gaining 0.18% at 0.7192 and a surpass of 0.9296 (monthly high Apr.6) would expose 1.1135 (55-day SMA) and finally 1.13 (weekly high Mar.27). On the other hand, the next contention emerges at 0.6550 (monthly low Apr.17) seconded by 0.60 (2020 low Mar.19) and then 0.34 (monthly low Aug.2016).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.