Why Aurora Cannabis, Canopy, and Sundial Stocks Popped on Friday

Canadian cannabis company Aurora Cannabis (NASDAQ: ACB) reported its fiscal third-quarter 2022 earnings last night, and in so doing, sparked a rally across the cannabis sector today. As of 1 p.m. ET, shares of Aurora Cannabis itself are already up 13%, and peer producers Canopy Growth (NASDAQ: CGC) and Sundial Growers (NASDAQ: SNDL) are benefiting as well -- up 8.5% and 5.9%, respectively. Heading into Q3, analysts had forecast that Aurora Cannabis would lose $0.19 per share (0.25 Canadian dollars, and furthermore, this was a pro forma prediction) on sales of $41.5 million -- about CA$53.7 million.