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Why Aurora Cannabis, Canopy Growth, and Tilray Stock Tumbled Today

Rich Smith, The Motley Fool
·2 min read
Why Aurora Cannabis, Canopy Growth, and Tilray Stock Tumbled Today

As of 11:05 a.m. EDT, shares of Canopy Growth (NASDAQ: CGC) have fallen 5.8%, Tilray (NASDAQ: TLRY) is down 6%, and Aurora Cannabis (NASDAQ: ACB) is bringing up the rear with a 6.3% decline. The past several days have seen a series of cuts to marijuana stock price targets among Wall Street analysts, you see, in advance of Aurora Cannabis' upcoming fiscal fourth-quarter 2021 earnings report (due out tomorrow). The bad news began back on Thursday, when Roth Capital cut its price target on Tilray in half, to $12 a share, commenting that management's sales projections for fiscal 2024 were too "hopeful" to be true.

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