As of 12:24 p.m. ET, Aurora shares were still down 38.8%. At the same time, Tilray (NASDAQ: TLRY) shares were down 3.6%, and Hexo (NASDAQ: HEXO) stock was down 5.3%. The plunge in Aurora shares comes as existing shareholders react to a new round of financing that the company said will bring $150 million to the company.
As shown by the AdvisorShares Pure US Cannabis ETF's losses of more than 65% in the last 12 months alone, you can easily burn a fortune by investing it in a few of the most popular marijuana stocks. Between frequent mismatches of supply and demand and a stock market that's positively sour on high-risk growth assets like cannabis stocks, now is the time when underperforming companies are getting shaken out. Down by more than 96% in the last three years, Aurora Cannabis (NASDAQ: ACB) remains a great option for investors who like losing money.
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