Aurora Cannabis News: 11 Things to Know About ACB Stock Today

Aurora Cannabis (NYSE:ACB) is taking off on Thursday despite no new news from the company as election results continue to pour in.

Aurora Cannabis (ACB) logo on a web page

Source: Jarretera / Shutterstock.com

Here’s what investors in ACB stock need to know about the Aurora Cannabis news.

  • Presidential candidate Joe Biden has pulled ahead of sitting President Donald Trump in the 2020 elections.
  • That’s good for pot stocks, such as ACB, as Biden’s campaign has been pushing to decriminalize marijuana use at a federal level.
  • On the other hand, President Trump’s campaign hasn’t given much focus to decriminalizing the drug.
  • This is the same reason that many cannabis stocks were falling yesterday as Trump appeared to be in the lead.
  • An expectation to that rule was GW Pharmaceuticals (NASDAQ:GWPH), which was up on strong Q3 earnings results.
  • However, that doesn’t mean the current election results are all good news for Aurora Cannabis and other pot stocks.
  • While Democrats were hoping to take over the Senate this year, it doesn’t look like that’s going to happen.
  • Republicans are currently ahead in the Senate race with 48 seats compared to Democrats’ 47 seats.
  • While Democrats will likely maintain control of the House, it will be difficult to pass new legislation if Republicans continue to hold the Senate.
  • That could spell trouble for lawmakers seeking to decriminalize marijuana in the U.S.
  • Investors will just have to wait until the elections are over for more solid news.

ACB stock was up 17.5% as of Thursday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2020/11/aurora-cannabis-news-boosts-acb-stock/.

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