Shares of Canada-based Aurora Cannabis Inc. ($ACB) jumped more than 2% on Tuesday, ahead of the cannabis producer’s third-quarter earnings, lifting retail sentiment.
Edmonton, Canada-based Aurora makes cannabis and cannabis-derived products sold under brands such as ‘Cannimed’, “Bidiol’ and ‘Being.’
Wall Street analysts expect Aurora to report earnings per share (EPS) of $0.08 on estimated revenues of $50.73 million.
Retail sentiment on the stock has inched lower compared to a day ago but remains ‘extremely bullish,’ with ‘high’ message volumes.
According to The Fly.com, Aurora was seeing ‘bullish’ option flow with 4,183 calls trading, 2.0x expected, and implied volume increasing over 32 points to 379.40%.
Earlier this week, BofA said broad-based tariffs were likely under a Trump win that will influence consumer stocks including cannabis stocks. According to the firm, a broad cannabis reform is likely with relaxed regulatory standards. Several cannabis-focused companies stand to benefit from this including Aurora, CV Sciences ($CVSI), and Truelieve Cannabis (TCNNF).
Many Stocktwits users were upbeat about the company’s stock even with the regulatory uncertainty related to the election outcomes.
Aurora stock is up 28.74% year-to-date.
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