Aurora Cannabis shares higher after Peltz comes aboard

Marijuana company hires billionaire snack food tycoon Nelson Peltz

Those events include the consummation of certain transactions and the closing price of Aurora's common shares being at least $31.02 and additionally $41.36 for a specified number of trading days. The Aurora deal gives Peltz the option to buy 19.96 million shares of the company at US$7.74. Peltz spoke about why he joined the Canadian marijuana business in a press release.

"I believe Aurora has a solid execution track record, is strongly differentiated from its peers, has achieved integration throughout the value chain and is poised to go to the next level", Peltz said in the statement.

Peltz, the CEO of hedge fund Trian Partners, may be a newcomer to the growing marijuana industry, but he's always been an investor in the munchies.

"I also believe that Canadian licensed producers, and Aurora in particular, are well positioned to lead in the development of the worldwide cannabis industry as regulations evolve, with a strong, globally replicable operating model", Peltz said in a statement. His track record as an activist investor can cause stocks to move on news of Trian's investment activities. Aurora chief executive officer, (CEO), Michael Singer, said he sees the expansion of the uses of cannabis. They presently have a C$14.00 target price on the stock.

"Trian has been involved with a number of CPG companies such as PepsiCo, Dr Pepper Snapple, Procter & Gamble, Kraft Foods, Heinz, Mondelez, among others". "We believe he could be instrumental in facilitating discussions with large CPG companies".

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TheStreet lowered shares of Aurora Cannabis (NYSE:ACB) from a c rating to a d+ rating in a research note issued to investors on Monday, February 25th. (ACI) sent the latter's stock surging almost 16 percent Wednesday.

"We look forward to working with Nelson to further extend our global cannabis industry leadership by aligning Aurora with each of the major market segments cannabis is set to impact".

Aurora, the second biggest cannabis producer by market value, has also been looking beyond recreational marijuana to drive sales, especially after the legalization of hemp, which was part of 2018 USA farm bill. Finally, Seaport Global Securities started coverage on shares of Aurora Cannabis in a report on Thursday, February 21st. CGC is the largest producer of medical marijuana in North America.

The budding weed business has become a big draw for the ultra-wealthy as states, and entire countries in the case of Canada, legalize usage. US tobacco companies have already invested there and big beverage companies are watching closely as the industry develops. Year-to-date, ACB has gained 75.00%, versus a 12.56% rise in the benchmark S&P 500 index during the same period.

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