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published in Blogs
Jun 23, 2020

Aurora Cannabis (ACB, $13.73) to layoff 700 workers, close 5 facilities, and take $60 million charge

Aurora Cannabis announced that it was retrenching about 700 employees, and closing five production facilities. It is also taking a $60 million charge for the quarter ending June 30.

The layoffs include  an approximate 25% reduction in Aurora's SG&A [selling, general and administrative] staff, most with immediate effect, and an approximate 30% reduction in production staff over the next two quarters, according to the cannabis company’s statement.

Aurora plans to shutter operations at five facilities over the next two quarters ,in order to orient itself more towards production and manufacturing at the company's “larger scale and highly efficient sites”, as indicated in the company’s statement.

The company expects to record production asset impairment charges of up to $60 million for Q4 2020. It also expects to record a charge of up to $140 million in the carrying value of certain inventory.

Tickeron's AI-powered scorecard rates Aurora Cannabis a STRONG SELL.

ACB enters a Downtrend because Momentum Indicator dropped below the 0 level on June 05, 2020

This indicator signals that ACB's price has further to drop, since it moved below its price 14 days ago. Traders may consider selling the ticker, shorting the ticker, or exploring put options. In 72 of 84 cases where ACB's Momentum Indicator fell below the 0 level, its price fell further within the subsequent month. The odds of a continued Downtrend are 86%.

Current price $13.65 crossed the support line at $13.19 and is trading between $14.63 resistance and $13.19 support lines. Throughout the month of 05/20/20 - 06/22/20, the price experienced a +8% Uptrend. During the week of 06/15/20 - 06/22/20, the stock enjoyed a +4% Uptrend growth.

Technical Analysis (Indicators)

Bearish Trend Analysis

The RSI Indicator appears to be shifting from an Uptrend to a Downtrend. In 24 of 40 cases where ACB's RSI indicator exited the overbought zone, the price fell further within the following month. The odds of a continued Downtrend are 60%.

The Moving Average Convergence Divergence (MACD) crossed below the signal line. In 34 of 42 cases where ACB's MACD histogram became negative, the price fell further within the following month. The odds of a continued Downtrend are 81%.

Bullish Trend Analysis

The Stochastic Indicator shows that the ticker has stayed in the oversold zone for 7 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an uptrend is expected.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where ACB advanced for three days, in 219 of 266 cases, the price rose further within the following month. The odds of a continued Uptrend are 82%.

The lower Bollinger Band was broken -- a price increase is expected as the ticker heads toward the middle band, which indicates a buy or call consideration for traders. In 33 of 39 cases where ACB's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued Uptrend are 85%.

Fundamental Analysis (Ratings)

Tickeron has a positive outlook on this ticker and predicts a further increase by more than 4.00% within the next month with a likelihood of 59%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.69.

The Tickeron PE Growth Rating for this company is 99 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron SMR rating for this company is 99 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Valuation Rating of 94 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.55) is normal, around the industry mean (0.93). P/E Ratio (0.00) is within average values for comparable stocks, (29.45). Projected Growth (PEG Ratio) (0.00) is also within normal values, averaging (115.92). Dividend Yield (0.00) settles around the average of (1.00) among similar stocks. P/S Ratio (4.63) is also within normal values, averaging (10.69).

The Tickeron Profit vs. Risk Rating rating for this company is 93 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. ACB’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 90, placing this stock worse than average.

The Tickeron Price Growth Rating for this company is 63 (best 1 - 100 worst), indicating fairly steady price growth. ACB’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.

Related Ticker: ACB

Momentum Indicator for ACB turns negative, indicating new downward trend

ACB saw its Momentum Indicator move below the 0 level on February 20, 2024. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 88 similar instances where the indicator turned negative. In of the 88 cases, the stock moved further down in the following days. The odds of a decline are at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The Moving Average Convergence Divergence Histogram (MACD) for ACB turned negative on February 20, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 44 similar instances when the indicator turned negative. In of the 44 cases the stock turned lower in the days that followed. This puts the odds of success at .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where ACB declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

The Aroon Indicator for ACB entered a downward trend on February 23, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Bullish Trend Analysis

The RSI Indicator demonstrates that the ticker has stayed in the oversold zone for 2 days, which means it's wise to expect a price bounce in the near future.

The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 8 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where ACB advanced for three days, in of 210 cases, the price rose further within the following month. The odds of a continued upward trend are .

ACB may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.454) is normal, around the industry mean (49.373). P/E Ratio (0.000) is within average values for comparable stocks, (90.597). ACB's Projected Growth (PEG Ratio) (0.000) is slightly lower than the industry average of (2.690). ACB has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.027). P/S Ratio (1.109) is also within normal values, averaging (66.395).

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating slightly worse than average price growth. ACB’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. ACB’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 91, placing this stock worse than average.

Notable companies

The most notable companies in this group are ZOETIS (NYSE:ZTS), Teva Pharmaceutical Industries Limited (NYSE:TEVA), Elanco Animal Health (NYSE:ELAN), Intra-Cellular Therapies (NASDAQ:ITCI), Bausch Health Companies (NYSE:BHC), Tilray Brands (NASDAQ:TLRY), Avadel Pharmaceuticals plc (NASDAQ:AVDL), Canopy Growth Corp (NASDAQ:CGC), Aurora Cannabis (NASDAQ:ACB), Journey Medical Corp (NASDAQ:DERM).

Industry description

Pharmaceuticals (Other) comprise companies that are involved in the discovery, development or manufacturing of therapeutic and preventative medicines. They often collaborate with or acquire other pharmaceutical/healthcare firms. Examples of companies in this segment include Bausch Health Companies Inc., Icon Plc and Perrigo Company Plc.

Market Cap

The average market capitalization across the Pharmaceuticals: Other Industry is 2.97B. The market cap for tickers in the group ranges from 246 to 87.37B. ZTS holds the highest valuation in this group at 87.37B. The lowest valued company is PEMTF at 246.

High and low price notable news

The average weekly price growth across all stocks in the Pharmaceuticals: Other Industry was 0%. For the same Industry, the average monthly price growth was 5%, and the average quarterly price growth was 10%. KOAN experienced the highest price growth at 151%, while INNPF experienced the biggest fall at -99%.

Volume

The average weekly volume growth across all stocks in the Pharmaceuticals: Other Industry was 17%. For the same stocks of the Industry, the average monthly volume growth was -23% and the average quarterly volume growth was 11%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 54
P/E Growth Rating: 69
Price Growth Rating: 61
SMR Rating: 83
Profit Risk Rating: 91
Seasonality Score: 0 (-100 ... +100)
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A.I.Advisor
published price charts
A.I. Advisor
published General Information

General Information

a licensed producer of medical marijuana in Canada

Industry PharmaceuticalsOther

Profile
Fundamentals
Details
Industry
Pharmaceuticals Other
Address
3498 63 Avenue
Phone
+1 855 279-4652
Employees
1130
Web
https://www.auroramj.com
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ACB and

Correlation & Price change

A.I.dvisor indicates that over the last year, ACB has been closely correlated with CGC. These tickers have moved in lockstep 70% of the time. This A.I.-generated data suggests there is a high statistical probability that if ACB jumps, then CGC could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To ACB
1D Price
Change %
ACB100%
+0.96%
CGC - ACB
70%
Closely correlated
-2.43%
SNDL - ACB
65%
Loosely correlated
+2.22%
CRON - ACB
50%
Loosely correlated
-2.88%
OGI - ACB
49%
Loosely correlated
+4.35%
TLRY - ACB
46%
Loosely correlated
N/A
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