Aurora Cannabis Stock Has Soared 25% Since Curaleaf First Made an Offer to Buy Its Business. Here’s Why I Think It Can Go Even Higher
There’s nothing quite like talk of an acquisition that can send a stock soaring quickly. Aurora Cannabis (NASDAQ:ACB) stock has been flying recently, as it has benefited from the takeover attempt that Curaleaf Holdings (OTC:CURLF) launched a few months ago.
In August, Curaleaf announced plans for a hostile takeover of Aurora, after expressing frustration with efforts to pursue a deal privately. Curaleaf is a large multistate operator and one of the largest cannabis companies in the U.S. market, while Aurora is a Canadian-based cannabis company with a growing presence internationally, which is the key attraction for Curaleaf.
Recently, Curaleaf raised its offer for Aurora, in the hopes of swaying shareholders. As a result of the recent offers, Aurora’s stock has taken off, rising by around 25% since Curaleaf first announced plans to make a bid. Can it still rise higher, and is now a good time to buy Aurora’s stock?
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