Stock Alert: Aurora Cannabis Surges 41% On Revenue Growth

(RTTNews) - Shares of Aurora Cannabis Inc. (ACB) are gaining more than 41 percent or $4.63 in Monday's morning trade at $15.83 after the company reported strong revenue growth in the third quarter. The stock has traded in a range of $5.30 to $105.48 in the past 52 weeks.

Friday, the Canada-based cannabis company said its net revenue for the third quarter, excluding provisions of $2.9 million, rose 18 percent from the prior quarter to $78.4 million. Consumer cannabis net revenue, excluding provisions, increased 24 percent from the prior quarter to $41.5 million, reflecting the launch of Daily Special, Aurora's value brand, and a full quarter of Cannabis 2.0 products. Medical cannabis net revenue, both Canadian and international, showed growth of 13.5 percent overall.

Michael Singer, Executive Chairman and Interim CEO of Aurora said, "I am also pleased that our third quarter 2020 financial results were in-line with our expectations, and that we remain firmly on track with the cost-savings and capex goals we detailed during our business transformation plan in February 2020."