- ACB trades on a soft note around 0.7400 on Thursday.
- US markets opened the session in the red territory.
Aurora Cannabis Inc. (ACB) is trading within a tight range in the 0.7400 region in the second half of the week, prolonging the negative price action seen in the last couple of sessions.
Prices of the Canadian-based company are tracking the bearish stance of both the S&P500 and the DowJones, dragged lower after another surge of week Claims showed unemployed Americans climbed to the 30 million mark so far.
Sticking to ACB, plans of the cannabis-company including a reduction of its balance sheet, increasing production capacity and implementing large layoffs continue to be practically ignored by market participants. It is worth recalling than ACB shed around 60% since its opening price in January and its balance sheet is the most fragile of the sector (to put it mildly).
Aurora Cannabis Stock Price
At the moment (pre-market), ACB is losing 1.15% at 0.7451 and faces the next support at 0.6550 (monthly low Apr.17) seconded by 0.60 (2020 low Mar.19) and then 0.34 (monthly low Aug.2016). On the other hand, a surpass of 0.9296 (monthly high Apr.6) would expose 0.9935 (55-day SMA) and finally 1.13 (weekly high Mar.27).