Aurora Cannabis share price up 11% after hiring Nelson Peltz
The marijuana company's stock soars after adding activist investor Nelson Peltz.
Aurora Cannabis share price jumped after hiring activist investor Nelson Peltz. The marijuana company tapped Peltz to be an advisor.
Why did Aurora Cannabis hire Nelson Peltz?
The company hired Peltz as a strategic advisor as the corporation grows. Peltz is an expert investor who takes active investments in companies he views as undervalued. Aurora added him to change management and to help the corporation expand globally as the cannabis industry is become more mainstream. 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 across a range of industry verticals,’ said Peltz.
‘I also believe that Canadian licensed producers, and Aurora in particular, are well positioned to lead in the development of the international cannabis industry as regulations evolve, with a strong, globally replicable operating model,’ added Peltz.
What’s next for Aurora Cannabis share price?
Aurora has seen growth as it bought shares of Whistler Medical Marijuana from competitor Cronos. Aurora chief executive officer, (CEO), Michael Singer, said he sees the expansion of the uses of cannabis.
‘We see a number of potential of growth areas, certainly consumer packaged goods. The beverage industry, cosmetics, wellness; we see pharmaceuticals now starting to show interest in our space. There are a number of what we call market segments that we expect to operate in with one or many of these potential partners,’ said Singer.
Peltz will likely greatly help Aurora Cannabis expand its reach to serve a variety of customers.
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