While it was a brutal year for cannabis investors, Benzinga readers couldn't get enough of the still-growing sector. Of Benzinga's 10 most-read stories of the year, nine of them were focused on the cannabis space.
Aurora Cannabis Inc (NYSE: ACB) in particular was the main subject of seven of those stories. Aurora shares dropped 60% this year.
Here are Benzinga's 10 most-read news stories of the year:
Aurora announced a $250-million private placement of convertible senior notes due in 2024. The deal would also include the option for the buyers to purchase an additional $37.5 million in notes.
One of the top performers of the decade was the iPhone maker. $100 worth of Apple Inc. (NASDAQ: AAPL) stock in 2010 would be worth more than $1,110 today.
GLJ Research analyst Gordon Johnson initiated coverage of Aurora Cannabis with a Sell rating and zero price target.
Seaport Global initiated coverage on a dozen names early in the year. Some of the most popular U.S. cannabis stocks were not among the firm’s top picks.
A look at ACB's technical picture in the second quarter of 2019.
Aurora announced in April that it would acquire the remaining interest in the provider of hemp-based foods, hemp fiber and hemp nutraceuticals. It closed the acquisition at a valuation of around CA$63.4 million ($47.4 million).
Christopher Carey said Hexo is Bank of America’s top cannabis stock pick thanks to its compelling market positioning.
8. "Cowen: Aurora Is 'Top Pick In Cannabis'" June 24
While a number of Canadian cannabis producers are positioned to take advantage of a global boom in demand, Cowen analyst Vivien Azer said Aurora is the only one of the top growers that is also on track to become profitable in the near-term (we'll see if that comes to fruition).
Aurora sold all of its remaining shares of The Green Organic Dutchman Holdings. "When we acquired Whistler Medical Marijuana Corporation – an iconic and premium organic cannabis producer – our interest in TGOD became less important to our core strategy," CEO Terry Booth said at the time.
Aurora got off to a rough start after the company issued below-consensus revenue guidance for the fiscal second quarter.
Benzinga Cannabis Capital Conference Heads To Miami Beach, Detroit, Toronto
The Benzinga Cannabis Capital Conference heads to Miami Beach, Florida Feb. 24-25, followed by a conference March 20 in Detroit and June 1-2 in Toronto.