ACB and Coca-Cola
On September 17, BNN Bloomberg reported that Coca-Cola was in talks with Aurora Cannabis (ACB)(ACBFF) to develop a CBD-based (cannabidiol) recovery drink to ease pain, inflammation, and cramping. As a result of this report, the investment community saw a major company taking interest in the marijuana industry, which further underscores the seriousness of the cannabis sector.
Aurora Cannabis’s comments
On September 18, the IIROC (Investment Industry Regulatory Organization of Canada) suspended trading for Aurora Cannabis at 9:25 AM EDT, seeking a response to this speculation from the company.
Aurora Cannabis issued a statement that it doesn’t have an “agreement, understanding or arrangement with respect to any partnership with a beverage company.” However, the company added that “it engages in exploratory discussions with industry participants from time to time.”
Although this statement clarifies that there is no confirmed deal with Coca-Cola, the company doesn’t reject the Coca-Cola development. Aurora Cannabis stock resumed trading at 10:20 AM EDT.
The market (MJ) remained positive, with Aurora Cannabis (ACB)(ACBFF) stock gaining as much as 11.0% during the day. Among its peers, Tilray (TLRY) gained more than 28.0% on approval from US regulators that enabled the company to import its cannabis-based drug into the United States for clinical trials. Canopy Growth (CGC)(WEED) stock was up 6.8% on the day.
For additional information about Tilray, please read Why Tilray Cannabis Stock Popped Today.