Aurora Cannabis Inc Addition to S&P TSX Composite Index Portends Industry Going Mainstream for Investors
Aurora Cannabis Inc (TSE:ACB) (OTCQB:ACBFF) (FRA:21P) keeps making headway with news today that the S&P/TSX Composite Index (INDEXTSI:OSPTX) was adding the company to the index effective Monday March 19. This move further raises the company’s investment and liquidity profile, which has been on the upswing due to surging sector interest over the past two years.
The S&P/TSX Composite Index inclusion should allow Aurora Cannabis to broaden its institutional investor base; specifically from weighted automatic purchases from index tracker derivatives. The S&P/TSX Composite Index consists of the largest Canadian companies by market capitalization and liquidity.
Obviously, this news is a huge achievement for Aurora Cannabis. Only 19 months ago, the company was a relatively obscure penny stock with a market capitalization and volume profile well below qualification standards for Composite Index listing. But with maturing sector growth and strong business execution, Aurora has transformed itself from a minnow in the shark tank to the shark itself. It now swims among the most recognizable names in the Canadian public sector.
Aurora Cannabis CEO Terry Booth quite proudly pointed the accomplishment out: “Inclusion in the index just over two years after commencing commercial operations is a reflection of our exceptional pace of growth and shareholder value creation, and a testament to the Aurora Standard, which represents excellence in execution and customer care.”
For more information on the S&P/TSX Composite Index—including a full breakdown of individual components—please visit: https://ca.spindices.com/indices/equity/sp-tsx-composite-index
Aurora Parts Ways With Director
It wasn’t all unicorns and manna from the heavens regarding Aurora Cannabis. The company announced that Director Joseph del Moral is leaving to pursue a non-cannabis related opportunity. Mr del Moral had previous joined Aurora in October 2016, after the company he was leading—CanvasRx—was acquired by Aurora Cannabis in a private acquisition. Mr. del Moral will continue to advise the company until such time that a replacement is brought aboard.
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