Aurora’s price continues to impress

610 0

The company has made some changes that are proving to be favorable to investors

Aurora Cannabis started 2019 strong and doesn’t show any signs of slowing down. It has made several key deals already this year, including partnerships that will see it grab more of a foothold in Europe through countries such as Germany and Portugal. To help push the company even further, it has announced the appointment of a new strategic adviser, and the announcement seemed to be appealing to investors.

Billionaire Nelson Peltz, a hedge fund leader and heavyweight of companies such as Proctor & Gamble and Wendy’s, is the new strategic adviser, as well as an investor, of Aurora. In his new role, he will help guide the company as it continues to expand across the globe, giving Aurora the ability to capitalize on Peltz’s extensive business experience and acumen.

Peltz is optimistic about the future of cannabis and Aurora, stating, “I … 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.”

After the news broke two days ago, Aurora’s stock shot up 15.5%, reaching as much as $9.20. It later settled to $8.80 and has since risen to $8.90.

Peltz is getting a lucrative arrangement out of the partnership. He will be given the option to purchase as many as 19.96 million shares at $7.74 each, which, if he accepts, will make him the second-largest owner of the company behind the Vanguard Group, which owns 20.3 million shares.