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Aurora Cannabis Files to List on This Exchange

The company previously announced it would list on a major U.S. exchange this month, giving the stock a boost in trading.

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Aurora Cannabis (TSX: ACB) (OTC: ACBFF) filed a Form 40-F yesterday, saying it will list on NYSE. It could be just a week or two before it lists there. The announcement isn’t a huge surprise though. We reported Aurora Cannabis Inc., now trading on the TSX in Canada under the ticker ACB-TO, was set to list on a major United States stock exchange by mid-October.

So what does that mean for the stock?

U.S. listings mean higher multiples

Usually, stock prices get a boost from being on the U.S. exchanges. Canopy Growth Corp. (NYSE:CGC). (TSE:WEED) and Tilray Inc. (NASDAQ:TLRY) trade at higher multiples on their U.S. listings.

Greases the wheels for growth

The move may give Aurora access to capital for future offerings, to fund expansions or acquisitions. But the company’s business hasn’t otherwise changed.

The listing will probably be good for Aurora shares in the short term. This was already the case in Friday trading.

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