Weed stocks are tanking as Aurora Cannabis debuts on the New York Stock Exchange (TLRY, CRON, CGC)

pulse

October 23, 2018 2:02 PM

Aurora Cannabis on Tuesday is set make its trading debut on the New York Stock Exchange. Shares will trade under the ticker "ACB."

Tilray
,
Canopy Growth
, and
Cronos
,

Weed stocks were under pressure Tuesday morning as one of the largest cannabis producers, Aurora Cannabis, gets set to go public on the New York Stock Exhange.

Tilray, Canopy Growth, and Cronos, who already trade on US markets, were lower between 7% and 14% ahead of the opening bell. Before Tuesday, Aurora was trading solely on the Toronto Stock Exchange.

That includes the recent sell-off that has taken hold ever since last week Wednesday, the day before marijuana was legalized in Canada. Aurora shares have plunged about 35% since putting in their record high that morning.

But investors say the drug's legalization in Canada is just the beginning.

Aurora shares will trade under the ticker "ACB."

Jeremy Berke contributed to this report.

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