Here's Why Aurora Cannabis Dropped Over 7% Today

Howard Smith, The Motley Fool
·2-min read
Here's Why Aurora Cannabis Dropped Over 7% Today

Shares of Canadian cannabis grower Aurora Cannabis (NYSE: ACB) dropped today after the company announced a new share offering. Aurora announced that it will be issuing 12 million new shares, plus additional warrants to purchase shares. Aurora will use the $125 million in proceeds "for general corporate purposes, which may include opportunistically reducing debt."