Pot Company Aurora Cannabis Sinks in Its NYSE Debut
Hope you like pot stocks, because another one, Aurora Cannabis Inc. (ACB) - Get Aurora Cannabis Inc. Report , has debuted on the New York Stock Exchange Tuesday, Oct. 23.
The stock was down 9% to $10.41 on Tuesday.
Since Aurora already trades on the Toronto Stock Exchange and is available over the counter, Tuesday's NYSE debut wasn't technically an initial public offering.
TheStreet Recommends
Tuesday may be a bad day for Aurora to debut, however, as the Dow Jones Industrial Average at midday dropped 463 points, the Nasdaq declined 183 points, and the S&P 500 fell 57 points.
The Edmonton-based company will be the fourth Canadian cannabis company to go public in the U.S., even though marijuana is still illegal in the majority of states.
Canopy Growth Corp. (CGC) - Get Canopy Growth Corporation Report , the largest public pot company by market capitalization, was the first-pure play Canadian cannabis company to list on the NYSE in January.
Cronos Group Inc. (CRON) - Get Cronos Group Inc Report was the first pot stock to list on the Nasdaq, followed by Tilray Inc. (TLRY) - Get Tilray Brands, Inc. Report , which debuted on the Nasdaq in July.
