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Aurora Cannabis (ACB) - Get Aurora Cannabis Inc. Report has had a roller coaster week, with the stock getting a boost from a coverage initiation at Cowen and then falling, along with the rest of the cannabis sector, after the announcement of the pending resignation of U.S. Food and Drug Administration head Scott Gottlieb

Gottlieb's departure leaves the fate of CBD products in doubt until a new commissioner is found for the regulatory agency. Aurora shares fell 2.6% Wednesday, the first full day of trading since the Gottlieb news broke, while the ETFMG Alternative Harvest ETF (MJ) - Get ETFMG Alternative Harvest ETF Report declined 1.64%. 

In December, Gottlieb signed the Agriculture Improvement Act, which removed hemp from the Controlled Substances Act, paving the way for CBD products derived from hemp to be sold legally. The signing at the time marked an important step for legalized marijuana in the U.S. 

Now the future of cannabis rests in the hands of Gottlieb's unknown replacement. 

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Despite the near-term market headwinds, Aurora's fundamentals are strong, according to Cowen analyst Vivien Azer, who made Aurora her firm's top cannabis pick based on its current market share advantage in Canada as well as its industry-leading presence in 23 international markets. 

"ACB is well positioned to benefit in the early innings of the Canadian adult use market, given its impressive 20% market share to date and #2 position by in-stock (stock keeping units), based on our analysis," Azer wrote. "In addition, the company's large cultivation footprint, capable of producing over 575,000 kg, provides ACB with the necessary infrastructure to weather early storms in adult use while continuing to grow higher-value revenues in the medical market."

Aurora replaced Canopy Growth (CGC) - Get Canopy Growth Corporation Report as the firm's top pot stock, even though Canopy has a multi-billion dollar cash pile while Aurora will probably need another round of funding. 

Aurora shares are down nearly 3% Thursday. 

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