Aurora Cannabis Inc. (ACBFF) denied reports that it was in talks with a beverage company to produce cannabis-infused drinks. The stock was briefly halted Tuesday but resumed trading and at last check was up 4.7% to $8.04.
Aurora said earlier Tuesday it wouldn't comment on speculative news reports, but was pushed to comment by the Investment Industry Regulatory Organization of Canada. Reports said Aurora Cannabis was in talks with Coca-Cola Co. (KO) .
Coca-Cola confirmed Monday that it was eyeing the growth of the cannabidiol industry. CBD is a compound found in cannabis. Unlike the THC compound, it will not get the user high, but can help to treat pain and has been found to have medical properties.
"Along with many others in the beverage industry, we are closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world," according to a statement from Coke. "The space is evolving quickly. No decisions have been made at this time."