Jim Cramer thinks that Aurora Cannabis is an undervalued company. 

He said that Real Money's Stock of the Day Aurora Cannabis's addition of Nelson Peltz as an adviser is a positive sign for the company. 

"This is the endorsement that Aurora needs to put it in the big time," says Jim Cramer. 

Aurora has a market cap of $8 billion. Cramer said that the fiscal estimate for 2019 is $232 million, which is more than the fiscal estimates for Tilray (TLRY) or Cronos (CRON) and Canopy Growth (CGC) .

However, Aurora's valuation shies in comparison to Canopy Growth's due to Constellation's investment in the company. 

Cramer said that, when looking at the numbers, Aurora is undervalued when compared to the other cannabis companies.

Related. Aurora Cannabis Stock Burns Higher After Adding Billionaire Advisor Peltz

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