Stock surges and setbacks for the week ending Nov. 27
|Toronto Star 30 Nov 2020 at 07:07|
The entire cannabis sector has been on a high since the U.S. election, and even a struggling company like Aurora has been no exception. Five states legalized pot in this election, making it a boon for licensed producers such as Aurora. Still, despite this week’s rise, Aurora’s shares are down more than 60 per cent on the year. The money-losing company has consolidated production, cut employees and issued new equity to try and bolster its finances. This week, Aurora announced that it had provided European-grown medical cannabis to the German market for the first time.
Bombardier Inc. (BBD.B) +23.8%
After the ignominy of reaching penny stock status earlier this year as markets crashed following the onset of the COVID-19 pandemic, Bombardier stock has begun to soa ... No. Not exactly soar. But it has come off rock bottom. Last week, shares of the Quebec-based transportation manufacturer rose as markets lifted the transport sector as a whole in the wake of more good news about the race to develop COVID vaccines. Those vaccines would be a major step in the revival of the global travel market, which could help lift sales of Bombardier’s business jets.