From the bottom, a stock can only go up – but has the trough been reached? A reverse split of 12:1 – essential for ACB to remain listed on NYSE – is one reflection of the fall. Another is just to look at the stock price – a crash of 90%.

However, the company reported an increase of 18% in sales for the quarter ending in March – Aurora's fiscal Q3.  The rise in income was accompanied by a slower burn rate for the pot company's cash, of around 43% year over year.

Prospects for the future also look better than beforehand. Aurora Cannabis aims to report a net profit before EBITDA already this year. It is also extending its cost-cutting exercise, by around $5 million per quarter amid office closures and layoffs.

Coronavirus has a substantial impact on the firm and it may now be reaching a positive equilibrium for the weed industry. Lockdowns have eased in Canada, Aurora's domestic market and also in the large, yet more restrictive American market. More freedom of movement allows consumers to purchase marijuana with more ease.

On the other hand, the virus is far from being beaten. Despite promising progress toward a COVID-19 vaccine, it will take time for immunization to become widespread and for the economy to recover. Users of recreational drugs may opt for conscience-easing substances to alleviate concerns about their finances.

The combination of easier access to weed and growing needs may propel the industry forward. Aurora's better financial position may allow it to recover, especially after its spectacular crash.

Aurora Cannabis Stock Price

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Aurora Cannabis Inc is edging up in Friday's pre-market trading, building on the 3.77% increase recorded on Thursday. Resistance awaits at $10.73, followed by $11.80 and $12.87, all recent peaks. Support is at the recent trough of $9.80, followed by the 52-week low of $5.30.