Wednesday, September 08, 2021 5:38:23 PM
Aurora Cannabis CEO gives conservative timeline for full U.S. marijuana legalization
Sep. 08, 2021 4:56 PM ET
Aurora Cannabis Inc. (ACB)
By: Brian Stewart, SA News Editor
CEO Miguel Martin of Aurora Cannabis (NASDAQ:ACB) laid out a conservative timeline for full U.S. legalization of marijuana on Wednesday, saying he expected federal approval for medical cannabis products first, with recreational use becoming allowed at least a year after that.
In an interview with CNBC, Martin said he was a "strong believer" that medical approval, along with recreational decriminalization, would represent the first stage in making cannabis products legal on the national level.
At that point, he expected the U.S. Food and Drug Administration to play a large role in the regulatory process.
From there, Martin predicted that it would likely take one or two years to achieve federal legalization of recreational marijuana use.
The CEO based his projections on the company's experiences in other parts of the world, including its home market in Canada, as well as places like Germany, Israel and France.
Martin said that Aurora (ACB) could benefit from this controlled rollout because the company has significant experience operating in heavily regulated markets.
Still, ACB dropped nearly 4% in Tuesday's trading, finishing the session at $6.89. Generally speaking, the stock has traded in a narrow range lately after some volatile action earlier in the year:
Recent CRLBF News
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 06/10/2024 12:18:21 PM
- U.S. Index Futures Flat Ahead of April CPI Data Release, Oil Prices Drop • IH Market News • 05/15/2024 11:50:05 AM
- Form CB/A - Tender Offer/Rights Offering Notification Form: [Amend] • Edgar (US Regulatory) • 05/08/2024 09:21:33 PM
ECGI Holdings Announces LOI to Acquire Pacific Saddlery to Capitalize on $12.72 Billion Market Potential • ECGI • Jun 13, 2024 9:50 AM
Fifty 1 Labs, Inc. Announces Major Strategic Advancements and Shareholder Updates • CAFI • Jun 13, 2024 8:45 AM
Snakes & Lattes Opens Pop-Up Location at The Wellington Market in Toronto: A New Destination for Fun and Games - Thanks 'The Well', PepsiCo, Indie Pale House & All Sponsors & Partners for Their Commitment & Assistance Throughout The Process • FUNN • Jun 13, 2024 8:18 AM
HealthLynked Introduces Innovative Online Medical Record Request Form Using DocuSign • HLYK • Jun 12, 2024 8:00 AM
Ubiquitech Software Corp (OTC:UBQU) Posts $624,585 Quarterly Revenue - Largest Quarter Since 2018 • UBQU • Jun 11, 2024 10:13 AM
Element79 Gold Corp Files for OTCQB Uplisting, Provides Financial Update • ELEM • Jun 11, 2024 9:25 AM