Last week, Aurora Cannabis Inc. (TSX:ACB) (NYSE:ACB) took a major step forward in the cannabis race. Already a leader of the pack, the company’s decision to open a retail outlet in West Edmonton Mall—North America’s largest shopping center—places it in an enviable position.
Not only is Aurora’s newest shop in a high-traffic area, at approximately 11,000 square feet, it is the biggest cannabis shop in the entire country. If investors weren’t paying attention to ACB before, they should be now.
“Aurora Cannabis isn’t profitable yet, but I believe they will be profitable in the next few quarters,” says Rich. “And when they are, watch out because that bad boy is going to blow.”
Aurora’s West Edmonton Location
According to a press release, the company’s newest retail shop is also now its flagship location.
The shop is designed to serve as both a brick-and-mortar cannabis dispensary and an “immersive experiential space.” Aurora hopes to encourage visitors from around the world to “explore unique products” and to engage with a rotating calendar of events.
Ultimately, the new location is designed to offer visitors a “safe, age-gated retail experience” in compliance with all federal and provincial regulations.
Aurora Cannabis CEO Terry Booth said:
“Aurora is proud to call Edmonton home. It’s here where we established our roots and built our business … This space is a reflection of Aurora’s core values, a celebration of our past, and cements our position as an innovative industry leader. We invite new and experienced consumers alike to come learn and explore.”
He adds that the location is a celebration of the industry’s potential as much as it is a celebration of Aurora’s growth.
How the Store Will Operate
This is Aurora Cannabis’s first retail location. As such, the company spared no expense in its creation.
Bruce Mau Design and GMC Architects were brought on board to design the West Edmonton location. The store was inspired by technology, innovation, and nature, and is said to explore the relationship between the natural world and production.
Cannabis researchers and makers will host sessions beside artists, chefs, and innovators at the store. Zamina Walji, ACB’s vice president of retail and consumer strategy, told the Edmonton Sun:
“Community engagement is one of our key values at Aurora. As one of the largest licensed producers in Canada we want to do our part in converting the black market as well as educating cannabis consumers as well as de-stigmatizing this industry.”
Finally, visitors will also have access to more than 42 cannabis products, including San Rafael ’71, Alta Vie, Whistler Cannabis Co, and Woodstock.
Aurora Cannabis’s Performance
Just two weeks before Aurora opened its new location, ACB stock was at a two-year low of $2.28. The excitement around the store opening caused the stock to rise to $3.12.
Sadly, after its Q1 2020 earnings, the stock sunk back down to $2.43, where it sits today. But Rich remains optimistic.
“Aurora has some incredible upside from these prices,” he explains. “I think it’s got an incredible future, and I would not be surprised to see it go back to $10.”
What do you think? Is this a sign of big things to come for Aurora Cannabis? Let us know your opinion on the new store and the future of this exciting pot stock.
Featured image: DepositPhotos © miroslav_1