When Will Aurora Cannabis Start Trading On The New York Stock Exchange?

Aurora Cannabis (ACBFF) announced earlier in October its plans to list on the NYSE.
 
This week we got confirmation the first day of trading will be this Wednesday, October 24th.
 
There will be a lot of excitement when it hits the NYSE too.  
 
Listing on a major US stock exchange like the NYSE is a big day for any company. It’s especially big for Canadian marijuana companies like Aurora.
 
The reason is because the new exchange means more potential big investors can buy shares.
 
Aurora has traded for years on the US over the counter market under the symbol “ABCFF.”
 
The fifth letter “F” denotes the company as a foreign company.
 
The foreign designation isn’t a big impediment to most investors.
 
After all, Aurora trades on the TSX (a major exchange). It’s a big company (C$12/US$9 billion market cap). It is one of the largest marijuana companies in the world. And it trades considerable volume in the US (average 7.8 million shares traded a day in just the US).
 
There’s nothing wrong with trading on the TSX and most Americans can easily buy it through its US ticker symbol just as easily as they can any other stock like Apple or Netflix.
 
The difference is institutional investors which must follow rules many individual investors don’t have to follow.
 
In many cases they aren’t allowed to buy foreign issuers because they are perceived to carry higher risks and volatility and often lower liquidity.
 
Although that’s not the case with Aurora, the rules are the rules.
 
And if US investors take as much a liking to Aurora as they did Canopy Growth (WEED/CGC) — when Canopy became the first legal marijuana stock listed on the NYSE in May 2018 at $28 a share and went on to a high of more than $59 a share — there will likely be a big bounce for Aurora shares on Wednesday.