Aurora Cannabis shares make debut on Nasdaq after firm departs NYSE

Just Released! Get realistic market forecasts, state-by-state insights and benchmarks with the new 2024 MJBiz Factbook member program, now with quarterly updates. Make informed decisions.

Edmonton, Alberta-based Aurora Cannabis has left the New York Stock Exchange (NYSE) and followed some of its Canadian competitors onto the Nasdaq Global Select Market.

Aurora, which lost 1.4 billion Canadian dollars ($1.2 billion) through nine months of its fiscal year, swapped one exchange for the other because the Nasdaq generally has lower ongoing listing fees than the NYSE.

In a news release issued late Monday, Aurora chalked up the move to cost-cutting and “aligning the company with other cannabis peers on an exchange known for innovative and growth-oriented companies.”

The move is effective Tuesday, May 25.

The move has no bearing on Aurora’s primary listing on the Toronto Stock Exchange, where the company’s shares  trade under the ticker symbol ACB.

The company follows the lead of Canadian competitors Canopy Growth and Aphria – before its merger with Tilray – which both jumped to the Nasdaq last year for the reasons cited by Aurora.

Shares of Aurora trade as ACB on the Nasdaq and Toronto Stock Exchange.