Marijuana company Aurora Cannabis were popping after the company announced that Trian Partners founder Nelson Peltz, who is also an activist investor, has been appointed to the company as a strategic advisor.
Aurora Cannabis has granted Peltz options to purchase nearly 20 million Aurora shares. If he exercised the options, he would be the company’s second-largest shareholder.
Peltz will “work collaboratively and strategically to explore potential partnerships that would be the optimal strategic fit for successful entry into each of Aurora’s contemplated market segments,” Aurora stated.
Shares of the stock were up nearly 14% at the close on Wednesday, marking the best day of trading since last September.
“I believe Aurora has a solid execution track record, is strongly differentiated from its peers, has achieved integration throughout the value chain and is poised to go to the next level across a range of industry verticals,” Peltz said.
“I also believe that Canadian licensed producers, and Aurora in particular, are well positioned to lead in the development of the international cannabis industry as regulations evolve, with a strong, globally replicable operating model.”
Disclaimer: We have no position Aurora Cannabis Inc. (NYSE: ACB) and have not been compensated for this article.