SuffelStocks™ Day 26

May 8, 2020 Brandon Suffel

Aurora Cannabis plans for a reverse stock split next week. Apple plans to reopen stores as the Unites Stated economy starts phase one of reopening. Tesla also plans to reopen Fremont, CA plant; Almeda county suggests otherwise.

Twitter: @SuffelStocks.
Stocktwits: @SuffelBMS.

$ACB reverse stock split

$ACB YoY stock performance chart–Robinhood

On Monday, May 11, Aurora Cannabis will roll up its shares in a reverse stock split — according to MarketWatch. The company has faced immense losses since its 2019 highs. And since, Wall Street’s frustrated with the disappointing performance.

Aurora Cannabis is a popular company, without a doubt. It’s one of the more popular stocks on the trading platform Robinhood, with over 990,000 followers.

MarketWatch- Aurora said that it would grant shareholders one share for every 12 currently outstanding. . .

The current number of owned shares amounts to more than 1.3 billion. After the reverse stock split, there will only be 110 million standing shares. . .diluting shares more than 30%, according to an analyst estimate.

$ACB this Friday fell 3.19% before the closing bell, also before the company adopts a reverse stock split on Monday May 11.

$AAPL leads the charge

Seoul Apple Store
Joe Wituschek 30 Apr 2020: Tim Cook says Apple Stores in Austria and Australia will reopen next week

Apple plans to reopen stores in Idaho, South Carolina, Alabama and Alaska starting next week — CNBC

Out of the four states eager for open doors, six stores are available to shop from. There’s no confirmation as to whether all six will be opened. And with over 510 stores globally, and only 271 in the U.S., this is a small stepping stone for Apple.

Of the reopened locations, staff members will check shoppers temperatures before entering the stores. Opened locations will also limit the number of shoppers.

$AAPL stock responded ecstatically to the news. The stock was up $7.21 (+2.38%) in trading hours. The momentum has transferred into the after-hours.

$TSLA wants to get back to work

Twitter @Stocktwits: “$TSLA △ 7% since Elon’s downgrade.”

Tesla CEO and Chairman Elon Musk has plans for Tesla to reopen its Fremont, CA. plant next week. Almeda county has warned Tesla to resist reopening. They’ve also suggested the company did not meet certain criteria for reopening the manufacturing plant.

$TSLA stock soared $39.38 (+5.05%) in trading hours on Friday. Shares remain at 819.21 in the after hours.

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