Aurora Cannabis Investors are currently smiling and rubbing their hands gleefully with the news that Germany’s Federal Institute for Drugs and Medical Devices awarded the company a contract to grow and distribute medical cannabis in the country.
The news comes as a delight for Aurora Cannabis stock, which has gone up by more than 80% already this year, and by more than 40% in the past year alone. This can be largely attributed to a partnering strategy (in the words of Executive Chairman Michael Singer), as well as the unrelenting global expansion of the company.
The new strategy led to growing valuations for the company, and also new profiting partnerships. It was one of such partnerships that led to a public contract with the German government, which awarded Aurora Cannabis with the maximum allocation of five lots out of thirteen to grow cannabis and sell back to the German government.
As of Friday morning, Aurora Cannabis stock was up by 3%, before falling back to a steady 1.5% later in the day at $9.08 per share.