Pot stock Aurora says there’s no deal with Coke, but shares are up

Jason Franson  | Bloomberg | Getty Images

Employees tend to marijuana plants at the Aurora Cannabis Inc. facility in Edmonton, Alberta, Canada, on Tuesday, March 6, 2018. Aurora CEO Terry Booth and his business partner Steve Dobler are the largest individual holders of Canada’s second-largest marijuana firm, with a combined stake approaching C$200 million.

Despite assurances from Canadian marijuana producer Aurora Cannabis that it does not have any formal agreement to partner with a beverage company, its stock rallied Tuesday after it said it talks with drink companies on occasion.

As of the latest reading, shares of Aurora were up 4.7 percent in Canadian trading.

“The Company does confirm that it engages in exploratory discussions with industry participants from time to time,” Aurora said in a press release. “At this time the Company confirms there is no agreement, understanding or arrangement with respect to any partnership with a beverage company.”

Tuesday’s move comes after the stock rallied 17 percent in Canadian trading Monday after Canadian news service BNN Bloomberg reported Coca-Cola is in talks with Aurora to develop weed-infused beverages.

Coke issued the following statement Monday following the report:

“We have no interest in marijuana or cannabis. Along with many others in the beverage industry, we are closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world. The space is evolving quickly. No decisions have been made at this time.”