Aurora Cannabis (NYSE:ACB) is something of a giant among marijuana stocks. It ranks among the top three largest marijuana stocks by market cap. Aurora claims the largest production capacity in the cannabis industry. The company’s global reach is greater than that of most of its rivals.
Compared to Apple (NASDAQ:AAPL), though, Aurora Cannabis is more like a flea than a giant. Apple’s market cap is more than 100 times greater than Aurora’s. The technology leader made enough in profit last quarter to buy two companies the size of Aurora Cannabis and still have nearly $5 billion left over.
But there’s one area in which Aurora Cannabis is beating Apple right now. What is it — and could it actually mean that Aurora Cannabis is a better stock to buy than Apple?
Tops on Robinhood
Robinhood came out of nowhere in 2013 to become one of the most heavily used online trading platforms. The differentiator for Robinhood is that it doesn’t charge commissions on stock trades. Robinhood’s free trading has especially appealed to millennial investors.
Markets Insider has been closely tracking the data from trading on the Robinhood app. Until Nov. 8, 2018, one stock stood above all others in popularity among the young investors that used Robinhood. That stock was Apple.
But Apple no longer holds the top spot on Robinhood. It’s now in second place in terms of ownership. Which stock is No. 1? You guessed it — Aurora Cannabis.
Markets Insider writer Ethel Jiang wrote last week that 247,517 Robinhood users owned Aurora Cannabis shares. This number reflected a jump of 20,000 shareholders from the previous week. By comparison, 237,050 Robinhood users owned Apple.
Why Aurora beat Apple
It’s not shocking that Apple was dethroned. But for a Canadian marijuana stock to soar to No. 1 among Robinhood users is pretty surprising. Why do millennial investors appear to like Aurora Cannabis so much…
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