Analysts at Melius Research said Aurora Cannabis Inc (NYSE:ACB) has taken “a step forward” in the cannabis race by appointing longtime activist investor Nelson Peltz as a strategic advisor.
The addition of Peltz to the Aurora team represents one of the largest endorsements of the nascent cannabis industry.
“Aurora’s announcement is both a validation of the potential in cannabis, and also adds expertise to what we see as a core need in the cannabis industry; building alliances and reach quickly,” wrote Melius Research analysts Rob Wertheimer and Marissa Schlueter in a report Wednesday.
READ: Melius Research initiates coverage of cannabis sector, says it will ‘disrupt the beverage industry’
“For perspective, Nelson Peltz has been successful and exceptional investor in the consumer space both as a founder of Trian Partners and before, with deep ties to the consumer world,” they added.
Peltz, who founded and serves as CEO of New York-based Trian Partners, has