Aurora Cannabis share price jumps on news it's in talks with Coca-Cola on weed-infused drinks

    1 of 1 2 of 1

      Cannabis drinks won't be coming to a store shelf near you when weed is legalized in Canada on October 17.

      That's because the federal government will only permit people to make legal cannabis containing drinks at home—and only then if they don't use dangerous organic solvents.

      But that didn't stop investors from getting high on Aurora Cannabis shares on news that it's in discussions with Coca-Cola to make pot-infused drinks.

      BNN Bloomberg's story relied on an unnamed source with "direct knowledge" of the talks.

      As a result, Aurora Cannabis shares jumped 16.86 percent today, closing at $9.98.

      That was much higher than increases posted by Canada's two most valuable cannabis companies.

      Canopy Growth Corp. shares were up 2.78 percent to close at $63.23. This puts its market capitalization at $14.45 billion, 

      Nanaimo-based Tilray fared better, rising 10.22 percent to close at US$120.19 on NASDAQ. Its market value is US$11.19 billion, which is equivalent to $14.59 billion in Canadian currency.

      So for today, at least, Tilray is winning the race for the highest market capitalization, but that could easily change tomorrow.

      Aurora Cannabis is in third place at $9.5 billion, followed by Aphria Inc. at $4.5 billion and Cronos Group at $1.8 billion.