Aurora Cannabis shares jumped another 16.4% to $6.25 on Thursday, briefly jumping nearly 24% intraday.

The shares have soared 45.9% on Wednesday, after the Canadian pot producer booked a nearly 40 per cent annualized jump in net revenue in its third quarter.

"This quarter was record-breaking for Aurora, driven by all-time highs in global medical net revenue, net income, adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization), and free cash flow," CEO Miguel Martin stated in a news release.

Aurora says net revenue for the three months ended Dec. 31, 2024 topped $88.1 million, up 37 per cent year-over-year. The company reported an annualized adjusted EBITDA increase of 316 per cent.

In a note to clients, Canaccord Genuity analyst Matt Bottomley said the results were "well above consensus expectations (particularly on gross/operating margins), as the company continues to see accelerated growth within its European/Australian medical segments."

Aurora's Toronto-listed stock soared to dizzying highs at the dawn of Canada's legal recreational cannabis market in 2018. Canadian cannabis shares plunged shortly after legalization as the industry grappled with a litany of headwinds, from excess supply, to challenges at retail, a resilient illegal market, and excise taxes that have been dubbed too steep by producers.

Meanwhile, Senate actions provided fuel for the cannabis stock to rise for a second straight day on Thursday, as investors continued to speculate about favorable developments for marijuana reform inside the Beltway.

Stock prices extended gains from the previous session, when one U.S. Senate committee looked into easing regulations for banks to handle transactions related to legal cannabis businesses, while the full Senate is expected to confirm President Donald Trump’s nominee to lead the Department of Health and Human Services, Robert F. Kennedy Jr., who is seen as a proponent of legal pot.