03:56:29 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Aurora Cannabis Inc
Symbol ACB
Shares Issued 1,012,289,765
Close 2019-03-26 C$ 12.23
Market Cap C$ 12,380,303,826
Recent Sedar Documents

Globe/CP say Hexo, rivals hear pot shortages linger

2019-03-27 08:05 ET - In the News

See In the News (C-HEXO) Hexo Corp

The Globe and Mail reports in its Wednesday, March 27, edition that although pot producers boosted production in the lead-up to legalization, shortages of product across the country continue to linger. A Canadian Press dispatch to The Globe reports that Cronos Group's revenues for the quarter at $5.6-million fell short of expectations of $10.44-million. Its revenues were also below that of its peers during the latest quarter. Canopy Growth and Aurora Cannabis had quarterly revenues of $83-million and $54-million, while Organigram Holdings and Hexo posted revenues of $12-million and $13-million, he said in a note to clients. Given Cronos's valuation -- helped by a recent $2.4-billion equity investment by Altria Group -- these results are "not exactly inspiring," says Jefferies analyst Owen Bennett. Cronos did not break out recreational sales, but Mr. Bennett estimates that it totalled approximately $2.3-million during the quarter, also lower than the adult-use sales reported by peers. "With capacity remaining limiting (in our view), its main recreational brand still receiving muted reviews, and unclear derivative infrastructure, we struggle to see how sales will materially pick up throughout 2019."

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