02:55:32 EDT Tue 16 Apr 2024
Enter Symbol
or Name
USA
CA



Aurora Cannabis Inc
Symbol ACB
Shares Issued 1,013,134,389
Close 2019-04-05 C$ 12.28
Market Cap C$ 12,441,290,297
Recent Sedar Documents

Globe says Hexo, rivals capture small piece of market

2019-04-08 08:20 ET - In the News

See In the News (C-HEXO) Hexo Corp

The Globe and Mail reports in its Saturday, April 6, edition that Aurora Cannabis spooked investors and analysts in early January when it forecast about $55-million in revenue for its first quarter of legal recreational sales. The Globe's Marcy Nicholson writes that while many in the industry and government did not expect supply to meet demand out of the gate, the country's growers clearly under-delivered on their commitments to provincially run wholesalers. When the federal government started down the path of legalizing cannabis for recreational use, one of its stated goals was the elimination of the black market. However, the period since the end of prohibition on Oct. 17, 2018, has been riddled with growing pains, most notably a national cannabis shortage that almost immediately led to reduced opening hours at some provincially run stores, the sale of some independent stores to bigger chains, and a pullback of retail licensing in Ontario and Alberta. The shortage means legal producers are capturing just a fraction of the overall market for pot. While Canadians spent $5.9-billion on marijuana in the final three months of 2018 on an annualized basis, only 20 per cent was spent on legally produced cannabis.

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