22:37:16 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Aurora Cannabis Inc
Symbol ACB
Shares Issued 1,013,134,389
Close 2019-04-08 C$ 11.99
Market Cap C$ 12,147,481,324
Recent Sedar Documents

Globe says Cronos, rivals hear LPs fail to meet demand

2019-04-08 09:30 ET - In the News

See In the News (C-CRON) Cronos Group Inc

The Globe and Mail reports in its Saturday edition that many consumers want high-THC pot at a good price, and may be willing to get it legally, but licensed producers cannot provide enough of it. The Globe's Marcy Nicholson writes that the mismatch in supply and demand has left the black market firmly in control of the country's marijuana market, and there is no sign that will change soon, while producers struggle to meet investors' lofty financial expectations. Take Tilray, it sports a market value of nearly $6-billion (U.S.). It revealed it had to purchase pot from other suppliers to meet sales commitments. Cronos Group has a market value of about $8-billion. It reported net revenue of $5.6-million in the fourth quarter. Even the industry's biggest players, such as Aurora Cannabis have struggled to keep up in the early days of legal recreational marijuana. Aurora spooked investors and analysts in early January when it forecast about $55-million in revenue for its first quarter of legal recreational sales. Sales of recreational dried weed fell to 7,115 kilograms in January, down 3.7 per cent from the previous month and the lowest since October, when retail legalization kicked in midmonth.

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