06:59:34 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



Aurora Cannabis Inc
Symbol ACB
Shares Issued 1,020,378,291
Close 2019-11-14 C$ 4.38
Market Cap C$ 4,469,256,915
Recent Sedar Documents

Globe says Aurora revenue plunges in Q1

2019-11-15 08:10 ET - In the News

The Globe and Mail reports in its Friday edition that Aurora Cannabis posted a 24-per-cent fall in first quarter revenue Thursday, as the once-booming sector turns to bust just a year after recreational cannabis was legalized. The Globe's Mark Rendell writes that Aurora dropped 31 cents to close at $4.38, wiping out hundreds of millions of dollars of market value. The entire sector is suffering amid a months-long sell-off in pot stocks and weak financials. Cannabis growers are already having to downsize operations and rethink expansion, as access to capital has dried up and consumers are proving reluctant to switch over from the black market. Producers complain about an uneven legal rollout across Canada. In Ontario, for instance, there are just 24 legal stores, and provincial wholesalers across the country are placing fewer purchase orders because of a buildup of unsold inventory. Edmonton-based Aurora announced on Thursday that it is deferring "for the foreseeable future" the completion of a 1.6-million-square-foot growing facility in Medicine Hat and is halting construction work on a greenhouse in Denmark. The company said it expects to save $190-million over the next year by reducing capital expenditures.

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