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Aurora Cannabis Inc
Symbol ACB
Shares Issued 1,089,513,408
Close 2019-12-23 C$ 2.65
Market Cap C$ 2,887,210,531
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Globe says Aurora sells off after Battley's departure

2019-12-24 08:15 ET - In the News

The Globe and Mail reports in its Tuesday edition that the surprise departure of a top executive at Aurora Cannabis is weighing on the company, with analysts growing downbeat on its outlook and investors selling. The Globe's Tim Kiladze writes that Aurora's stock dropped 30 cents to close at $2.65 Monday, the first trading day after the company disclosed the abrupt departure of chief corporate officer Cam Battley. Mr. Battley had been Aurora's public face. "It is clear to us that the market is lacking conviction in Aurora, and this update will do little to help that," Jefferies analyst Owen Bennett said in a note Monday. Turnover of senior executives has been rampant among cannabis producers this year. With share prices across the board already in free fall after investors lost confidence in the sector, the latest exit compounds the problem for Aurora, whose shares were already down 56 per cent year-to-date before the news broke. "The biggest issue ... is trust, with multiple instances of Aurora missing targets or going against its word," Mr. Bennett wrote in his research note. "With Battley the 'face' of the company, this could have been a factor in his departure." Mr. Battley and Aurora declined to comment.

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