{"id":27679,"date":"2020-10-31T08:04:16","date_gmt":"2020-10-31T08:04:16","guid":{"rendered":"https:\/\/www.ceo-na.com\/?p=27679"},"modified":"2020-10-30T14:34:08","modified_gmt":"2020-10-30T14:34:08","slug":"aurora-cannabis-shares-fell-29","status":"publish","type":"post","link":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/news\/aurora-cannabis-shares-fell-29\/","title":{"rendered":"<Aurora Cannabis shares\u00a0fell 29%>"},"content":{"rendered":"<p>Shares of Canadian marijuana producer Aurora Cannabis Inc. fell 29%.<\/p>\n<p><!--more--><\/p>\n<p><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-09-23\/aurora-sinks-to-4-year-low-told-to-stop-growing-so-much-weed?sref=KkPzpZvz&amp;utm_source=morning_brew\">Bloomberg reported<\/a> that Aurora Cannabis Inc., the\u00a0Edmonton-based company, incurred $3.3 billion in losses in its 2020 fiscal year, including $1.86 billion in its latest quarter due to large impairment charges.\u00a0Shares tumbled to the lowest level since 2016 when Canada was still two years away from legalizing recreational marijuana use. Results prompted an MKM Partners analyst to tell the company: \u201cPlease stop growing so much weed.\u201d<\/p>\n<div class=\"hardwall\" data-position=\"1\">\n<p>Miguel Martin, who was named CEO on Sept. 8, conceded that the company has\u00a0slipped from its top position in the Canadian consumer cannabis market.\u00a0&#8220;The company really was distracted in a lot of ways by the reset both on the people side and on the production side,&#8221; <a href=\"https:\/\/www.cbc.ca\/news\/canada\/edmonton\/aurora-3-3-billion-loss-1.5735539\">Martin told analysts<\/a>. &#8220;All I can say is look to the data in the coming months to see the trajectory of our success in the Canadian consumer market,&#8221; Martin said. If you see progress in our premium brands and adjacent key categories like vape and pre-rolls, you know the plan is on the right track.&#8221; The fall is forcing Martin to stage an immediate overhaul even after Aurora laid off thousands of workers this year.\u00a0Chief financial officer Glen Ibbott blamed much of the company&#8217;s troubles on consumer cannabis net revenue falling nine per cent to $35.5 million in the quarter.The results dragged other Canadian pot stocks lower, with\u00a0Tilray Inc.\u00a0down as much as 9.6%,\u00a0Canopy Growth Corp.\u00a0losing 9% and\u00a0Cronos Group Inc.\u00a0falling 4.7%.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Shares of Canadian marijuana producer Aurora Cannabis Inc. fell 29%.<\/p>\n","protected":false},"author":8,"featured_media":27680,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1338],"tags":[4111,529,99,1385,631,4112],"class_list":["post-27679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-aurora-cannabis","tag-canada","tag-ceo","tag-ceo-northam","tag-marijuana","tag-weed-sales-canada"],"_links":{"self":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts\/27679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/comments?post=27679"}],"version-history":[{"count":3,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts\/27679\/revisions"}],"predecessor-version":[{"id":27683,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts\/27679\/revisions\/27683"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/media\/27680"}],"wp:attachment":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/media?parent=27679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/categories?post=27679"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/tags?post=27679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}