Cannabis Canada Weekly: Aurora targets premium, medical pot in Canada's 'irrational' market [Business News Network (BNN) (Canada)]
Aurora Cannabis Inc. - Common Shares (ACB)
Company Research
Source: Business News Network
With all due respect to Netflix's Stranger Things, it's easy to understand why Aurora Cannabis Inc.'s Chief Executive Officer Miguel Martin considers Canada's recreational marijuana market to be upside down right now. "At least for the moment, it's completely irrational," Martin told BNN Bloomberg in an interview shortly after the release of Aurora's fiscal first-quarter results. "When you have situations where with 28-gram discount flower, people are losing money, you've got to choose do you want to be profitable or do you want to have a 15 (per cent market) share?" It's a stark change from the early days of legalization when Aurora was one of the biggest pot companies out there and then-CEO Terry Booth sought revenue growth regardless of how much it would cost it. And though it's still too early to say whether Martin's strategy is right, Aurora's stock is up almost 14 per cent over the past year as he tries to reshape the Edmonton-based cannabis company into a science-focused
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