Aurora Cannabis Slashing Weed Capacity in Profitability Push [Yahoo! Finance News]
Aurora Cannabis Inc. - Common Shares (ACB)
Company Research
Source: Yahoo! Finance News
Aurora Cannabis(ACBGet Aurora Cannabis Inc. ReportTwo weeks after announcing the close of its nearly $40 millionacquisition of Thrive CannabisThanks to a tough macro environment for recreational cannabis in Canada, the cannabis producer won't need all the capacity it has."Simply put, our business is bigger than what we need, and we must position ourselves to better secure our path to profitability and ultimately be successful in this industry in the long term,” Chief Executive Miguel Martinsaid in a video messageThe company says the sale is part of a plan to save Aurora between C$150 million and C$170 million (US$118 million to US$133 million) in annualized costs by the first half of next year.Aurora says the closure is part of its plan to transform its business. For the third quarter ended March 31 the company reported a loss of C$1 billion (US$780 million).Still, it's surprising to some that Aurora is putting its flagship grow facility in Edmonton, Alberta, on the chopping block.Aur
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ACB
Analyst Actions
- 2/8/24 - CANACCORD
ACB
Sec Filings
- 3/1/24 - Form 6-K
- 2/16/24 - Form 6-K
- 2/8/24 - Form 6-K
- ACB's page on the SEC website