Marijuana Stocks Fall Amid Industry's Latest International Pullback [Investor's Business Daily]
Aurora Cannabis Inc. - Common Shares (ACB)
Company Research
Source: Investors Business Daily
Related news Aurora Cannabis stock and other marijuana stocks dipped after the Canadian pot producer said it will cut staff in Europe by around one quarter and scale back other operations, marking the latest pullback as the industry turns its focus on its most profitable businesses. When reached via email for comment, Aurora Cannabis ( ACB ) said the reorganization followed a "thorough analysis of our international operations to better align to current market conditions, continue to meet market demand and drive the company to near-term profitability." BNN Bloomberg first reported the details. Aurora will also close offices in Portugal, Italy and Spain, the news outlet said, citing an internal memo from last week. Big Canadian marijuana growers like Aurora and Canopy Growth ( CGC ) in recent years tried to get into new international markets early. But the pot industry in those nations often remained small and restricted, while losses piled up and sales in Canada disappointed investors
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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