Investors that impulse purchased hashish shares following the Democrats successful the U.S. Presidential elections will remorse it. The mid-November spike that despatched Aurora Cannabis (NYSE:ACB) didn’t final lengthy. The firm’s quarterly earnings report at first despatched Aurora Cannabis inventory above $12.00. But like clockwork, administration took benefit of gullible traders by promoting $150 million price of shares.
Investors who nonetheless personal shares ought to consider promoting it to get what they’ll.
Q1/2021 Results Lifted Aurora Cannabis
On Nov. 9, the corporate posted revenue falling by 1% sequentially to 67.eight million CAD ($51.eight million) . This is sort of flat from the prior quarter’s 67.5 million CAD of hashish web income. It posted an adjusted EBITDA lack of 57.9 million CAD. The firm highlighted the adjusted gross margin, earlier than truthful worth changes, at 48%. CEO Miguel Martin as soon as once more prompt that the corporate is on the way in which to in the end obtain constructive money move and sustainable profitability.
As proven under, Aurora didn’t beat analyst expectations more often than not. It solely exceeded estimates in two of the six previous quarters:
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