Aurora Cannabis Inc

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Aurora Cannabis Inc NASDAQ
 
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Important events

Apr 042022

Second time’s a charm?

The House passes a landmark marijuana legalization bill, but it seems investors have learned their lesson about getting their hopes up.

🔍 Key points:

  • The House voted to federally legalize cannabis when it passed the Marijuana Opportunity Reinvestment and Expungement Act (MORE Act) with a 220-204 vote. Buuut don't light your joint before it’s fully rolled – it’s passed in the House before and still got stuck in the Senate…
  • Which could be why pot stocks faltered on Friday despite the news. Aurora Cannabis sank 1.25%, Tilray sank 3.75%, and Canopy Growth declined 2.77% – all three had been rallying the week before in anticipation of the vote though.
  • Cannabis companies would be laughing all the way to the bank if the vote got passed, but Alliance Global Partners says it may take some time: “We believe the operating environment will likely remain the same near-term as questions around regulations and interstate commerce were finalized”.
2H Media / Unsplash

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Mar 242022

Cannabis M&A is blazing ahead

Cannabis stocks are feeling buzzed after consolidation in the industry shows all the budding opportunities in the market.

🔍 Key points:

  • Two big pieces of M&A news were lighting up weed stocks on Tuesday. First, Aurora Cannabis will spend C$38m ($30.25m) on acquiring TerraFarma, which owns the award-winning Thrive Cannabis.
  • US-based Cresco Labs added to the excitement by agreeing to acquire Columbia Care for around $2bn, which (if it all goes through) will be one of the biggest deals in the industry to date and represents a massive bet on US federal legalization.
  • Friends who blaze together stay together, and the whole basket of marijuana stocks lifted on Tuesday. Aurora jumped over 2% before paring those gains, Tilray grew 3.5%, and Sundial Growers lifted over 4%.
Harpur / Unsplash
Feb 142022

Aurora gets woken by a kiss from medical marijuana

Aurora Cannabis’s pot sales have been asleep for the last year but they’re given the kiss of life in Q2 – though mounting losses threaten its happily ever after.

Key Points:
  • Prices jumped 3% in Friday morning trading after Aurora reported a wider loss than expected with C$75.1m ($59m), improving from a loss of over C$300m ($235.2m) a year ago, on top of revenues of C$60.6m ($47.4m) – there’s good news and bad news to explore here.
  • It beat cannabis sales expectations for the first time in over a year, even though Q2 revenues dropped 10% y-o-y. Medical marijauna saved the day, seeing sales grow 18%, and CEO Miguel Martin says it's now the number one medical marijuana business in Canada.
  • Recreational cannabis sales declined by 48% though, contributing to its wider loss and disappointing guidance, thanks to "industry wide pricing pressures" – basically, Canadians are going for the cheaper pot on a recreational basis, a trend that other cannabis companies are also struggling with.
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GRAS GRÜN / Unsplash