The stock of Aurora down by 11 percent as cannabis producer sales back for expansion

On Thursday, Aurora Cannabis has said to be reported a nearly 24 percent sequential decline. As per the reporting sales, a C$75.3 million was there against the C$98.9 during the last year quarter. It has too been said that due to all these, the company also slows all its expansion plans in Canada and abroad.

It was seen that the US-traded shares of Aurora now down by nearly 11.3 percent in the extended session.

If you take a look at the report of the company in the first quarter, then the net income of Aurora is attributed to nearly C$12.8 million as compared with last year’s quarter, which stands at C$105.5 million.

In the statement from the company, it said that it had sold C$30.5 million of medical weed and the recreational sales of all sequential said to be declined by 33 percent to C$30 million. In the next one, the company, too, said that it had sold C$10.3 million worth of wholesale pot and the executives said to have consisted of low-quality product which is supposed to be trim and shake. All these shown as the leftovers from the higher value smokeable flower.

About the author

Amanda Rose

Amanda Rose

Amanda Rose has lived in Nashville her whole life. Amanda has worked as a journalist for nearly a decade and has contributed to several large publications including the Yahoo News and the Oakland Tribune. As a founder and journalist for Periodical Today, Amanda covers the latest happening in the world of technology.

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