Aurora Cannabis Inc logo

ACB - Aurora Cannabis Inc News Story

$14.08 -1.3  -8.2%

Last Trade - 29/05/20

Sector
Healthcare
Size
Mid Cap
Market Cap £1.24bn
Enterprise Value £1.44bn
Revenue £179.9m
Position in Universe 1920th / 6364

BUZZ-Hexo Corp: Tumbles on wider Q2 loss, impairment charges

Mon 30th March, 2020 6:31pm
** Cannabis producer's  HEXO.TO  shares fall 20% to C$1.22
    ** Co posts wider Q2 net loss of C$298.2 mln vs loss of
C$4.3 mln a year earlier, due to a surge in operating expenses
 urn:newsml:reuters.com:*:nGNX13lHGJ
    ** Company also decides to put its Niagara facility for
sale; adds it had determined an impairment loss of C$138.3 mln
on the facility     
    ** Writes down surplus cannabis trim and milled products
valued at C$3.1 mln and a concentrated bulk purchase of C$11.8
mln   
    ** Brokerage Jefferies says Q2 results offers "some
encouragement" but says "the need for more cash stands out"
    ** Meanwhile, shares of other pot firms also in the red
    ** Sundial Growers  SNDL.O , Aphria Inc  APHA.TO , CannTrust
Holdings  TRST.TO , Aurora Cannabis  ACB.TO  and Tilray Inc
 TLRY.O  down between 3% and 19% 

    

 (Reporting by Shradha Singh in Bengaluru)
 ((Shradha.Singh@thomsonreuters.com; within U.S. +1 646 223 8780
Ext: 2804, outside U.S. +91 80 6182 2630;))
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