what happened
Shares of Canadian Pot Company Aurora cannabis (NYSE: ACB) Ready for a rough day. Shares of the company fell as much as 18% in pre-market trading on Wednesday morning in response to disappointing FY20th quarter results released after the bell closed yesterday.
Shares of Aurora will return all of its hefty gains from Tuesday’s trading session. Speculators yesterday rallied in this small-cap pot stock hoping the company will report the expected Q4 results. It failed to fulfill the optimistic scenario, triggering today’s double-digit decline ahead of the opening llnt.
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So what
While Rora’s Q4 report covers a number of problematic areas, such as a 1. 1.8 billion deficit in good faith, the key figures that appear to hurt its shares the most this morning are the company’s poor performance in the first quarter of fiscal year 2021. .
Specifically, Ora Rora is presenting Q1 marijuana revenue between CA million 60 million and CA $ 64 million. This disappointing quarterly earnings forecast – if true – represents a gradual decline in total marijuana net income between 5.3% and 11.2%. Negative income growth It is not clear what investors signed up for when they bought ur Rora stock.
Now what
Should bargain hunters take advantage of this latest bid in the latest Rora shares? Unfortunately, the answer seems to be a solid number. The growth story of the pot company, to put it mildly, did not go as planned. In addition, the attractive U.S. The cannabis market is likely to be the limit for most of the current decade – for the most part. Neither the Democratic presidential candidate Joe Biden nor President Donald Trump appear eager to end federal sanctions on both.
