Aurora Cannabis (NYSE :), (TSX 🙂 caught investors' attention at the end of last week when it posted the latter, highlighting an unexpected rise in earnings.
The news caused an impressive upward movement in the stock price. The stock did indeed achieve more than 65% on Friday.
The stock moved up further on Monday, where it gained another 52.68% on the day and closed at US $ 17.10. Canadian markets closed yesterday for the Victoria Day holiday.
The Edmonton-based cannabis grower achieved sales of C $ 75.5 million (US $ 5.43 million) in its third quarter ended March 31, up 35% compared to the previous three-year period. months. But it was not all good news. The company closed the quarter with a net loss for the quarter of C $ 137.4 million (US $ 985,921) and EBITDA of a loss of C $ 50.9 million. Despite the disappointing result, it was a relative improvement from the previous quarter, with Aurora reporting a loss of C $ 1.3 billion.
"I am … pleased that our third quarter 2020 financial results were in line with our expectations, and that we remain firmly on track with the cost savings and capex targets we have in our business transformation plan in February 2020 elaborated, "said Michael Singer, the company's executive chairman and interim CEO.
Despite the striking jump in the share price, Aurora shares have still lost nearly 90% of their value in the past year. Last year, shares traded at just under $ 104 last year.
Green Thumb's first American potting company rises to $ 100 million in revenue
A Chicago-based marijuana packaging and retail distributor has become the first U.S. cannabis company to reach the $ 100 million mark last week.
Green Thumb Industries (OTC 🙂 published its first quarter figures last quarter. It generated $ 102.6 million in the first reporting period of 2020, an increase of 267.6% from the $ 27.9 million posted in the same period in 2019, and 35.4% more than in the fourth quarter. of 2019, when the company made $ 75.8 million.
"We have reached an important milestone in breaking $ 100 million in quarterly sales, along with significant EBITDA growth," said Ben Kovler, CEO of Green Thumb. The company reported adjusted operating EBITDA of $ 25.5 million, up 85% quarterly.
The company's net worth was $ 140.8 million, including $ 71.5 million in cash and cash equivalents, according to the figures it disclosed.
Green Thumb has 44 stores in the United States in 10 states, including Illinois, Connecticut, Florida, Maryland, Massachusetts, Nevada, New Jersey, New York, Ohio, and Pennsylvania. It is licensed to open up to 96 points of sale.
Hexo posted by New York Stock Exchange
Hexo Corp., based in Quebec, has confirmed that it has received a message from the New York Stock Exchange that the stock does not meet stock exchange standards.
The notification warns that the stock has fallen below the US $ 1 per share threshold for 30 days. Hexo Shares may be deemed to meet the requirements again if the Shares trade above USD 1 on the last trading day of May and then maintain the price above that Mark for an average of 30 days within the next six months.
On Monday, Hexo shares reached just over 42% to close at US $ 0.75. It was last traded above the USD 1 threshold on March 27. It closed at C $ 0.76 on the Toronto Stock Exchange yesterday, up about 22.5% on the day.
