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Lawrence McOchillo

Aurora Cannabis

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Aurora Cannabis, a Canadian weed company, is in financial troubles largely due to the inflated acquisitions made in previous years. The company announced last week that it was booking about C$1 billion in goodwill and asset-impairment charges in its latest quarterly earnings report. The latest announcement also saw the company fire 500 employees including the CEO, Terry Booth, who was also its co-founder.

The Cannabis sector has been in a bear market as evidenced by ETFMG Alternative Harvest ETF, which has fallen 55% over the past year. Aurora's  stock has also shed 80% of its value over the same period, which has compounded the company's financial problems. The firm also forecast lower sales figures for fiscal Q3 indicating that its troubles are far from over.

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Perhaps this is due to a decrease in the quality of the products that they put on the market. I read that many manufacturers speak negatively about them and refuse their orders. Due to the growing popularity of cannabis, more and more profitable offers appear on the market that attract the consumer. For example, I have opted out of Aurora Cannabis services and order at https://weedsmart.net/product-category/brands/mota/. Their offers are more profitable for me and at the moment I have not seen any big competitors for this company.

Edited by Sean Graham

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