Shares of Aurora Cannabis (NYSE:ACB), a top Canadian marijuana company, lost a jaw-dropping 50% of their value during the month of September, according to data provided by S&P Global Market Intelligence. The pot titan’s market cap tanked for four interrelated reasons:
- The company announced an eye-popping 1.8 billion Canadian dollar goodwill impairment charge during its fiscal 2020 fourth-quarter earnings report last month.
- As part of this latest earnings report, Aurora also rolled out a rather dire financial forecast for the first quarter of fiscal 2021. Specifically, management expects net revenue to fall by at least 5.3% sequentially.
- Early on in the month, Aurora announced that its CBD research partnership with the UFC, a mixed martial arts promotion company, was being terminated…