Why Aurora Cannabis Stock Lost Half of Its Value in SeptemberPosted by On

What happened

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:

  1. The company announced an eye-popping 1.8 billion Canadian dollar goodwill impairment charge during its fiscal 2020 fourth-quarter earnings report last month.
  2. 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. 
  3. Early on in the month, Aurora announced that its CBD research partnership with the UFC, a mixed martial arts promotion company, was being terminated…

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