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Nice green day! Morgan Stanley sees things as a break even as not looking at the sins of the past management, so taking that impairment out shows the true strengths. It really sucks sky is being sold off, hopefully with all the shortages we get a good price. As for Isreal, sounds like that is saturated now, so probably not anything soon(my opinion) but because we are growing, things are settling out. Awesome to see Australia's growing very strong and we are going above and beyond the cost savings. Listen to the CC to help understand the numbers and press releases to make your own decisions!
More declines:
Revenue down
Q3 2022 total cannabis net revenue was $50.4 million, down 17% sequentially.
"Adjusted" EBITDA worse than last quarter
Adjusted EBITDA loss declined to $12.3 million in Q3 2022 versus $9.0 million
https://investor.auroramj.com/news-and-events/press-releases/123011/
It just might take a quick drop to the $1.70s here soon.
If it's quick, I will be in for a trade. If it just keeps shedding it may never stop..
I remember 4 years back when the marijuana euphoria was in it's prime and this among other pot stocks were being pumped like no tomorrow and now look at this thing after a zillion for 1 stock split.
Why the "adjusted EBITDA positive" that ACB management has been touting for years doesn't matter, (from Uber):
"We have made a ton of progress in terms of profitability, setting a target for $5 billion in Adjusted EBITDA in 2024, but the goalposts have changed. Now it’s about free cash flow."
Even they recognize that the fiction of the phony "adjusted EBITDA" has been unmasked. There is no definition of "adjusted" so companies can make up whatever they want.
Free cash flow? Not with ACB. They get all their cash by selling shares. When ACB boasts about their balance sheet cash, they forget to mention it is all from selling shares, not product.
So here is the closing. I was never overly excited when they made this purchase. 12 people lost their job, so my guess is the license and land itself was the expense. Now we can sell it.
https://stratcann.com/2022/05/07/aurora-cannabis-closes-down-their-200-acre-bc-farm/
And as for the 180 acre property we just picked up(why the above is no longer needed).
https://thrivecannabis.ca/
http://crweworld.com/article/news-provided-by-pr-newswire/2374032/aurora-cannabis-to-host-third-quarter-fiscal-year-2022-investor-conference-call
I would be surprised if we get a surprise upside, but I bet it shows we are still on track. If you recall in his last conference call, I believe it was around August he figured the recreational would settle out. I'm hoping if the recreational market has rational prices then for 7s to profit, and its at that time we get aggressive with recreational again.
I have to hand it to you for hanging in there and posting. I’m like you a long suffering share holder. I’m praying this makes somewhat of a recovery even if it takes 5 years.
Maybe so. Aurora doesn't show signs of going under. I still believe and did buy more recently. I have a mix of long and short term shares, so it's going to be an interesting ride up when that starts. I feel we got beat up unnecessarily over the last 4 weeks. Tilray, in my opinion, put out earnings with a press release that was a bit creative in its language and again added some damage to the Canadian sector(trust). Also, we have an efficient manufacturing system too in not having crop loss as well.
Sure has been terrible for the long holder's, but I still believe. Ebita positive as he stated still stands. Hopefully profitable soon after. This below wad on Twitter a couple days ago.
"Aurora is expanding its #medicalcannabis portfolio in Germany with EU-GMP produced Dronabinol isolate, which is effective in alleviating neuropathic pain. Intended for oral use, Dronabinol will be available in German pharmacies as a prescription medication."
ACB is 1 of many I’m collecting
All in on MJ 2022
**** $ACB **** The pandemic saw a boom in legal recreational cannabis sales across Canada. From March 2020 to February 2021, sales totaled $2.5 billion, double the $1.25 billion of the previous 12 months.
https://theconversation.com/the-pandemic-had-little-impact-on-canadas-legal-cannabis-sales-180206
Need the Big Boys to start eyeing their future slice of the pie. Coke, Budweiser, Phillip Morris, they'll all want some exposure in this space and I believe 2022 is the year we see them do it
Lock n' Load
Seems like a broken stock. It's been good for traders on several occasions, but for longs, virtually disastrous.
The ability to show a profit is paramount. Anything less is tantamount to disaster at this stage.
Shakeup needed..
EXCLUSIVE: Aurora Cannabis CEO 'Absolutely Confident' Company Will Be EBITDA-Positive By Year's End
2 hours ago, 4:00 PM EDT
Via Benzinga
Stocks mentioned: ACB
Any TA guru that can talk to his "potential" claim of skyrocketing in the near future? I'd be interested in hearing people's opinions.
I sure would complain!
U.S. Senate votes to expand cannabis research
Updated: Mar. 26, 2022, 10:51 p.m. | Published: Mar. 26, 2022, 3:29 p.m.
EDITOR’S NOTE: NJ Cannabis Insider is co-hosting a Cannabis Career Fair & Business Expo on April 5 at Stockton University. (Students free.) Tickets here.
A unanimous U.S. Senate has voted to expand research into cannabis to see if there are any medical benefits to the drug and its compounds, including cannabidiol.
The Cannabidiol and Marihuana Research Expansion Act also would require the U.S. Department of Health and Human Services and the National Institutes of Health to report to Congress on the potential benefits or harms associated with using cannabis.
https://www.nj.com/marijuana/2022/03/us-senate-votes-to-expand-cannabis-research.html
Legalization 2.0: Massachusetts Senate approves overhaul of marijuana laws...
The Massachusetts Senate on Thursday unanimously approved the most significant changes to the state’s marijuana laws since legalization was implemented in 2017.
The package of reforms would crack down on excessive fees charged by municipalities to licensed marijuana operators, clear the way for cities and towns to approve cannabis cafes, and put more muscle behind policies meant to make the licensed pot industry equitable after decades of racially disproportionate drug arrests.
“With this bill, Massachusetts will reclaim our leadership role, carving a path to make equity a reality in the cannabis industry,” said state Senator Sonia Chang-Diaz, a Democrat, who championed the legislation as co-chair of the Legislature’s Joint Committee on Cannabis Policy. “Lowering entry costs and opening up new avenues to capital will put this multibillion-dollar industry within reach for many talented equity entrepreneurs.”
https://www.msn.com/en-us/news/politics/legalization-20-massachusetts-senate-approves-overhaul-of-marijuana-laws/ar-AAVYHqZ
Aurora to $5 tomorrow!?..
SOBs fking it up, constantly, min by min, hr by hr day after day, manipulating all Cannabis/hemp/cbd stocks, they are not learning lesson how fast cannabis stocks can run high when it does!!...Congress to Senate vote was a huge fked up manipulative event and hence whole sector was crashed again since it tried to rally couple weeks ago due to the voting event, the same voting event turned as buy rumor sell news by mainstream fking media talking senate vote may this and may that...fk!...sector now is in that perilous down fall, but watch out for a real turn around coming soon!!
Aurora Cannabis Inc is a vertically integrated cannabinoid company that caters to the medical and consumer markets. The stocks are traded under the symbol ‘ACB’. The company was incorporated as Milk Capital Corp on December 21, 2006. Aurora Cannabis Inc (TSX: ACB) created a buzz in the Canadian market on Tuesday after it announced to acquire TerraFarma Inc, which owns Thrive Cannabis.
Noticing some higher management leaving Aurora Europe. Might not be a bid deal, I have not looked around to make assumptions why... just Noticing one left in January and another in March. Because they didn't have a break in work, my guess is they left.
Baa. Maybe I shouldn't have said anything
Should be another good week. Being acb is focused on medical, we may have certain advantages with the bill that imo Should pass.
Very good indeed
Over $5.00 AH-- crazy =)
*I didn't hit the bottom (it dropped down $2.78 after I bought) At that point I backed away and didn't look till the open, and my joy =)
I didn't hit the top either, and kept a few with stops @3.24
It appears to be leveling out. So, we wait =)
*I just set alerts on stocks I follow. I got an alert, saw the big dip, didn't see anything wrong more than usual (to keep everyone happy).
Seems so, that news did not occur when I made my breakout alert..!. May be end of day news I think, but it had a after hour spike to$4 and above, todays close will be above 4!.
6k filed on the pr too.
https://sec.report/Document/0001279569-22-000406/
Man, if you are still holding, you're doing awesome!
really nice things going on. Seems the new ceo continues to do what he says.
So in the press release that came out a but ago...
"Transaction will provide immediate positive Adjusted EBITDA to Aurora, and support the Company's path to Adjusted EBITDA profitability in the first half of fiscal 2023."
printFont size A A A
Aurora Cannabis Advances Premiumization Strategy by Acquiring Thrive Cannabis, and its Award-Winning Greybeard Brand, in a Margin Accretive Transaction
6:06 PM ET 3/22/22 | Dow Jones
-- Thrive's highly experienced and trusted cannabis team in craft
cultivation, product innovation, and operational execution will lead
Aurora's Canadian recreational business
-- Expands Aurora's brand offering with Greybeard, an award-winning,
super-premium, high margin brand regarded for its budtender appreciation
-- Transaction is expected to close in Aurora's Q4 fiscal 2022, contribute
immediate positive EBITDA and support Aurora's goal to reach EBITDA
profitability in the first half of fiscal 2023
NASDAQ | TSX: ACB
EDMONTON, AB, March 22, 2022 /CNW/ - Aurora Cannabis Inc. (the "Company" or "Aurora") (NASDAQ: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, is pleased to announce today that the Company has reached an agreement to acquire all of the issued and outstanding shares of TerraFarma Inc. (parent company of Thrive Cannabis) ("Thrive") (the "Transaction"). The Transaction is based upon aggregate consideration of $38 million (the "Initial Consideration") payable in cash and Aurora common shares ("Aurora Shares"), plus two earnout amounts (the "Earnout Consideration") payable in Aurora Shares or cash (at the election of Aurora), if applicable, based on Thrive achieving certain revenue targets within two years of closing of the Transaction.
The Transaction is expected to strategically strengthen Aurora's position in the Canadian market by placing the Thrive team in charge of Aurora's Canadian recreational portfolio, advancing the shift in focus to innovative premium products including dried flower, pre-rolls, vapour products, and concentrates. The Transaction is expected to close, subject to customary closing conditions, in Aurora's fiscal Q4 2022. It is anticipated that the Transaction will provide immediate positive Adjusted EBITDA to Aurora, and support the Company's path to Adjusted EBITDA profitability in the first half of fiscal 2023.
Founded in 2018, Thrive is a licensed producer of super-premium cannabis concentrates and craft dried flower, and leverages innovative cultivation and extraction techniques with a singular focus on achieving the highest quality standards. Thrive is most widely known for its award-winning flagship recreational brand, Greybeard Cannabis Co. ("Greybeard"), which amongst other accolades was recognized as the #1 brand recommended by Canadian budtenders in 2021, and was the 2021 winner of Best Concentrate from the Kind Magazine Awards, as voted for by budtenders.
Management Commentary
"As consolidation among licensed producers accelerates, it's vital that any transactions we make, now or in the future, be strategic, accretive, and centred around adding exceptional talent and brands that align with our path to profitability," said Miguel Martin, Chief Executive Officer of Aurora. "In these respects, Geoff and the Thrive team have a track record seldom found elsewhere in the Canadian market. They are truly exceptional cultivators who have gained trust with consumers and developed products that have been recognized and acclaimed by Canadian budtenders and industry peers. We see a unique opportunity to leverage their expertise to deliver near and long-term benefits for both our recreational and medical markets," he continued.
"This transaction supports our path to profitability while ensuring that we are strategic in our M&A activity. Thrive's achievement of positive standalone EBITDA, combined with their exceptional operational and brand capabilities, truly set them apart, and we look forward to leveraging their expertise as we embark together on Aurora's path to profitability, " he concluded.
"We are excited to be joining a team that shares our vision for delivering the highest quality, premium cannabis products to consumers in a way that generates sustainable profitability," said Geoff Hoover, Chief Executive Officer of Thrive. "We look forward to combining our best-in-class products and innovation pipeline with Aurora's depth of operational capabilities, robust route to market and shared focus on superior science and genetics that is critical for advancement in this sector. This combining of two great companies will be transformative."
Strategic Rationale
Supports Aurora's Timeline to Profitability with Positive and Growing EBITDA: Transaction is aligned with Aurora's plan to achieve profitability in H1/FY23 on an Adjusted EBITDA basis. Thrive has achieved positive standalone EBITDA in the last 12 months ended December 2021, with additional cost synergies expected to drive further EBITDA growth.
Acquisition of Two Leading Cannabis Brands Synonymous with Quality & Consistency: Thrive adds two new brands to Aurora's portfolio, both of which have rapidly gained market share over the last twelve months and are expected to flourish with additional resources on Aurora's platform:
Greybeard is an ultra-premium, high-terpene, high-potency brand with a world class lineup of concentrates that has quickly developed recognition with budtenders and cannabis connoisseurs. Concentrates are produced using a proprietary hydrocarbon extraction and refining process that maximizes the cannabinoids and terpene content, resulting in aromatic and flavourful products that highlight the unique characteristics of each strain. Greybeard also utilizes industry leading cultivation practices to offer super-premium, small batch, AAAA quality dry flower and pre-rolls, featuring large pristine buds grown in its indoor facilities.
Being Cannabis is a wellness-oriented brand known for their sublingual THC and CBD strips. These fast-acting and precisely dosed sublingual strips dissolve under the tongue and don't require any accessories or preparation.
Addition of Highly Experienced Management Team with Leading Operational and Cultivation Expertise: Transaction will add a talented management team comprised of industry veterans with leading cannabis cultivation, extraction, and product development expertise. The Thrive team leading Aurora's Canadian recreational business will drive significant improvements to the consistency, quality, and yield of Aurora's cannabis products across the portfolio.
Robust Product Pipeline Led by Expansive Genetics Library: Thrive brings a genetics library that has consistently delivered 24%+ THC potency, high yielding (80g+ / plant) and disease-resistant cultivars. These new cultivars, along with various SKUs in the development pipeline for Greybeard and Being, will deliver innovative and on-trend products to Canadian consumers.
Transaction Details and Timing
The Transaction will be effected by way of a three-cornered amalgamation whereby Thrive will amalgamate with a wholly-owned subsidiary of Aurora resulting in Aurora owning all of the issued and outstanding shares of the amalgamated entity in exchange for the Initial Consideration to be issued to Thrive shareholders on a pro rata basis at deemed price per Aurora Share equal to the volume weighted average trading price ("VWAP") of Aurora Shares on the Toronto Stock Exchange ("TSX") for the 5 trading days immediately prior to the second business day prior to the effective date of the Transaction. The sum of $3 million of the Initial Consideration is subject to a holdback to be released on the 18-month anniversary of the closing of the Transaction subject to adjustment for any indemnification claims. The Earnout Consideration consists of up to $10 million for satisfying certain near-term revenue targets and up to $20 million for satisfying certain long-term revenue targets within 2 years of the closing of the Transaction, each payable in cash, Aurora Shares or a combination of both (at the election of Aurora).
The number of Aurora Shares to be issued under the Earnout Consideration, if any, will be calculated based on a deemed price per Aurora Share equal to the VWAP of Aurora Shares on the TSX for the 5 trading days immediately prior to the applicable earnout payment date.
The Transaction is subject to receipt of regulatory, third party and Thrive shareholders' approvals and other customary closing conditions and expected to close in Aurora's fiscal Q4 2022. Lazard Canada Inc. is acting as exclusive financial advisor to Aurora in connection with the Transaction. McMillan LLP is serving as legal counsel to Aurora.
About Aurora Cannabis
Aurora is a global leader in the cannabis industry, serving both the medical and consumer markets. Headquartered in Edmonton, Alberta, Aurora is a pioneer in global cannabis, dedicated to helping people improve their lives. The Company's adult-use brand portfolio includes Aurora Drift, San Rafael '71, Daily Special, and Whistler, as well as CBD brands, Reliva and KG7. Medical cannabis brands include MedReleaf, CanniMed, Aurora, Whistler Medical Marijuana Co, and Pedanios. Driven by science and innovation, and with a focus on high-quality cannabis products, Aurora's brands continue to break through as industry leaders in the medical, performance, wellness and adult recreational markets wherever they are launched. Learn more at www.auroramj.com and follow us on Twitter and LinkedIn.
Aurora's common shares trade on the NASDAQ and TSX under the symbol "ACB" and is a constituent of the S&P/TSX Composite Index.
About Thrive Cannabis
Founded in 2018, Thrive Cannabis is a vertically integrated cannabis company based in Simcoe, Ontario. Thrive is most widely known for its award-winning flagship adult-use brand, Greybeard Cannabis Co., which specializes in premium quality, small-batch craft cannabis concentrates and flower products. Thrive is also known for its adult-use wellness-oriented brand, Being. The Thrive team leverage their expertise in cannabis cultivation, extraction and product development with a singular focus on delivering the highest quality standard products to consumers. Learn more at www.thrivecannabis.ca.
Forward Looking Information
(MORE TO FOLLOW) Dow Jones Newswires
March 22, 2022 18:06 ET (22:06 GMT)
Wow... at last!!..
Hello Longs!..you are going to put up that smile soon!..
Here is the breakout alert for Aurora!... Enjoy!.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=168296038
You had great timing on that purchase! I know if I purchase then I'd be struggling with the question today....should I cover a bit of the cost base at this point. I've not seen anything to indicate why the drop or the rise... but I've been swamped with my normal work.
(sic) Is that DL subterfuge for shoulda-woulda-coulda?
To be fair, it was $100k CDN=)
Woot!
This is nice and ancient.
How 'bout you modernize it in lieu of 3 day old fish concerns?
Yeah, but that is also why people are bullish as they feel it's going to get reclassified, being studies are coming out showing medical value.
Very possible. I hope it's not the case as I have seen this new ceo doing what he says he plans to do...yes..actually doing it unlike the past ceo. The reality of all this, in my opinion, will all start to get revealed soon as they did give time-lines to be ebita positive as well as when the rec market might be worth jumping back into in regards to more than where we are.
Awesome and good luck! Hopefully things swing in the right direction for both of us(up for me as I don't bet against). And yeah, it's going to be interesting to see what the heck is going on. I looked around for any real justification why these canadian stocks like acb are getting hit so hard and I'm not finding anything. What I didn't do was see if some other canadian canabis company did a pr or earnings that gave a bleak outlook..
There is no accurate guide as to how a company keeps one foot in state law, and the other in federal law.
We have a company here trying to get products to people to make them feel better on some level.
The courts need to keep up. I dare say US courts are among the world's least liberal.
I think ACB due to the extrodinary amounts of capital they've infused within the company will be just fine eventually. It's not like this has been done before and I think ACB has a leg up.
My trades don't reflect a long position. This isn't yet a long company.
I put $100k into a trade here because I knew I could buy that much stock without a dimple on any direction.
My sell point is already in.
I'm here to make money trading this stock, which is another reason I haven't been around much lately; it wasn't trading well, and now it is. Nice 10-20% swings.
I'm trying to make sense of any of this. It's not just acb but we are getting beaten up worse in my opinion. He did say any further dilution would be(don't quote me.as one should go read the cc transcript) for strategical things like aquasitions... but they were waiting as things would get more appropriately prices(he did later say 9 months is when he thought rec would be getting cleaned up). So is this further dilution we are seeing now...for an aquasition to take place (medical related) in the USA? It is plausible imo. I'm just not sure where and when this pain ends. I wish you well and they say one should be looking to buy while others are running when bargain hunting. I just need some real plausible theories before I toss more into this...Risk is too high even for me right now(and I play higher risk/longer term plays all the time)
Bearish: DEA has cannabis listed as a schedule-1 drug with no medical value.
Bought a boatload @ $3.0
Does anyone want to tell me what an idiot I am, today?
=)
I know Exactly what you're saying I was one of the idiots who refused to listen.. Insiders dumping shares saying that their house burnt down.. Management claiming to be EBTIDA positive promise after promise and never deliver and then serve up a nice reverse split.. Not to mention the 2 crooks Cam Battley and Terry Booth Robbed investors blind and have fled the scene.. Promising the Aurora sun facility to be finished and operational and instead they put it up for sale... There has been so many fleeces with Aurora I wouldn't touch it with a 10' Pole..
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