Heavy Day - Today's volume of 20,273,405 shares is on pace to be much greater than ACB's 10-day average volume of 7,106,872 shares.
ACB Price
$5.46
Day's Change
-1.86 (-25.41%)
September 23, 2020 12:58pm ET
ACB Fiscal 2021 Q1 guidance sees net revenue of $60M-$64M vs. $67.5M in the just-reported 2020 FQ4.
For 2020 FQ4, the company lost $1.9B; for all of fiscal 2020, ACB lost $3.3B.
I am shocked ACB isn't under $1 yet. They cannot cut enough expenses and grow enough revenues to meet somewhere in the middle to reach profitability.
No cannabis company needs all of this:
Numbers are in millions:
Buildings / 531
Land/Improvements / 38
Machinery/Equipment / 170
Construction in Progress / 374
Other Prop./Plant/Equip.' / 113
Prop./Plant/Equip. - Gross / 1,225
Accumulated Depreciation / (170)
Prop./Plant/Equip. - Net / 1,055
These assets are the anchor dragging down the sinking ship. Given Canada's cannabis over supply, these assets are virtually valueless given they only generate annual revenues of 25% of the total assets.
ACB is a broken company. Thank heavens Aphria pulled the plug on the merger.
