Check that out Todd...
Some cheap shares for you...
Matt Lamers ????
@matt_lamers
To Bonno
Aurora Cannabis has now lost $5.3 BILLION since 2015.
·
10h
Replying to
@matt_lamers
Executives and investors will use this as an example of Canada's burdensome regulatory system, but this has nothing to do with that.
This is what happens when you build a business on fantasy and hype.
Matt Lamers ????
@matt_lamers
·
10h
Aurora only sold 9,722 kgs of cannabis in Q3 2022.
To put that into perspective, in 2020 Aurora boasted a production capacity of 150,000 kgs
So they were off by a little bit.
While Aurora was losing billions of dollars and firing workers en masse, Canada's federal government was showering it with cash
Aurora received $43.1 million in taxpayer money from the CEWS boondoggle, per
@Porters6thForce
research
The $100 billion CEWS boondoggle needs a national inquiry, and as much of that money should be recouped as possible.
Reminder: The biggest cannabis LPs reached into taxpayers' pockets for hundreds of millions during pandemic while firing workers en masse
My research found 6,000 people lost jobs—roughly 1/3 of the whole industry
In the days before the quarter's financial disclosure, stock analysts were furiously slashing their expectations for Aurora's sales.
Aurora still missed.
ATB for example cut its target from $53.1 million to $51.7 million.
Aurora reported net sales of $50 million.
Aurora's Q3 net sales for the past 4 years
2018: Canada legalized cannabis
2019: $65.1 million
2020: $75.5 million
2021: $55.1 million
2022: $50.4 million
Average selling price per gram: $5.31
So much for premiumization.
During the nine months ended March 31, 2022, Aurora:
- sold its recreational production facility in Uruguay
- sold production facility in Denmark
- sold a production facility in Cremona, Alberta
- sold a production facility in Saskatchewan
- sold Aurora Sun in Alberta
During the nine months ended March 31, 2022, Aurora also sold equipment worth $200k.
Maybe the question is what's not for sale?
Aurora's recreational cannabis sales are a stunning 73% off their 2020 high.
Recreational cannabis sales in canada in Q3 for the following years:
2019: $29.5 million
2020: $38.5 million
2021: $18 million
2022: $10.3 million
On the bright side, aurora sales are falling so fast they're Excise tax payables in the quarter were only $870k, down from $4.7 million 1 year ago.
Somehow Payroll liabilities rose to $15.5 million, from $9.2 million 1 year ago.
Norton Singhavon (Nort) ????????
@nort604
·10h
Replying to
@matt_lamers
It’s crazy how hard it is for Canopy and Aurora to unwind the catastrophe that Linton and Booth had created.
