Aurora Cannabis Inc. (ACB) in Calgary, Canada, is a global cannabis industry leader that services the medicinal and consumer sectors. However, its stock is down 83.7% in price over the past year and 70.1% year-to-date to close yesterday’s trading session at $1.62. In addition, its shares are currently trading 84.8% below their 52-week high of $10.64, which they hit on June 09, 2021.
Although the cannabis company has made noteworthy progress in broadening its portfolio by introducing new unique cultivars and increasing its foothold in the rapidly growing medical cannabis sector, it has struggled to achieve consistent revenue growth. The company’s consumer cannabis net revenue came in at $10.3 million in the third quarter, ended March 31, 2021, down from $14.4 million in the prior quarter, owing primarily to industry-wide price pressures across the company's portfolio and exacerbated by retail outlet closures for its premium products in key provinces.
