- Shares of Aurora Cannabis (NYSE, TSX: ACB) rocketed as much as 70% intraday on Friday as investors embraced stronger than expected sales.
- Aurora also re-announced clearer path to profitability.
- Aurora Cannabis reported 35% quarterly net sales increase to $75.5 million recently.
- Aurora Cannabis narrowed its adjusted EBITDA loss – progress towards profitability.
- The company saw sales strength from its value priced dried flower.
“The company has started to deliver on its reset, with cost cuts and capex in line with guidance, while delivering above-market average growth and maintaining leadership in key segments,”Pablo Zuanic – Cantor Fitzegerald