⁍ Canadian pot producer Aurora Cannabis Inc on Tuesday forecast first-quarter revenue below analysts’ estimates.


⁍ The coronavirus outbreak has made it harder for the cash-strapped cannabis industry to get investor dollars.


⁍ Aurora has laid off hundreds of employees this year, shut five facilities and amended its loan agreements.


– Shares of Canadian pot producer Aurora Cannabis plunged as much as 15% on Tuesday after the company warned that first-quarter revenue would be below analysts’ estimates, Reuters reports. The company, which is listed on the New York Stock Exchange and the Toronto Stock Exchange, said it expects net revenue to be between $45 million and $54 million for the quarter ending Sept. 30. Analysts had expected $79.6 million. Aurora said it expects an adjusted profit in the second quarter.



Source: https://www.reuters.com/article/aurora-cannabis-results/update-1-aurora-cannabis-sees-q1-revenue-below-estimates-shares-fall-idUSL3N2GJ376