Aurora Cannabis (ACB.US) stock surges over 9% despite the fact that the company posted mixed quarterly figures. Canada-based cannabis producer posted lower sales, but a smaller loss in the fourth quarter of 2021 than a year earlier. The company reported total net revenue of C$54.8 million ($43.4 million), which was flat sequentially and down 19% year over year. Analysts expected revenue of C$56.4 million. The company cited Covid-19 restrictions as a key reason for the drop. However, the company's medical cannabis revenue recorded a 9% increase year over year to C$35 million mainly thanks to 88% growth in its international medical business. Meanwhile, the company's EBITDA loss improved to C$19.3 million from a loss of C$33.3 million a year ago. Aurora Cannabis CEO Miguel Martin said, “We are now delighted to announce a long-term supply agreement with Cantek in Israel that we expect to provide us with a steady stream of high-margin revenue that could also evolve into a larger partnership over time".
Aurora Cannabis (ACB.US) stock rose sharply during today's session and is heading towards a major support zone around $7.18 which is marked with the upper limit of the 1:1 structure, 200 SMA (red line) and upper limit of wedge formation. Source: xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
