2 Reasons Aurora Could Recover From Significant Pruning
Aurora Cannabis (NASDAQ: ACB) announced in early June an additional round of cost-saving measures as part of its business transformation plan that has already brought on major adjustments to the company in the past two years. Aurora's shares dropped throughout June after it bought back millions of dollars in convertible debt, announced it would close a major facility, and laid off a huge chunk of its workforce. All this is bad news for the international cannabis operator -- but a strong showing in Europe's medical cannabis market, and its major presence in Canadian medical cannabis, should provide long-term hope amid the short-term gloom.
Aurora unveiled its business transformation plan in February 2020, and updated them four months later, announcing that it was:
Even as the company closed some of its Canadian operations, it increased production in its Denmark facility in an effort to supply the EU medical market. These moves were just the beginning of its actions over the next two years.
Source Fool.com
