Why Aurora Cannabis Fell 20.7% in September
Aurora Cannabis (NYSE: ACB) saw its stock fall 20.7% in the month of September, according to data from S&P Global Market Intelligence. The world's leading producer of cannabis sold off after a tough month for pot stocks and unprofitable growth stocks in general. In addition, Aurora released a fiscal fourth-quarter earnings report that didn't quite match the market's lofty expectations.
In its fiscal fourth quarter, Aurora reported revenue of $99 million and an adjusted EBITDA loss of $11.7 million. Those figures disappointed analysts, as Aurora had forecast $100 million to $107 million just a few weeks prior when the quarter ended. Aurora had also given itself a target to become adjusted EBITDA-positive by the end of the fiscal year, and as you can see, it missed that goal as well.
Aurora Cannabis missed revenue expectations. Image source: Getty Images.
Source Fool.com
