Why Aurora Cannabis Plummeted 28.9% in December
Shares of Aurora Cannabis (NYSE: ACB) plunged 28.9% in December, according to data provided by S&P Global Market Intelligence, after the month began with reports that it was laying off more workers and pausing operations at one of its marijuana production facilities.
Share prices across the marijuana industry were under heavy pressure as companies began scaling back operations. While the COVID-19 pandemic could have presented the legal cannabis sector with a unique opportunity for growth, it didn't pan out that way, and by December, analysts were saying that they expected sales to grow at a much slower pace than they had before.
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Source Fool.com
