Aurora shifts to survival mode with CEO change, guide down on earnings and plan to attain positive EBITDA

It was a day of big moves for Canadian cannabis giant Aurora. The company announced:

  • A new CEO and the retirement of Terry Booth.
  • An enormous current miss and guide down for next quarter.
  • Several cost-cutting measures, including layoffs.
  • Two new board members.
  • A plan to issue another $200 million worth of stock.
  • A new plan to get to positive EBITDA of $51 million in F2021.
  • Big write downs.
  • A debt restructuring.

We believe it was part of a necessary move for survival.

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