Aurora Cannabis shares sink on weak results; construction halted at 2 plants in southern Alberta
Aurora Cannabis Inc. shares sank to a two-year low Friday after its revenues missed expectations and the pot producer announced it was halting construction of two production facilities to save over $190 million in planned expenses.
The Edmonton-based company’s shares fell to a low of $3.59 and were down 51 cents or 11.6 per cent at $3.87 in afternoon trading on the Toronto Stock Exchange.
Aurora announced after markets closed on Thursday that it will immediately cease construction of its Aurora Nordic 2 facility in Denmark to save about $80 million over the next year.
It is also indefinitely deferring completion of construction and commissioning at its 1.6-million square foot Aurora Sun facility in Medicine Hat, Alta. to conserve $110 million.....
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