Share:
Canadian cannabis company
Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) posted its third-quarter of fiscal 2021 financial results on Thursday with revenue of CA$58.4 million ($48.1 million), down by 19.5% year-over-year, and 17% sequentially.
The Edmonton, Alberta-based company also revealed a negative adjusted EBITDA of CA$24 million, which compares to a loss of CA$49.6 million in the same period of the prior year. It has missed the Zack Consensus Estimates for loss per share of 17 cents, reporting a loss of 24 cents per share.
The Analysts
Following the new earnings report, Cantor Fitzgerald’s analyst
Pablo Zuanic kept a “Neutral” rating on Aurora’s stock but reduced their price target to CA$9.00 from CA$11.25.
Share:
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) announced Monday it will buy
Harvest Health & Recreation Inc. (CSE: HARV) (OTCQX: HRVSF) for a whopping $2.1 billion in an all-stock deal.
Under the merger agreement, Harvest shareholders will acquire 0.1170 of subordinate voting shares of Trulieve for each Harvest share priced at $4.79. Upon completing the merger, Harvest shareholders should hold roughly 26.7% of Trulieve’s issued and outstanding pro forma shares (on a fully diluted basis).
The Analyst
Cantor Fitzgerald’s
Pablo Zuanic kept an ‘Overweight’ rating on Trulieve’s stock but lowered the price target to $76 from $89.
The Thesis
Changes to the price target were necessary in response to the new merger and increased share count to 181 million, explained Zaunic in a Monday note.
John David Corey Jr., 57, of San Gabriel, was arrested Tuesday for setting the fire which destroyed the roof and caused other damage to the church at Mission San Gabriel Arcángel during a July 11, 2020 early morning fire. Corey is already serving a three-year sentence for a separate arson that took place three days […]
Slammed by an onslaught of universal opposition, the South Pasadena City Council on Tuesday evening withdrew
plans to appoint Christopher A. Jordan as the new City Manager. The announcement came less than 24 hours before the Council was set to approve a four-year, $225,000 annual contract with Jordan and only hours after convening a special closed session to manage the fallout.
“The City Council will not consider approval of an employment agreement with Mr. Jordan,” the city said. It will instead direct its attention to vetting the background of and negotiating terms of a deal with the only other candidate the Council interviewed for the position, whom it did not name.