Aurora Cannabis shares are down nearly 20% after resuming buying and selling. CNBC’s Seema Mody has the yarn.
Aurora Cannabis stated Chief Govt Terry Booth will retire and Govt Chairman Michael Singer change into intervening time CEO because the beleaguered marijuana producer announced C$1 billion ($752.Seventy nine million) in impairment costs on Thursday.
The company additionally minimize about 500 jobs, including about 25% of corporate positions.
Aurora’s U.S.-listed stock fell 13% in after-hours buying and selling. The shares had been halted earlier on Thursday.
Aurora expects impairment costs of as extraordinary as C$225 million on property and as extraordinary as C$775 million on goodwill in the second quarter, it stated. Secure earnings will be between C$50 million and C$54 million, in contrast with C$54.2 million a year ago.
For entry to dwell and original video from CNBC subscribe to CNBC PRO: />
» Subscribe to CNBC TV: n
» Subscribe to CNBC: C
» Subscribe to CNBC Classic: c
Flip to CNBC TV for the most recent stock market news and prognosis. From market futures to dwell label updates CNBC is the chief in alternate news worldwide.
Connect with CNBC Details Online
Receive the most recent news: /
Observe CNBC on LinkedIn: C
Observe CNBC Details on Fb: C
Observe CNBC Details on Twitter: C
Observe CNBC Details on Instagram: C
#CNBC
#CNBC TV
