Aurora Cannabis stock price movement after reporting surging sales - Business Insider

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Cannabis firm Aurora's stock jumps 19% in pre-market trade as sales surge during coronavirus

Canada-based marijuana producer Aurora Cannabis pulled off a high sales volume during the early months of the coronavirus pandemicAurora Cannabis, a Canadian marijuana business, posted an 18% increase in third-quarter revenue on Thursday, as sales surged during the coronavirus pandemic.

Shares bounced on the news, rising more than 14% during Thursday trading, and a further 19% in pre-market trading Friday.Canada-based marijuana producer Aurora Cannabis pulled off high sales during the early months of the coronavirus pandemic. third quarter revenues of $53.4 million on Thursday — an 18% jump from the previous quarter — driven by a 24% increase in sales of recreational marijuana, and a 13.5% increase of medical cannabis.

Chief executive Michael Singer said he was "pleased" with the progress made in the quarter and its commitments to reduce capital expenditures to below $71 million in the second fiscal half of 2020.

 

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