Aurora Cannabis shares are down nearly 20% after resuming trading. CNBC’s Seema Mody has the account.
Aurora Cannabis acknowledged Chief Govt Terry Booth will retire and Govt Chairman Michael Singer turn out to be intervening time CEO because the beleaguered marijuana producer announced C$1 billion ($752.seventy 9 million) in impairment prices on Thursday.
The firm also lower about 500 jobs, including about 25% of corporate positions.
Aurora’s U.S.-listed stock fell 13% in after-hours trading. The shares have been halted earlier on Thursday.
Aurora expects impairment prices of as noteworthy as C$225 million on resources and as noteworthy as C$775 million on goodwill within the second quarter, it acknowledged. Compile income will seemingly be between C$50 million and C$54 million, in contrast with C$54.2 million a year ago.
For obtain admission to to stay and fresh 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 fresh stock market news and prognosis. From market futures to stay impress updates CNBC is the chief in change news worldwide.
Join with CNBC News Online
Procure the most fresh news: /
Apply CNBC on LinkedIn: C
Apply CNBC News on Fb: C
Apply CNBC News on Twitter: C
Apply CNBC News on Instagram: C