Aurora Cannibus CEO steps down

[Hamloc]

Interesting to me how the bloom has come off Canada's Cannibus industry in the last year. Aurora announced today that they were laying off 500 of 3400 employees and that their long time CEO Terry Booth is stepping down. What really caught my eye was that Aurora's stock has lost 80 percent of it's value over the last year. I thought that legalized Cannibus was the next great industry in Canada!

[Tucker]

Interesting to me how the bloom has come off Canada's Cannibus industry in the last year. Aurora announced today that they were laying off 500 of 3400 employees and that their long time CEO Terry Booth is stepping down. What really caught my eye was that Aurora's stock has lost 80 percent of it's value over the last year. I thought that legalized Cannibus was the next great industry in Canada!

I put a couple thousand into cannabis stocks when they started. Rode them right down to worthless. Oh well, I've spent far more on worse farming and they might have gone the other way. What I can't believe is that a new store started up last week locally. Wtf would anyone build a store when this seems like a failed business. BUILD! New building! Yeah lets go shop local for far overpriced dry ditch weed.

[jimmy]

I put a couple thousand into cannabis stocks when they started. Rode them right down to worthless. Oh well, I've spent far more on worse farming and they might have gone the other way. What I can't believe is that a new store started up last week locally. Wtf would anyone build a store when this seems like a failed business. BUILD! New building! Yeah lets go shop local for far overpriced dry ditch weed.

The dopers go to the store to only buy once, it’s to get the legal package to carry their illegal dope legally.

[bucket]

Anyone asking what the value of Aurora's agristability payment will be??????

Should be enough to keep the suits in the office happy...

[Oliver88]

Anyone asking what the value of Aurora's agristability payment will be??????

Should be enough to keep the suits in the office happy...

Are you thinking Gerald Butts and friends are shareholders?

[Braveheart]

I'm not sure who makes the oral spray I use but it's become "Daddy's Little Helper".

Like Curly Bill said in the movie, "Tombstone", "I feel capital"!

[blackpowder]

Elucidation if you please.
Arthritis? Bad habit replacement? Fatigue?
Just wondering as all apply to me Lol.

[Braveheart]

Elucidation if you please.
Arthritis? Bad habit replacement? Fatigue?
Just wondering as all apply to me Lol.

Yup. Just about covers it all. Haha

[Hamloc]

I look at the legalized Cannibus industry in Canada with its meteoric rise and relatively quick fall back to earth as a perfect example of how government fails at business unless it is a monopoly. With the amount of regulation and taxation legal Cannibus cannot compete. Everybody thought Justin Trudeau's legalization of recreational Cannibus would be a licence to print money not so much. Look at the CWB, at the time there were suggestions of creating a dual market but the powers at be in the CWB felt they had to have a monopoly, if as was and is claimed by some that farmers recieved more under the CWB couldn't it have been competitive? As we see with legalized Cannibus government can't help itself and builds in too many layers which push the price too high.

[Blaithin]

It needs time to balance. Too many jumped on the bandwagon and opened stores and chains. There’s at least 3 or 4 stores in Olds.... I know that’s a college town but that’s almost more pot stores than liquor stores! Who would ever think demand would be so instantly high as to support that much business.

Not to mention most people in this local area bug their products online. No need to go to the stores.

Eventually it’ll even out to what the demand actually is instead of just the flooded market of ridiculously similarly named stores.

[hobbyfrmr]

I worked on a hemp/cbd project in eastern Europe. One of the team members was a guy who grew up growing selling pot for 25 years in Kelowna BC. He was the extraction and marketing specialist. Driving out to “the farm” every morning he explained the Canadian cannabis culture. Over the years there are many many people who grow marijuanna to sell for walking around money. We are talking about grandmas growing the best strains for fun and walking around money. Like prize tomatoes, they would grow them with care and over time gained a reputation for quality. Top quality was how you sold to a dispensary.
There has been medical grade extraction for about a decade.
The BC dispensaries have been built and operational for up to 15 years. All the government had to do was embrace the existing industry, mandatory testing and labelling (already being done for a decade), charge them a license fee, tax the production and make money.
Typical government, over regulate waste money on police raids trying the shut down the black market competition.
Everything he described unravelled my prairie farmer ignorance and so far has proven himself exactly right.
He very specifically explained why these corporate grows would fail in Canada.
I remember his conclusion “the government will overcharge and underdeliver contaminated poor quality marijuanna. The Government of Canada will be the only people in the world to lose money selling pot.”
As described in previous posts, the market does have to find its place. Cannabis stocks were extremely overvalued and there were many analysts forecasting this correction.
At the Canadian hemp conferences, the last couple of years the industry had companies making presentations how to commoditize the hemp biomass farmers could collect and sell to the industry. That does not thrill me, it sounds like the same old “primary producer” song and dance.
I have had some really optimistic conversations with a lot of ambitious people about hemp and cbd. The common denominator is not one single company will put money down, up front, to the farmer.

[the big wheel]

Government legalizing pot has just moved the criminal entities from marijuana up to coccain, meth, opioid etc. It’s rampant now everywhere but has exploded in small town Saskatchewan.
It also has increased the level of problems with pot by making it so much easier for many to get addicted rhat never would have because it was illegal they never would have tried it in the first place.
Headlines of major drug busts almost monthly and the bar what is considered major is rapidly rising. Millions of dollars guns prostitution rings theft rings all tied together.
Legalization just put gas on an already problem area of our society.