Miguel Martin, CEO of Aurora

CAN: "Canada's adult-use market is completely irrational"

"At least for the moment, Canada's adult-use cannabis market is completely irrational," said Aurora Cannabis Inc.'s Chief Executive Officer Miguel Martin. "When you have situations where, with 28-gram discount flower, people are losing money, you've got to choose: do you want to be profitable or do you want to have a 15% market share?" 

Aurora is promoting itself as a maker of premium products with extra care towards creating cannabis plants with one-of-a-kind genetics that it can leverage with intellectual property licensing to other producers while being unique enough to convince Canadian budtenders to recommend its offerings over its competitors. 

"I've got a ton of respect for the small craft growers. They're doing well because they're doing a good job," Martin said. "We're losing, and others are losing to them because they're good - not because they're small or because of any other reasons. We've tried to learn from them. Some of the things we're doing with our new genetics looks a lot like what we see [with craft growers]." 

It remains to be seen whether investors remain patient enough to see Martin's plan for Aurora be fully realized. MKM Partners Analyst Bill Kirk said that Aurora's current growth from its international business and medical cannabis sales is not sustainable over the long term.

Read the complete article at bnnbloomberg.ca.

 


Publication date:



Receive the daily newsletter in your email for free | Click here


Other news in this sector:


Twitter Rss

© MMJDaily.com 2021

Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber