ACB - Aphria: Tumultuous
All dollar figures are in Canadian dollars unless otherwise noted.
Summary
Aphria (APHA) has had a tough winter. In December, short-sellers suggested that Aphria overpaid for some Latin American assets, which has led to the departures of two C-suite executives and has led to a $50 million impairment charge. Aphria was also the subject of a hostile takeover bid in December, although that bid has now been dropped.
Perhaps distracted by that tumultuous winter, Aphria's February quarter results were unimpressive. Revenue rose sequentially from $22 million to $74 million, but this increase was