Imagine Babe Ruth pointing to the outfield fence before stepping up to the plate, confidently predicting that a home run is on the way. The pitch comes. He swings -- and hits a pop-up that's easily caught by an infielder. What a letdown that would have been, right?
That scenario isn't too terribly different from what Aurora Cannabis (NYSE: ACB) just did. In August, the Canadian cannabis producer provided guidance for its fiscal 2019 fourth quarter. It predicted net revenue between $100 million and $107 million in Canadian dollars ($76 million to $81.3 million). That range reflected impressive quarter-over-quarter growth of 59%. A home run.
Aurora stepped up to the plate after the market closed Wednesday to report its actual Q4 results. And the company failed to hit that predicted home run. Here's what you need to know.