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Why Aurora Cannabis Stock Popped Today

TheMotleyFool

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Shares of marijuana company Aurora Cannabis (NASDAQ: ACB) jumped 3% as of 3 p.m. ET on Monday.

You can thank its competitor Tilray (NASDAQ: TLRY) for that.

In a surprise announcement this morning, Tilray said it was able to cut so much cost from its reverse merger with Aphria last year that it ended up earning $6 million in its fiscal second quarter 2022 -- versus losing $89 million a year ago. Additionally, the company said revenue for the quarter increased 20% year over year to $155 million, with "strong" adjusted gross margins of 43%.

Source Fool.com

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