Aurora Cannabis Inc. will double down on premium products after reporting an $11.9 million loss in its most recent quarter.
Miguel Martin, the chief executive of the Edmonton-based cannabis company, said Tuesday that the premium focus is coming because the recreational pot market is “bottoming” and often “irrational.”
“We are not going to chase down the rabbit hole with lower margins, particularly in the discount category,” he said in a call with investors.
“Right now, those that are chasing the discount business, I think they’re in for a little bit of a more rocky road, but the premium business is rational.”
Aurora’s focus on its premium brands come after the pot industry recently celebrated the third anniversary of cannabis legalization in Canada.
2:00 Aurora Cannabis to close facility south of Edmonton Aurora Cannabis to close facility south of Edmonton
