It seems counterintuitive on the surface – bet on a market that’s been around for years rather than following the herd on flashy adult-use cannabis and fantasies of hundred-billion-dollar markets.
But Aurora Cannabis did just that three years ago, wagering its future by betting on medical cannabis at a time other companies were wagering on recreational marijuana, which Canada legalized in 2018.
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It’s working, and it could offer lessons to other CEOs and top executives.
The Edmonton, Alberta-based licensed producer zigged when everyone else zagged, putting the company in the enviable position of having far fewer competitors, a healthy balance sheet and organic growth in overseas medical markets.
“I knew that medical made money. And I know rec was a maybe, coulda, woulda, shoulda, but I knew we were hemorrhaging cash on rec, and we didn’t see it getting better,” Aurora CEO Miguel Martin told MJBizDaily
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