Aurora cannabis (ACB) – Get the report CEO Miguel Martin sat down with TheStreet to discuss his company’s second quarter results.
Cannabis stocks have shown tremendous volatility this week as the retail investor revolution hit the cannabis industry. However, Martin believes the real cannabis story has to do with the company’s fundamentals, which he improves upon as Aurora focuses on the high-margin medical cannabis business.
“Medical cannabis really is the foundation of what Aurora is about. We had a great quarter in Canada and internationally,” Martin told TheStreet.
However, while medical cannabis revenue increased 42% year over year and 16% sequentially, consumption cannabis revenue declined sequentially, which the company plans to address as well.
“First and foremost, it’s about improving the overall quality of our products … Second, it’s about introducing new products … Third, it’s about premium products and promotional products … we believe we will be on the way to expand our leisure business products, “said Martin.
The company is also bullish about the regulatory landscape in the US as the Democrats control both the Houses of Congress and the White House.
“For the same reason, we were able to penetrate markets such as Germany, Israel, Poland and the Czech Republic because of the FD conformity,” said Martin.