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Cannabis Watch: Aurora stock falls as earnings show cannabis company’s investments are still the big earners

Massive demand for marijuana and a scramble to capitalize on adult recreational legalization in Canada generated more revenue for Aurora Cannabis Inc. but cost the company millions, according to quarterly results reported Monday.

Aurora ACB, -4.53%ACB, -1.71% stock fell 4.5% to $6.96 during regular trading Monday and was flat in the extended session.

The Canada-based cannabis company reported fiscal first-quarter net earnings that rose to C$105.5 million from C$3.6 million a year ago, and from C$79.9 million in the previous quarter. That fat bottom line is mostly non-cash, though, the result of Aurora’s investments in other cannabis businesses such as Green Organic Dutchman Holdings Ltd.

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