You probably won’t have to think for very long to come up with at least a few reasons to avoid Aurora Cannabis (NYSE:ACB) stock. Just look at the company’s latest quarterly release. There was another huge loss, a major write-off of goodwill, and — scariest of all — a revenue decline that’s projected to continue into the next quarter.
That’s three reasons to include on the list. Now, after a regulatory filing from the cannabis producer last week, there are over 7 million more reasons to avoid Aurora.
Spreading the wealth
Aurora submitted its proxy circular to the U.S. Securities and Exchange Commission on Oct. 1. This proxy circular included information for shareholders in advance of the company’s annual general meeting, which will be held virtually on Nov. 12, 2020. Arguably the most intriguing details revealed in the proxy circular related to how much money Aurora handed over to its executive team in its fiscal year 2020, which ended on June 30, 2020.
Former CEO Terry Booth received total share-based and option awards during fiscal 2020 of 1.95 million in Canadian dollars. Executive chairman and interim CEO Michael Singer received share-based and option awards totaling more than CA$2.3 million.
The Canadian cannabis producer didn’t just line the pockets of the men who held the top spot. CFO Glen Ibbott raked in share-based and option