Author: Vitaliy Dadalyan

The Week In Cannabis: Aurora's Earnings Disappointment, Michigan's Great Week, And More

This was a tough week for cannabis stocks, with all ETFs down driven by disappointing earnings reports.Over the five trading days of the week: * The ETFMG Alternative Harvest ETF (NYSE: MJ): lost 6.8% * The AdvisorShares Pure Cannabis ETF (NYSE: YOLO): was down 7% * The Cannabis ETF (NYSE: THCX): was down 9% * The Amplify Seymour Cannabis ETF (NYSE: CNBS): tumbled 3.8% * The SPDR S&P 500 ETF Trust (NYSE: SPY) was down 0.4%.The news was dominated by Aurora Cannabis Inc. (NYSE: ACB)'s fourth-quarter earnings report. The Edmonton, Canada-based company said it lost more than CA$3.3 billion ($2.5 billion) in the fiscal year closing Tuesday.Total net revenue of CA$72.1 million ($54.1 million) signified a 5% drop from the previous quarter. Net revenue for consumer cannabis in the recreational market was CA$35.3 million ($26.7 million) dropping 9% from the previous quarter. Medical cannabis net revenue was $32.2 million ($24.2 million),...