Finance – Lost Nomad Wed, 22 Sep 2021 13:20:55 +0000 en-US hourly 1 Finance – Lost Nomad 32 32 21.2 Million Reasons Aurora Cannabis Is A Terrible Stock Thu, 11 Mar 2021 06:19:01 +0000

If you thought the stock market had taken off in the past two months, take a closer look at how marijuana stocks have evolved since early April 2019. After the first quarter of 2019, which saw many cannabis stocks explode . in the stratosphere, the last 13 months have erased from 50% to 95% of cannabis stock valuations.

Note that the long term prospects for the legal cannabis industry are bright. Tens of billions of dollars in black market sales are made every year, which means there is a very real opportunity to move these illicit users to legal channels over time. But in the short term, stocks of U.S. jars were crushed by high tax rates, as Canadian cannabis companies faced bottlenecks and shortages, according to the province.

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Aurora Cannabis disappointed investors’ ‘high’ expectations

Maybe not broth stood out more for all the wrong reasons than Aurora Cannabis (NASDAQ: ACB). Aurora Cannabis was the most held stock on the Robinhood millennial-focused investment app for months on end, but is down almost 92% since mid-March 2019. For new investors who get a first look at what investing is purchase and conservation, Aurora set a bad example.

At one point, it was a company that seemed to be on track to dominate Canada with its peak annual production, and it was a projected leader in international expansion. The company’s 15 production sites, if fully built and operational, are expected to generate at least 660,000 kilograms per year, with Aurora having a production, export or research presence in 24 additional countries, beyond from Canada. In short, it had to be a low-cost production giant that countries would line up with to sign wholesale supply agreements.

Aurora Cannabis was also expected to land a brand partner and / or an equity investor as a result of the Billionaire activist investor Nelson Peltz hires as a strategic advisor. Peltz’s track record leans heavily towards consumer packaged product companies in the food and beverage industries, which would make him the perfect match for forging a partnership or capital investment between a branded company and Aurora Cannabis. .

Unfortunately, none of those far-fetched expectations even came close to hitting the mark. In fact, every two weeks it seems Aurora Cannabis gives investors another reason to sell and not look back. This week I have a whole new reason … or should I say nearly 21.2 million of them … why Aurora is such a terrible stock.

A businessman in a suit pressing the sale button on a digital screen.

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21.2 million more reasons why you should avoid Aurora Cannabis like the plague

Over the past five months, the Aurora Cannabis share price has lost 71% of its value and has steadily fallen below $ 1 on the New York Stock Exchange (NYSE). Aurora is adopt a reverse division 1 to 12 in the coming weeks to come into compliance with the NYSE to avoid delisting. All the while, Aurora’s press releases have suggested that while the short term remains difficult, the company remains on track to execute for the long term.

But do you know what is missing over the past five months? Executives put their money where they say it is and align their interests with those of their shareholders. With the exception of former CEO Terry Booth who acquired 73,500 shares between $ 2.06 and $ 2.09 in early January, there has been no insider buying at Aurora Cannabis.

On the other side of the coin, sales have been plentiful. After Booth stepped down as CEO, he sold nearly 12.2 million shares of his holdings in mid-March, at an average price of $ 0.66 to $ 0.91 per share. Just over a week later, Aurora chairman Steve Dobler sold 8 million shares for between $ 0.70 and $ 0.72. Additionally, in mid-December, independent director Jason Dyck sold nearly 1.1 million Aurora shares for $ 2.35. In total, that’s about 21.2 million Aurora shares sold by company insiders and 73,500 shares acquired as Aurora’s share price fell another 71%.

Though there is a number of reasons insiders might choose to sell stocks, including to cover their income tax, such a crushing sell-off in the face of unprecedented share price weakness does not really inspire hope in management’s message that the company remains on track.

A person holding a magnifying glass over a company's balance sheet.

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Aurora Cannabis’ toll is a house or horrors

If that isn’t enough to keep you away from investing in Aurora Cannabis, just dive into the company’s balance sheet and I’m sure you’ll be convinced. From top to bottom, it’s a house of horrors.

First, we see a company that lack of sufficient capital to meet future obligations. When filing its MD&A in mid-February for the second fiscal quarter ended December 31, 2019, it was estimated that the liability over the next 12 months would total nearly C $ 374 million. But according to a recent press release, Aurora Cannabis only had C $ 205 million in cash and cash equivalents on its balance sheet.

In order to raise additional liquidity, the only recourse of the company has been to issue common shares. Having recently completed a $ 400 million (US) market share offering (ATM), the company has announced its intention to launch a $ 350 million ATM offering moving forward. Or, to sum up, Aurora has swelled its stock count from 16 million to 1.31 billion in less than six years, and its management team now has the green light to continue to dilute existing shareholders by issuing up to 479. million additional shares (based on a close of $ 0.73).

It is also a business that is hugely burdened with goodwill – that is, the premium paid for acquisitions beyond tangible assets. Even after goodwill impairment of C $ 762.2 million in the second fiscal quarter, Aurora Cannabis still has approximately C $ 2.41 billion of goodwill on its balance sheet. This is practically double its current market capitalization and represents 52% of total assets. As the company has virtually no chance of recovering this bonus in the future, I consider another significant impairment as highly probable.

To sum up, there are no good reasons for investors to bet on Aurora Cannabis.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are heterogeneous! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.

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New Magnolia flag designers share concept history Thu, 11 Mar 2021 06:19:01 +0000

JACKSON, Miss. (WLBT) – We have followed updates in the process of selecting a new state flag design. This week, the commission narrowed it down to two models.

The New Magnolia flag draws from different sources. Rocky Vaughan, from Ackerman, Mississippi, is a graphic designer who began imagining a new flag design seven years ago.

“It’s weird to take the credit when there are other inputs, but I will claim the basic ingredients,” Vaughan said. “I will do it.”

His submissions changed the vertical lines he used to horizontal ones after hearing the flag expert. Always…

“They kept the core and I’m happy to have my name on it,” Vaughan added. “So let’s hope a Mississippian can take him home.”

As for symbolism, this is what he said:

“I didn’t want to think too much about this thing. I didn’t want to think too much. I didn’t want to do my homework. I didn’t want to spend nights at the library. I didn’t want to do anything. I don’t need any help or research to symbolize the state of Magnolia. It’s already there, isn’t it?

Another designer, Sue Anna Joe, is on the list. She is originally from Greenwood and now lives in San Francisco.

“I felt it was my civic duty to contribute because I still love my home country and the people there,” Joe said. “And I wanted to give something back to where I grew up.”

She too knew the symbol she considered “home”.

“There’s the magnolia blossom that’s in the middle,” Joe added. “This is my original work of art that I drew on the computer. In my original design, it is also in the center of the flag, but there are different elements around it.

Oxford resident Kara Giles is the other designer. She is one of the artists recruited by the Commission and has worked on several designs.

“I’ve worked on a lot of different designs, both changes to the submitted flags and original designs, and I’ve always been drawn to Sue Anna Joe’s Magnolia,” said Giles. “I think it’s a really solid design that’s instantly recognizable as a magnolia tree but is also fresh, modern, and stylish.”

She went on to say, “I adjusted him in the cheesecloth, but otherwise I kept his magnolia only in tact. I think the magnolia juxtaposed with the strong font and the circle of stars, anchored by the First Peoples star, gives a very nice design. The two choices for the flag are strong designs and I really think the board has two great options. “

Giles adds that she is proud and humble to be a part of this process.

The public poll is now on the site of the Mississippi Department of Archives and History. The commission will select the drawing that will appear on the November ballot on Wednesday, September 2.

Copyright 2020 WLBT. All rights reserved.

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9 tips for job seekers with bad credit Thu, 11 Mar 2021 06:19:01 +0000

As the recession continues, the unemployment rate continues to climb among people from all economic backgrounds, as do foreclosures and bankruptcies. To add insult to injury, more and more employers are performing credit checks on potential employees as a standard part of the selection process.

The good news is that you can still find a good paying job even if you have lousy credit. Paradoxically, “admitting to past credit errors can even offer you a chance to soar above other candidates in the eyes of your future boss.”

Here are some ways to improve your chances of finding your next job despite past credit problems.

1.More and more employers are performing credit checks on job seekers.

Credit reports are a critical part of the hiring process in industries where employees – from bank tellers and armored truck drivers to accountants and finance managers – routinely handle large sums of money during their day. In industries where this is not the case, an employer may still perform a credit check to help determine what type of employee will be a candidate, since a good credit history can give insight into a person’s character and level of maturity. “A person who pays their bills late, whose accounts have been turned over to collection agencies or who have declared bankruptcy is rightly or wrongly considered a person with less integrity,” says Susan Wilson Solovic, author of “Reinvent Your” Career: Attain the Success You Want and Deserve.

2.Be the first to lift it.

A credit check usually takes place after the first interview – an employer wouldn’t invest the time and money unless you’ve taken the first hurdle – although sometimes the first time you hear about it might be when you are offered the position. Either way, get busy. “It’s best to talk to an interviewer about your credit history as soon as possible,” says Dianne Gubin of Tech Exec Partners, a recruiting firm in Calabasas, California. interview process. Your disclosure should go far beyond your credit history. “Besides credit issues, I also advise applicants to speak to an interviewer about anything that might arise during a background check,” she adds. Kimberly Schneiderman, a New York-based job search consultant, agrees. “Employers will see that you have the integrity to take on a potentially embarrassing situation, and that will also underscore your frankness and honesty, which are two attributes that are highly valued in most jobs,” she says.

3. Demonstrate a strategy.

Once you’ve revealed the true state of your credit history to a potential employer, it’s time to show off the steps you’re actively taking to improve your credit, from paying down debt to refinancing your mortgage. Solovic suggests that you go one step further and bring your own copy of the credit report for the interview. “It clearly shows that you are not trying to hide anything,” she says.

4. Have a explanation ready.

If your credit has been damaged for personal reasons and not for irresponsible behavior, this can help you get a pass. For example, if you or a family member were out of work for an extended period, or if your unemployment benefits were depleted, a potential employer may ignore a bad credit report. Likewise, if a medical situation is causing your credit to deteriorate, whether it’s you or a family member, an employer can empathize.

5. Preselect the company and the position.

If you don’t want your credit history to determine your potential as an employee, always avoid employers who rely on them. It stands to reason that state, federal and local governments will automatically prepare a credit report on a prospective employee, especially if the position requires security clearance; any company that contracts to do business with the government will likely do the same. However, some companies that do credit reports on potential hires only do so for mid-level or higher-level jobs. On the other hand, even the lowest level position in some companies may require a credit check. “If a business is regulated in any way, such as a nonprofit, it will be more likely to file a credit report,” says David Couper, a career coach in Los Angeles.

6. Target small businesses.

Small businesses with only a few employees and businesses with high turnover are less likely to perform credit checks on future hires. They don’t have the time or the resources.

7. Rely on your personal relationships.