Well, it was a relatively dismal quarter for Aurora Cannabis. No doubt you’ve seen GoBlue’s fulsome rundown by now, and we’ll see the impacts of impairments and conversions in our graph below.

We mused last time about the inevitability of addressing the goodwill that had accumulated on the balance sheet, and some 25% of it has now come off the books.

Overhang has followed suit as share price has declined considerably since last November.

The decision for impairment was perhaps in the works prior to Terry Booth’s departure – perhaps not. Whoever the new permanent CEO is – they will ultimately have to either impair or realize the remaining $3 billion.

The preceding is the opinion of the author, and is in no way intended to be a recommendation to buy or sell any security or derivative. The author holds no position in $ACB.