Just can't seem to hash it out... Aurora Cannabis had a buzzkill year. The Canadian pot producer lost $2.5B last year and expects another sales decline this quarter. Shares sank 30% on Wednesday to a 4-year low and are down ~80% this year. Aurora has grown much more cannabis than there's actually demand for, and lower prices hurt sales. The pandemic-buying pop appears to be over, so rival Canopy's stock also dipped.
They see me rollin'... Rough week for Nikola. First, short-seller Hindenburg dropped a bombshell report accusing the e-truck maker of being "an intricate fraud." Example: a truck that Nikola described as "In Motion" in a video was actually just... rolling down a hill. Then, the SEC and the DOJ started investigating. Then, Nikola's founder resigned as Exec Chairman, potential partners reportedly stalled talks, and the stock got downgraded. Finally, Tesla claimed Nikola stole its truck designs. The stock plunged 22% for the week.