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Restructuring and changes in strategy are moves that businesses often deploy when they're facing challenges and headwinds. While Aurora Cannabis (NASDAQ: ACB) has been slashing costs and changing its operations in recent years, the company isn't out of the woods by any stretch. Among the biggest moves that Aurora has made in recent years has been to shift its business more toward medical marijuana.
Aurora Cannabis (NASDAQ: ACB) is one of the few Canadian cannabis retailers that is still seeing revenue growth, despite price compression and illegal sales negatively impacting the industry. The company is still losing money, but it appears to be edging its way toward profitability. Aurora's path to success includes branching out to international markets while focusing more on medical marijuana sales at home.
Aurora Cannabis Inc. ("Aurora" or the "Company") (NASDAQ: ACB) (TSX: ACB), the Canadian company opening the world to cannabis, today announced receipt of a notification letter (the "Notification Letter") from The Nasdaq Stock Market LLC ("Nasdaq") dated March 24, 2023, advising that the Company was not in compliance with Nasdaq Listing Rule 5450(a)(1) as the bid price of the Company's listed securities had closed at less than US$1.00 per share over the last 30 consecutive business days (the "Min