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Aphria Posts Bigger-Than-Expected Loss Even As Customers Stockpile Cannabis

Lack of profitability has been a major concern

Canadian pot producer Aphria Inc. on Wednesday posted a bigger-than-expected quarterly loss and took impairment charges on some foreign assets, as coronavirus-related lockdowns disrupted tourism and supply chains.

U.S.-listed shares of the company fell about 4 percent in premarket trading.

Lack of profitability has been a major concern for cannabis investors as companies have largely failed to deliver on initial promises of boundless growth in the nearly two years since Canada legalized recreational marijuana.

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