Daily Cannabis Hit: November 10, 2021 - Grow Life 420

Daily Cannabis Hit: November 10, 2021

November 10, 2021

#KahliBuds #MMJ #CBD #THC

The Daily Hit

It’s time for your Daily Hit of cannabis financial news for November 10, 2021.

On The Site


Green Thumb Industries Inc. (GTI)  (CSE: GTII) (OTCQX: GTBIF) reported its financial results for the third quarter ending September 30, 2021. Revenue at Green Thumb increased 5.3% sequentially and 48.7% year-over-year to $233.7 million. This beat the average analyst estimate from Yahoo Finance for revenue of $231 million. The company also delivered net income in the quarter of $20 million or $0.08 per diluted share. This missed the average estimate for earnings of $0.10 per share. It was the seventh consecutive quarter of positive cash flow from operations, delivering $82.8 million year-to-date.


Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) is leaning into Connecticut by deciding to acquire Caring Nature, LLC and Connecticut Pharmaceutical Solutions, Inc., along with the closing of its acquisition of Willow Brook Wellness, LLC. Caring Nature owns an active dispensary in Waterbury, CT; Connecticut Pharmaceutical Solutions owns an operating cultivation and production facility in Rocky Hill, CT; and Willow Brook Wellness holds an active dispensary in Meriden, CT. Collectively, these acquisitions expand Verano’s presence on the East Coast with the addition of vertically integrated operations in the attractive Connecticut market. Adult-use cannabis retail sales are anticipated to begin in the state by the end of 2022.


After the market closed on Tuesday, Jazz Pharmaceuticals plc (Nasdaq: JAZZ) released its financial results for the third quarter of 2021 and updated financial guidance for 2021. Total revenues for Jazz increased 39% to $838.1 million versus last year’s third quarter. This beat the Yahoo Finance average analyst estimate for revenue of $834 million. The GAAP net loss for the quarter was ($52.8 million), or ($0.86) per diluted share, compared to $148.2 million, or $2.64 per diluted share, for the same time period in 2020. Non-GAAP adjusted net income for 3Q21 was $261.4 million, or $4.20 per diluted share, compared to $242.1 million, or $4.31 per diluted share, for 3Q20. This also beat the estimate for earnings of $3.37. The stock was moving higher by almost 2% to lately sell at $134. The average price target is $205.

Goodness Growth

Goodness Growth Holdings, Inc. (OTCQX: GDNSF) reported financial results for its third quarter ending September 30, 2021, with total revenue increasing 7.2% over last year’s third quarter to $13.4 million including the company’s former subsidiaries in Pennsylvania and Ohio. However, this was sequentially lower than the second quarter’s revenue of $14.2 million.

In Other News

Clever Leaves

Clever Leaves Holdings Inc. (Nasdaq: CLVR, CLVRW) reported financial and operating results for the third quarter ended September 30, 2021. Revenue increased 3% to $4.0 million compared to $3.9 million, driven by continued strength within the non-cannabinoid segment. All-in cost per gram of dry flower equivalent remained flat at $0.15, attributed to the sustained ramp of early-stage operations in Portugal. Gross profit increased 22% to $2.5 million, reflecting a 62.9% gross margin, a 1,000 basis point increase. Net income was $1.0 million compared to a net loss of $(6.1) million.

Nova Cannabis

Nova Cannabis Inc. (TSX: NOVC) released its unaudited condensed interim consolidated financial statements and management’s discussion and analysis for the three ending September 30, 2021. Sales of $38.7 million, a 141.9% increase from the third quarter of 2020, and a 30.2% increase from the second quarter of 2021. The company continues to be on track toward its objective of two hundred (200) stores in 2023. Nova’s total store count now sits at seventy-one (71) and the company’s revenue continues to grow with the Value Buds stores generating $3 million in annual run rate sales1 on average across the portfolio, inclusive of stores only recently opened or converted.


POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF) announced certain preliminary financial results for the third quarter ended September 30, 2021. The company expects total revenue of approximately $6.36 million, up 177% compared with $2.3 million in the third quarter of 2020.

The post Daily Cannabis Hit: November 10, 2021 appeared first on Green Market Report.


via www.KahliBuds.com

Staff, KahliBuds, 420GrowLife

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