C21 Investments - Light at the end of the tunnel?Short and crisp.
Q.2 Numbers were ok. At least one cannabis company that earns money and thus the company delivers what everyone expects. Increasing turnover but above all also profits!
Weekly closing price above 0.71 CAD unlocks the next target at 0.88 CAD.
If this is also taken out at weekly closing, maybe it could run to 1.20 CAD.
If a weekly closing less than 0.71 CAD another downturn should not surprise.
Highlights
- Net sales increased 27% to $9.86 million in the second quarter compared to $7.76 million in the first quarter
- Adjusted EBITDA was $0.8 million, compared to $0.2 million in the first quarter
- Slight increase in gross margin to 44% (43% in Q1)
- The acquisition of Swell Companies was completed on May 24, 2019 and the C21 portfolio was expanded to Hood Oil and Dab Society brands.
- Hood Oi brand sold 36,000 units at the beginning of the year, with sales in excess of $1 million.
- Customer growth in Nevada to 159,932 customers compared to 139,392 in the first quarter
