Cannabis Strategic Ventures 2020 Revenue Hits $14.6M, Up 517% YoY
Portfolio Pulse from Jelena Martinovic
Cannabis Strategic Ventures (OTC:NUGS) reported a 517% increase in revenue for 2020, reaching $14.6 million. The company saw a 975% rise in cannabis sales revenue and a 483% increase in gross profit. CEO Simon Yu highlighted improvements in product quality and distribution, while aiming to enhance operating expenses.
July 21, 2021 | 5:42 pm
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Cannabis Strategic Ventures reported a 517% increase in 2020 revenue, driven by a 975% rise in cannabis sales. The company also improved gross profit by 483% and maintained stable gross margins.
The significant increase in revenue and cannabis sales, along with improved gross profit, indicates strong business performance. This positive financial result is likely to boost investor confidence and positively impact the stock price in the short term.
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