PharmaCielo Q1 2023: Revenue Down 34.2% YoY, CEO Expects Robust Global Sales Of Cannabis Flower In 2023
Portfolio Pulse from Maureen Meehan
PharmaCielo reports Q1 2023 revenue down 34.2% YoY, but CEO Bill Petron expects robust global sales of cannabis flower in 2023. The company has expanded its global business development organization and has made progress in markets such as Germany, the Czech Republic, Portugal, Poland, and Australia.
May 29, 2023 | 12:48 pm
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PharmaCielo's Q1 2023 revenue is down 34.2% YoY, but the CEO expects growth in global sales of cannabis flower in 2023. The company is expanding its global business development organization.
PharmaCielo's Q1 2023 revenue is down 34.2% YoY, which may negatively impact the stock price. However, the CEO's optimistic outlook for robust global sales of cannabis flower in 2023 and the company's expansion into new markets could offset the negative impact and lead to a neutral short-term price direction.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100