Canadian Weed Company Adastra Reports Triple-Digit Q1 Revenue Growth, What's Behind The Figures?
Portfolio Pulse from Jelena Martinovic
Adastra Holdings Ltd. reported Q1 2023 gross revenues of CA$9.5 million ($6.98 million), a 315% YoY increase and 39% QoQ increase. The company's CEO attributed the growth to market demand and nationwide presence. Adastra also received approval from Health Canada to produce and sell cocaine.
May 31, 2023 | 5:36 pm
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Adastra Holdings reported strong Q1 2023 revenue growth and received approval to produce and sell cocaine, potentially expanding its product offerings.
Adastra's significant revenue growth in Q1 2023 demonstrates strong market demand for its products and nationwide presence. The approval to produce and sell cocaine could further expand its product offerings and revenue streams, potentially having a positive short-term impact on its stock price.
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