C21 Investments FY23 Net Income Drops 97%, What About Adjusted EBITDA?
Portfolio Pulse from Vuk Zdinjak
C21 Investments Inc. reported a 12% decrease in revenue to $28.9 million and a 97% drop in net income to $293,211 for FY 2023. Adjusted EBITDA was $7.4 million, down from $12.4 million in FY 2022. The British Columbia Securities Commission issued a cease trade order, which will be revoked on June 15, 2023.
June 14, 2023 | 2:11 pm
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NEGATIVE IMPACT
C21 Investments' FY23 financials show a significant decrease in revenue, net income, and adjusted EBITDA. A cease trade order was issued but will be revoked on June 15.
C21 Investments' financial performance in FY23 was significantly weaker compared to FY22, with revenue, net income, and adjusted EBITDA all decreasing. This could negatively impact investor sentiment and the stock price in the short term. Additionally, the cease trade order, although temporary, may also contribute to negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100