RIV Capital Q4 FY23 Revenue Declines 10.5% Hit By Illicit Market And Statewide Decline In Medical Cannabis Sales
Portfolio Pulse from Vuk Zdinjak
RIV Capital Inc. reported a decline in Q4 FY23 revenue, with net revenue of $1.7 million, down from $1.9 million in Q3 FY 2023. The decline is attributed to the illicit market and a statewide decline in medical cannabis sales in New York.
June 15, 2023 | 12:52 pm
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NEGATIVE IMPACT
RIV Capital's Q4 FY23 revenue declined due to the illicit market and a statewide decline in medical cannabis sales in New York, potentially impacting the stock price.
RIV Capital's Q4 FY23 revenue decline is directly attributed to the illicit market and a statewide decline in medical cannabis sales in New York. This negative financial performance may lead to a decrease in the stock price of CNPOF in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100