TerrAscend Delighted About Maryland's Cannabis Sales, Meet Exec Chair Jason Wild At Benzinga Conference In Chicago
Portfolio Pulse from Maureen Meehan
TerrAscend (OTCQX: TRSSF) reported positive financial results with a net revenue of $72.1 million, a 3.9% sequential increase and 12.7% YoY increase. The company's gross profit was $36.2 million, a 6.8% sequential increase and 50.8% YoY increase. The company attributed part of its success to the strong start of the adult-use cannabis market in Maryland, where it has expanded its footprint to four dispensaries.
August 14, 2023 | 10:01 pm
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POSITIVE IMPACT
TerrAscend's positive financial results and successful expansion in the Maryland adult-use cannabis market could potentially boost investor confidence and positively impact the company's stock price in the short term.
TerrAscend's positive financial results indicate a strong performance. The company's successful expansion into the Maryland adult-use cannabis market, which had $2.8 million of daily sales in July, shows potential for further growth. This could attract more investors, potentially driving up the stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100