This Pot Stock Says Goodbye To New York And New Mexico Markets As Its Net Loss Grows In Second Quarter
Portfolio Pulse from Nina Zdinjak
Cannabis company Goodness Growth Holdings, Inc. reported Q2 2023 financial results with revenue of $19.2 million, up from $17.4 million in Q2 2022. The company has divested its New Mexico operations and is planning to divest its New York operations. However, it reported a net loss of $7.33 million, up from $6.18 million in the same quarter of the previous year. The company's shares closed 1.93% higher at $0.1315 per share.
August 15, 2023 | 11:40 am
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Goodness Growth Holdings reported increased revenue but also an increased net loss in Q2 2023. The company is divesting its operations in New Mexico and New York, which could potentially impact its future earnings.
Goodness Growth Holdings reported increased revenue for Q2 2023, which is a positive sign. However, the company also reported an increased net loss, which could negatively impact investor sentiment. The company's decision to divest its operations in New Mexico and New York could potentially impact its future earnings, but it's unclear at this point how significant this impact will be.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100