Colorado Cannabis Company Projects $1.03M Revenue In Q2, Explores Opportunities In Germany
Portfolio Pulse from Nina Zdinjak
CBD of Denver, Inc. (OTC:CBDD) projects $1.03 million in Q2 revenue, up from $720,000 in the same period of 2023. The company is exploring opportunities in the German market through its subsidiary Luxora, which has received positive engagement for a cannabis testing device. Despite challenges in its wholesale business, the company is focusing on higher-margin opportunities and recurring revenue. The German market is evolving with slow progress in cannabis club applications.
August 05, 2024 | 4:53 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
CBD of Denver, Inc. (OTC:CBDD) projects $1.03 million in Q2 revenue, up from $720,000 in the same period of 2023. The company is exploring opportunities in the German market through its subsidiary Luxora, which has received positive engagement for a cannabis testing device. Despite challenges in its wholesale business, the company is focusing on higher-margin opportunities and recurring revenue.
The projected increase in revenue and the potential for higher-margin sales in the German market are positive indicators for CBDD. The company's focus on recurring revenue and new opportunities could drive short-term stock price appreciation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100