What's Going On With Edible Garden Stock After Earnings?
Portfolio Pulse from Erica Kollmann
Edible Garden AG Inc. (NASDAQ: EDBL) shares are trading higher after the company reported Q2 earnings. The company posted a quarterly loss of $1.21 per share and sales of $4.268 million, slightly below analyst estimates. However, the company saw a 157% increase in gross profit and significant growth in core product segments. The stock is up 12.3% following the report.
August 14, 2024 | 4:43 pm
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Edible Garden AG Inc. reported a quarterly loss of $1.21 per share and sales of $4.268 million, slightly below analyst estimates. However, the company saw a 157% increase in gross profit and significant growth in core product segments. The stock is up 12.3% following the report.
The significant increase in gross profit and strong growth in core product segments are positive indicators for the company's financial health. Despite the quarterly loss, the market has reacted positively, driving the stock price up by 12.3%.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100