Streetbeat News

LFLY

Leafly Holdings, Inc.

https://www.leafly.com

Industry

Medical - Pharmaceuticals

Leafly Holdings, Inc. owns and operates a platform to provide consumers with cannabis information and connects consumers to cannabis brands and licensed retailers. It offers subscription-based marketplace listings, digital advertising solutions, and software as a service-based tools to cannabis retailers and brands; and information, reviews, menus, and ordering and delivery options to its audience through its website and mobile applications. The company was founded in 2010 and is headquartered in Seattle, Washington.

Open

1.58

Mkt cap

4.7M

Volume

42K

High

1.60

P/E Ratio

-0.73

52-wk high

6.49

Low

1.53

Div yield

N/A

52-wk low

1.32

Leafly Holdings (NASDAQ:LFLY) reported Q1 2024 earnings with a GAAP EPS of $(1.29), missing the $(0.81) estimate, and sales of $9.048M, missing the $9.104M estimate. This represents a 53.93% improvement in EPS and a 19.57% decrease in sales year-over-year.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 8:58 pm

Leafly, a leading online cannabis discovery marketplace and resource for cannabis consumers, has appointed Peter Lee as its new President and Chief Operating Officer. This strategic move aims to leverage Lee's extensive experience to drive Leafly's growth and operational efficiency.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:53 pm

At the Benzinga Cannabis Capital Conference in Florida, industry leaders discussed the transformation of the cannabis sector into a consumer packaged goods (CPG) model. Leafly's CCO Carlos Pinto moderated a panel on data-driven strategies for consumer products. Kris Walker of Hoodie Analytics and Christine Smith of Gron Edibles emphasized the importance of data in product development and market strategies. Micah Anderson of LEEF Brands shared insights on using customer feedback for product refinement. The discussion also covered the significance of understanding consumer demographics, strategic distribution, and packaging for success in the CPG space.

Portfolio Pulse from Patricio Liddle

May 07, 2024 | 4:22 pm

Kevin Sabet, a Newsweek reporter, claims based on sources inside and outside the DEA that Administrator Anne Milgram did not sign the rescheduling order for cannabis, deviating from over 50 years of precedent. This could significantly impact the regulatory landscape for cannabis.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 7:53 pm

The Florida GOP has officially opposed a marijuana legalization initiative, enabling Governor Ron DeSantis to fundraise for a campaign against it. DeSantis argues that legalization would worsen the state by increasing marijuana presence and is motivated by profit for certain individuals. Despite opposition, economic analysts predict the initiative could generate significant sales tax revenue. Trulieve, a major medical cannabis company, has been the primary financial supporter of the initiative, contributing significantly towards its campaign.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 2:54 pm

The Wall Street Journal reports that despite the declassification of cannabis, pot stocks such as ACB, AKAN, CGC, CRON, GRWG, HUGE, IGC, IMCC, LFLY, SNDL, and TLRY remain in a state of uncertainty. The article suggests that regulatory, legal, and market dynamics still pose significant challenges for these companies, impacting their stock performance and investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 1:41 pm

Senate Majority Leader Chuck Schumer described the DEA's decision to propose rescheduling marijuana as a 'historic step forward' but emphasized his commitment to passing the SAFER Banking Act and the Cannabis Administration and Opportunity Act (CAOA) for further cannabis reform. The DEA's move to reclassify cannabis from Schedule I to Schedule III under the Controlled Substances Act is seen as a significant but limited step, allowing for more research and some federal tax deductions for state-licensed cannabis businesses. However, Schumer and other advocates stress the need for comprehensive legislation to end federal prohibition and address the harms of the War on Drugs.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 8:43 pm

Cannabis stocks are experiencing an uptick after reports surfaced that the DEA is considering reclassifying marijuana to a less restrictive drug category. This potential shift suggests a more favorable regulatory environment for cannabis companies, potentially increasing their market opportunities and reducing legal barriers.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 5:10 pm

The Drug Enforcement Administration (DEA) is reportedly moving to reclassify marijuana as a less dangerous drug, signaling a significant shift in federal drug policy. This move could have broad implications for the cannabis industry, potentially easing restrictions on research and banking, and affecting companies involved in the marijuana sector.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 5:07 pm

Traders are closely watching marijuana stocks following comments from The TDR Podcast hinting at a potential imminent announcement related to marijuana legislation. The speculation is based on rumors and comments from pro-marijuana Democratic Senators suggesting the announcement could be as soon as today or tomorrow.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 5:41 pm

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