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

Republican presidential candidate Vivek Ramaswamy plans to remove federal restrictions on marijuana and psychedelics for veterans with PTSD if elected. He supports descheduling certain substances and has criticized federal prohibition on marijuana. Despite this, he voted against Ohio's state-level legalization due to conflicts with federal law and concerns over federal power overreach. His stance has been seen as inconsistent, especially with his proposal to expand the DEA while reducing other federal agencies.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 6:26 pm

Leafly Holdings, Inc. (NASDAQ:LFLY) reported a 10% year-over-year decrease in Q3 revenue to $10.6 million, citing a challenging environment for cannabis retail and brand customers. Despite a reduction in total operating expenses and an improvement in gross margin, the company experienced a net loss of $2.2 million. Leafly regained compliance with Nasdaq's minimum bid price rule and expects Q4 revenue around $9.5 million with an adjusted EBITDA loss of $1.3 million. LFLY shares dropped 1.73% in pre-market trading.

Portfolio Pulse from Jelena Martinovic

November 10, 2023 | 2:59 pm

Leafly Holdings (NASDAQ:LFLY) reported its Q3 earnings, missing estimated earnings by 2.8% with an EPS of $-1.1 versus an estimate of $-1.07. Revenue was down $1.20 million from the same period last year. Last quarter, the company beat on EPS by $1.0, which was followed by a 13.68% increase in the share price the next day.

Portfolio Pulse from Benzinga Insights

November 09, 2023 | 9:10 pm

Leafly Holdings (NASDAQ:LFLY) reported Q3 2023 earnings per share (EPS) of $(1.10), missing the analyst consensus estimate of $(1.07) by 2.8%. This represents a 119.64% decrease from the same period last year. The company also reported quarterly sales of $10.58 million, missing the analyst consensus estimate of $10.96 million by 3.44%, a 10.17% decrease from the same period last year.

Portfolio Pulse from totan@benzinga.com

November 09, 2023 | 9:08 pm

The article discusses value stocks in the healthcare sector, highlighting five companies: Procaps Gr (PROC), Panbela Therapeutics (PBLA), Community Health Sys (CYH), Leafly Holdings (LFLY), and Ocuphire Pharma (OCUP). These stocks are considered undervalued based on their low price-to-earnings (P/E) multiples. The article also provides Q2 earnings per share for each company, showing an increase for most compared to Q1.

Portfolio Pulse from Benzinga Insights

November 06, 2023 | 2:44 pm

The Drug Enforcement Administration (DEA) plans to significantly increase domestic production of delta-9 THC and other cannabinoids for research purposes in 2024. The agency also plans to maintain high levels of psychedelics production. The DEA has proposed nearly doubling the amount of psilocybin, psilocyn, and delta-9 THC manufactured compared to initial levels set for this year, while quintupling the production of ibogaine. The DEA's move comes amid a transition away from cannabinoid imports to domestic manufacturing.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 6:45 pm

Senate Majority Leader Chuck Schumer plans to amend the Secure and Fair Enforcement Regulation (SAFER) Banking Act to include criminal justice provisions. The amendments will be borrowed from a separate federal legalization bill, the Cannabis Administration and Opportunity Act (CAOA), and will include measures such as resentencing for current federal cannabis prisoners. Despite uncertainties around the new GOP House speaker's stance on cannabis, key Senate Republicans are prepared to move forward with the legislation.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 3:16 pm

A study shows that home prices in states that have legalized recreational cannabis have surged $48,983 higher in the past decade compared to other states. In 23 states and Washington, D.C. where recreational marijuana use is legal, property values have risen by $185,075 since 2014, compared to $136,092 in states without. The study was conducted by Real Estate Witch, an online publication owned by Clever Real Estate, and Leafly, a leading online cannabis discovery marketplace. Leafly Holdings Inc (NASDAQ:LFLY) highlighted the benefits of recreational sales.

Portfolio Pulse from Jelena Martinovic

November 01, 2023 | 4:29 pm

A key House committee will consider amendments to a large-scale spending bill that would prevent drug testing of certain federal job applicants for marijuana and end the blockade that has kept Washington, D.C. from legalizing cannabis sales. The amendments were filed to Fiscal Year 2024 appropriations legislation covering Financial Services and General Government (FSGG). The GOP-controlled House Rules Committee, which has rejected numerous drug policy reform measures in recent months, will take up the amendments.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 3:00 pm

Massachusetts cannabis businesses are challenging the constitutionality of federal drug laws, according to a Politico report. This could potentially impact the legal landscape for cannabis businesses across the US.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 6:30 pm

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