Canopy Growth Acquisition Target Acreage Reports 30% YoY Decline In Q3, Record Cannabis Wholesale Revenue In NY
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 15 2024
0mins
Source: Benzinga
Financial Performance: Acreage Holdings reported a 30% year-over-year decrease in consolidated revenue for Q3 2024, totaling $39.6 million, with a net loss of $22.2 million and positive adjusted EBITDA of $0.6 million.
Operational Highlights: The company launched recreational cannabis sales in Ohio, contributing significantly to revenue, while also achieving record wholesale performance in New York and securing a $65 million credit agreement.
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Analyst Views on WEED
Wall Street analysts forecast WEED stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for WEED is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 17.070
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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