Florida Cannabis Operator Cansortium Posts 12% Revenue Surge, Prepares For Big Merger Amid Heated Price War
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 23 2024
0mins
Source: Benzinga
Financial Performance: Cansortium Inc. reported a 12% revenue increase to $27.3 million for Q2 2024, with net income of $947,000 compared to a net loss of $5.35 million in the previous year, driven by enhanced manufacturing efficiencies and cultivation yields.
Merger and Expansion Plans: The company is preparing for its merger with RIV Capital, which will expand its operations across Florida, New York, Texas, and Pennsylvania, aiming to cover 25% of the U.S. population with additional stores and facilities.
Get Free Real-Time Notifications for Any Stock
Monitor tickers like undefined with instant alerts to capture every critical market movement.
Sign up for free to build your custom watchlist and receive professional-grade stock notifications.
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.
