CLS Holdings (CLSH) CEO Recaps 420 Festivities in Las Vegas NV
As major technology corporations such as Microsoft, Alphabet, Amazon, and Meta prepare to disclose their quarterly financial results, industry experts are closely monitoring two primary aspects: advertising revenue and artificial intelligence-related discussions. For Alphabet and Meta, advertising revenue represents a significant portion of their respective companies’ total income. Analyzing Google’s advertising revenue will provide valuable insights into the overall performance of these businesses. Notably, advertising is crucial for Meta, constituting 98% of the company’s revenue stream. In the case of Microsoft, attention is directed towards artificial intelligence, particularly the role of OpenAI’s ChatGPT. The company may also experience favorable effects from a depreciating US dollar, similar to Apple’s previous quarter.
While all eyes on Wall Street are eagerly eyeing the busy week of earnings, some small cap stocks that demand attention include CLSH, INAB, MGRX, GETY, and IDYA. We would specifically like to draw your attention to this micro cap company CLS Holdings USA, Inc., trading under the symbol (OTCQB: CLSH) (CSE: CLSH).
The company recently announced fiscal third-quarter 2023 financial results that have yet to garner attention from Wall Street. According to the press release, Q3 2023 Financial & Operational Highlights include: net revenue for Q3 2023 was $5.437 million; dispensary revenue increased 6% to $3.529 million, while production revenue decreased 15% to $1.908 million; gross profit for Q3 2023 was $3.019 million, or 56% of net revenue; net loss for Q3 2023 was $1.030 million; and EBITDA for Q3 2023 was $505 thousand.
CLS Holdings USA, Inc. (CLSH) is currently trading at a mere $0.0472 with a 52-week high of $0.50, suggesting a lot of room to the upside. To read more about CLSH, visit https://finance.yahoo.com/news/cls-reports-fiscal-third-quarter-120000776.html
Today morning, CLS Holdings CEO Recapped 420 Festivities in Las Vegas, NV. As per the press release, Oasis Cannabis Dispensary saw 2,700 people who spent an average of $70 per person. Click HERE to read more.
Other earnings report from this morning
General Motors (NYSE:GM) shares rose by 2.1% after the company increased its primary guidance for 2023 and reported Q1 earnings that surpassed Wall Street’s top- and bottom-line predictions, with $39.99 billion in revenue, higher than the expected $38.96 billion according to Refinitiv data. Adjusted earnings were $2.21 per share, exceeding the consensus estimate of $1.73. General Motors and Samsung SDI are anticipated to announce, as early as Tuesday, their plans to build a joint battery manufacturing plant in the U.S.
JetBlue (NASDAQ:JBLU) stock jumped over 2.3% in the premarket following the airline’s forecast of a “solidly profitable” Q2 due to robust travel demand. For Q1, JetBlue reported a 34-cent loss, which was less than the anticipated 39-cent loss according to Refinitiv.
Packaging Corp of America (NYSE:PKG) shares dropped by 6.8% after the company posted an adjusted profit per share of $2.20, falling short of a StreetAccount forecast of $2.27 per share, and its Q2 guidance also missed expectations.
Novartis (NYSE:NVS), a pharmaceutical company, saw its shares gain over 3% after raising its full-year earnings outlook, projecting mid-single-digit sales growth. The company reported earnings per share of $1.71 on $12.95 billion in revenue, surpassing analysts’ expectations of $1.54 per share on $12.52 billion in revenue.
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