The Daily Hit: April 28, 2021

It’s time for your Daily Hit of cannabis financial news for April 28, 2021.

On the Site

Turning Point Brands

For a company that mostly sells papers, Turning Point Brands (NYSE: TPB) is turning into a behemoth in the cannabis industry. During its recent earnings results, the company announced that it was increasing its guidance for 2021 net sales to a range of $422 million to $440 million. This is up from the previous guidance of $412 million to $432 million. This increase includes net sales of $103 million to $109 million in the second quarter. Adjusted EBITDA for the full year is now expected to be $103 million to $108 million, up from previous guidance of $99 million to $105 million.

MindMed

MindMed (NASDAQ: MNMD) shareholders have been taken on quite a trip over the last few days as the company uplisted from the Over The Counter Market to the big time at the NASDAQ. The stock jumped to over $5 a share in its last days at the OTC Markets, only to move to midtown Manhattan and see the shares plunge 29% in its debut. The stock closed at $4.02 on Tuesday. Some buyers look like they are jumping back in as early trading on Wednesday is seeing a 10% increase in price.

In Other News

Namaste

Namaste Technologies Inc.  (OTCMKTS: NXTTF) reported gross revenue for Q1 2021 was $6.15 million ($5.46 million Q1 2020), representing an increase of 13% while operating expenses decreased by 10.9% over the same period. Cannabis revenue increased by 113% vs the same quarter last year and maintained its strong position at 47% of total net revenues, the second-highest percentage for cannabis revenue out of total net revenue achieved in the last four quarters. The company’s working capital position remains strong at $31 million as at February 28, 2021 bolstered by the closing of a bought deal financing of $23 million.

Akerna

Akerna (Nasdaq: KERN) reported that Tuesday, April 20, was the highest sales day for retail cannabis ever recorded, with approximately $111,815,824 in medical and adult-use sales. The 5-day period surrounding the holiday (4/16 – 4/20) grossed over $373,787,685.

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the latest news delivered straight to your inbox!

Join to receive our weekly digest of today's most critical financial news on the cannabis industry

We respect your privacy. Your information is never shared.


About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Recent Tweets

@GreenMarketRpt – 6 hours

So much happened this week in the industry. Did you miss something? Watch from…

@GreenMarketRpt – 6 hours

Welcome to the weekend! Catch up on all the of the week with #GreenMarketReport…

Back to Top