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Why Weed Stock Akanda Shares Are Up Today

By Erica Kollmann
March 28, 1:02 PM
Akanda Corp. shares are trading higher Wednesday after the company announced it is evaluating opportunities to enter Bitcoin, blockchain, and AI applications in the cannabis industry. Akanda said it believes cryptocurrency may provide a solution to some of the cannabis industry's banking problems by allowing the businesses to bank themselves. The company highlighted the potential of blockchain technology to trace a product's origin, monitor handling and storage conditions, and track its distribution and sale.

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Hydroponics Giant Announces $6M Share Repurchase Program, CEO Says Understanding ‘Where Every Nickel Goes’ Is Vital For Business Growth

By Jelena Martinovic
March 28, 12:20 PM
Beginning on April 1, the share repurchase program, will continue for up to one year, allowing for repurchases to be made in the open market. Darren Lampert, the company's co-founder and CEO, explained what the move means for GrowGen. "Today's announcement of our share repurchase program further underscores our conviction in the strength of our underlying business and our view that GrowGen shares remain undervalued," Lampert said. "This program acts as one pillar of our shareholder value creation strategy as we continue to evaluate all potential uses for our strong balance sheet, including reinvesting in our brands, strategic acquisitions, and stock repurchases to enhance long-term shareholder value."

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Hemp-Focused Wellness Co. Moves Closer To Profitability, Reports Flat 2023 Revenue, Increase In Gross Profit

By Jelena Martinovic
March 28, 12:04 PM
Hemp-focused consumer wellness company CV Sciences, Inc. (OTCQB: CVSI) announced on Thursday its financial results for the year ended Dec. 31, 2023. The San Diego-based company reported a gross margin of 44.3% for fiscal year 2023, representing an improvement from 34.2% for 2022. For the fourth quarter gross margin was 45.8%, representing a sequential improvement from 45.1% in the third quarter. "Our 2023 progress demonstrates our continuous commitment to innovation and cost-efficient execution as we move closer to profitability and positive cash flow," Joseph Dowling, CEO of CV Sciences, said. "As the CBD category consolidates, we have increased our market share in key sales channels, including the natural product retail channel. We will continue to focus our resources on new product development, as evidenced by our pet line expansion with our recent launch of pet chews for hip and joint health and calming care."

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