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Marijuana Fintech Co. POSaBIT Reports 67% YoY Drop In Q1 Revenue, Renews Focus On Sustainable Profitability And Growth

Cannabis-focused provider of payments infrastructure POSaBIT Systems Corporation (CSE: PBIT) (OTC: POSAF) announced on Thursday its financial results for the three months ended March 31, 2024.The company reported a 67% year-over-year drop in revenue to $33.8 million in the first quarter. Ryan Hamlin, co-founder and CEO of POSaBIT, said the company faced "market challenges" with its payments business at the end of 2023 and in early 2024.

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Adobe’s Optimistic Forecast For New AI Tech Infused Products Attract Investor Cheer, Stock Soars

Adobe Inc. anticipates a significant stock rise, the largest in nearly four years, driven by a robust sales forecast for AI-enhanced creative products. With its digital media revenue expected to reach $460 million this quarter, Adobe's AI integration is resonating well with users.

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US Stocks To End Record-Clinching Week On Subdued Note, GameStop Slides, Adobe Soars: Fed Speeches And More To Watch Heading Into Friday

The market could pause in the final trading session of the week following its record run, facilitated by tamer-than-expected inflation data. The major index futures were moderately lower in early trading. Adobe Inc.

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