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The Daily Hit: November 17th, 2020

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Kaitlin Domangue November 17, 2020 3min 2 0

It’s time for your Daily Hit of cannabis financial news for November 11th, 2020. 

On the Site 

Trulieve Continues to Flex With Strong Revenue Florida-based Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) reported revenue of $136.3 million for the third-quarter ending September 30, 2020. This was a 13% sequential increase over the second quarter and topped the Yahoo Finance analyst estimate for revenue of $131 million. Trulieve also delivered a positive net income of $17.4 million, or $0.15 per diluted share, easily beating the Yahoo Finance analyst estimate of $0.22.

Greenlane Beats On Revenue, Misses On EPS

The smoking accessory e-commerce giant Greenlane Holdings, Inc. (Nasdaq: GNLN) reported that its net sales fell 20% to $35.8 million in the third quarter ending September 30, 2020 versus $44.9 million in the 2019 third quarter. This narrowly topped the Yahoo Finance analyst estimates for revenue of $35.7 million. The company also delivered a loss per share of ($0.35) which missed the analyst estimates for a loss per share of ($0.10).

Dutchie Plus Aims to be Shopify for Cannabis 

Cannabis e-commerce company Dutchie,  has launched  “Dutchie Plus,” a fully customizable online shopping experience. Dutchie Plus will allow dispensaries to create seamless online shopping experiences through open APIs and powerful back-end tools, including access to deep analytical data to drive sales and a messaging platform to connect directly with customers.

In Other News

Curaleaf Announces New CEO Effective January 1st, 2021 + Record Third Quarter Results 

Source: https://www.greenmarketreport.com/the-daily-hit-november-17th-2020-2/

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