Home Financial Markets Penny Stocks Why Supreme Cannabis (SPRWF) Stock Is Up 7% Today?

Why Supreme Cannabis (SPRWF) Stock Is Up 7% Today?

The Supreme Cannabis Company Inc. (OTCQX: SPRWF) have been surging in early trades this morning following release of its quarterly result yesterday. As of 10:45 a.m. EST, stock price was up +7.27% buoying at $0.3380. In the last session, the Supreme Cannabis stock was down -20.23% at $0.3151.

Get the hottest stocks to trade every day before the market opens 100% free. Click here now.  

What is the company known for?


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

Sponsored


Operating as a global diversified cannabis company, Supreme Cannabis offers a unique portfolio of distinct cannabis products and brands with different cannabis companies in its portfolio too. As a result of its success since 2014, the Company emerged as one of the world’s leading producers of cannabis products for both recreational and medical uses. Supreme Cannabis aims to provide brands and products that address a wide range of consumer preferences, including recreational, wellness, medical, and novel categories.

Read More

Portfolio:

In addition to 7 ACRES, Blissco and 7ACRES Craft Collective, Sugarleaf and Hiway make up the Company’s recreational brand portfolio. Medical cannabis opportunities have been explored by the company through its Truverra premium brand. The brands of Supreme Cannabis are backed by a focused portfolio of world-class operating assets which support its key functions in the value chain.

Recent Financials:

In its press release yesterday, the Supreme Cannabis announced its financial results for Q2 of fiscal 2021.

  • For the three month ended December 31, 2020, the company reported net revenues of CAD 18.3 million ($14.46 million) and a net loss of CAD 7.9 million ($6.24 million).
  • Net revenue increased 54.3% quarter over quarter, going from CAD 11.9 million to CAD 18.3 million.
  • A net margin of CAD 8.3 million was achieved after production costs of CAD 9.3 million and inventory impairments of CAD 0.7 million.
  • Although operating expenses were CAD 8.4 million, the majority of it was made up of wages and benefits at CAD 3.8 million.

    Get the hottest stocks to trade every day before the market opens 100% free. Click here now.  

Based on its rapid transition into a luxury Cannabis CPG company, it’s simplified and right-sized corporate system, and its expanded offering of high-quality brands, the Supreme Cannabis will continue to concentrate on near-term revenue and achieve sustained profitability, the company said in its press release.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Oragenics Inc. (OGEN) stock gained during current market. What’s driving it high?

Oragenics Inc. (OGEN) stock gains by 54.33% during the current market trading session. Oragenics, is a research and development firm focused on combating infectious...

Flora Growth Corp. (FLGC) stock declines during premarket. Here’s what you should know?

Flora Growth Corp. (NASDAQ: FLGC) stock gained by 49.67% at last close whereas the FLGC stock price plunged by 18.36% in the pre-market trading...

Palatin Technologies Inc. (PTN) stock rises during pre-market trading. What has been happening lately?

Palatin Technologies Inc. (NASDAQ: PTN) stock declined by 1.16% the last close whereas the PTN stock price gains by 3.91% in the pre-market trading...

Smith Micro Develops Inc. (SMSI) stock soars during current market trading. Here’s to know why?

Smith Micro Develops Inc. (NASDAQ: SMSI) stock surged by 2.39% during the current market trading session. Smith Micro creates software that simplifies and improves...

Drive Shack Inc. (DS) stock soars during after-hour trading, followed by no recent update

Drive Shack Inc. (NASDAQ: DS) stock declined by 3.94% at last close while the DS stock-price surged by 7.38% in the after-hour session. Drive...

Oragenics Inc. (OGEN) stock gained during current market. What’s driving it high?

Oragenics Inc. (OGEN) stock gains by 54.33% during the current market trading session. Oragenics, is a research and development firm focused on combating infectious...

Tonix Pharmaceutics Holdings Inc. (TNXP) stock gains during current market. What’s driving it high?

Tonix Pharmaceuticals Holdings Inc. (TNXP) stock gains by 2.81% in the current market trading session. Tonix is a clinical-stage biopharmaceutical business dedicated on finding,...

Intec Pharma Inc. (NTEC) stock declines during current market after a massive upraise. What’s happening?

Intec Pharma Inc. (NASDAQ: NTEC) stock drops by 7.88% during the current market trading session. Intec Pharma is a clinical-stage biopharmaceutical firm specializing in...

Related News

What Caused The Sino United Worldwide (SUIC) Stock To Drop 50%?

In the last session, the price of Sino United Worldwide Consolidated Ltd (OTCPink: SUIC) spiraled -50.82% to $5.4000. During the session, Sino United's stock...

On What Basis Did HIRU Stock Rise 43%?

Hiru Corp stock blasted into the green at the previous close, rising 43.00% to $0.0143. Volume was 65.87 million against 30-day Average Volume...

Is There Any Reason As To Why The BIGG Digital (BBKCF) Stock Expanded By 30%?

A share of BIGG Digital Assets Inc (OTCQX: BBKCF) rose 30.78 at yesterday's close, to $1.4670. There was an increase in volume of BIGG...

Why Has The Ascot (AOTVF) Stock Price Gained 20%?

The stock of Ascot Resources Ltd (OTCQX: AOTVF) gained significantly as it increased by 20.50% to $0.8858 at last close. The Ascot stock price...

How Does The KinerjaPay (KPAY) Stock Price Increase By 454%?

The payment gateway and eCommerce company KierjaPay Corporation (OTCPink: KPAY) closed Tuesday's trading session at $0.0122, up 454.55%, and has been trading in a...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

Download Free eBook For

7 GROWTH STOCKS FOR 2021

100% free. stop anytime no spam