In 2021, the cannabis sector has managed to make a bit of a comeback in the markets and this week, it might be a good idea to look into the Harvest Health & Recreation Inc (OTCMKTS:HRVSF) stock.
Harvest Health is a noted vertically integrated cannabis firm and operates in multiple states in the United States. Over the course of the past week, the company’s stock has been in considerable focus among investors and managed to clock gains of 5%. Yesterday, Harvest Health announced its financial results for the fiscal second quarter of the year and the numbers were actually quite strong.
In the second quarter, the company brought in revenues of as much as $102.5 million and that reflected a year on year rise of as much as 84% from the $55.7 million in revenues in the prior year period. In addition to that, it also represented a sequential rise of 15% from the $88.8 million in revenues that Harvest Health generated in the first quarter.
On the other hand, the gross profits in the quarter came in at $52.3 million, which worked out to a year handsome rise from the $23.2 million in gross profits in the prior year period.
