CLS Holdings USA (OTCMKTS:CLSH) dropped 4%, but the stock is up 30% in a week. CLS Holdings Nevada subsidiary has created net revenue of $1.8 million with a gross margin of 56% for the month of November.
Market Stats
On Tuesday, CLSH stock decreased 4.23% to $0.1054 with more than 32.76k shares, compared to its average volume of 75.89k shares. The stock has moved within a range of $0.1020 – 0.1110 after opening trading at $0.1110.
CLS Holdings USA announces record-breaking gross profit margin for November
In addition, the cannabis company indicated that the gross margin represents a 20% YoY increase, a 66% increase over 2019, which is the highest gross margin the company has ever attained. Also, its wholesale division, City Trees, continued to perform exceptionally with 91% YoY monthly net revenue growth.
COO and President Andrew Glashow said that 2021 has been exciting, and now the company is all systems go for now. Glashow said that with the company’s innovation lab producing the best quality cannabis products in Nevada, more customers purchasing City Trees, and the OASIS Dispensary showing up, the company is poised for more growth in 2022. In addition, the company indicated that Oasis Cannabis, the retail division, has continued to exceed the objective of an average order size of $50, and in November, orders averaged $54. So, in the coming weeks, CLSH is worth watching.
Key Quote
“It’s been an exciting 2021,” president and chief operating officer Andrew Glashow said in a statement. “We are all systems go at this point. With our innovation lab pumping out what we believe to be the best quality product in the state of Nevada, a growing number of consumers continuing to purchase City Trees and show up at our OASIS dispensary we are poised for continued growth in ’22,” he added.
