C21 Investments (CSE: CXXI) this morning provided a brief update to the market on its current operations. Chief among that update was the latest on ongoing construction at its Nevada cultivation centre as well as March retail data.
March retail data released by the firm has pointed to record monthly retail revenue at its Nevada dispensaries as per the company, however a dollar figure was not provided. Instead, the company revealed that its revenues were 27% higher than March 2020, with 20% of all sales being attributed to curbside pickup. As a point of reference, the company reported first-quarter 2020 sales of $8.1 million, however a further breakdown on a per-month basis was not provided.
With regards to its Nevada cultivation, the company is currently in the process of expanding its facility. The company is adding five additional flowering and vegetative rooms under its first phase of expansion, with the expansion to add 2,500 pounds of capacity per annum to the operation.
The company is set to release full financial results for the year ended January 31, 2021, on May 18.
C21 Investments last traded at $1.40 on the CSE.
Information for this analysis was found via Sedar and C21 Investments. The author has no securities or affiliations related to the discussed organizations. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.