Welcome to our dedicated page for Halo Collective news (Ticker: HCANF), a resource for investors and traders seeking the latest updates and insights on Halo Collective stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Halo Collective's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Halo Collective's position in the market.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Halo Collective Inc. (HCANF) announced its highest-selling quarter and plans to expand its Budega retail locations. The company secured three sites in California, including Hollywood, and aims for up to seven additional stores by late 2023. The NoHo location has seen steady revenue growth, while Westwood continues to double its income monthly. Projected revenues for Budega Hollywood are expected to reach $15M in 2023. Innovative changes have been made to enhance net revenue, reinforcing Halo's presence in the cannabis market.
Halo Collective has completed the acquisition of substantial assets from three entities operating as Pistil Point in Oregon for US$4.0 million. This acquisition enhances Halo's vertical integration strategy in the cannabis market, providing full ownership of cultivation, manufacturing, and distribution assets. The company will now have a broader range of cannabis genetics and improved distribution capabilities, aiming to expand its market presence in Oregon. This strategic move is expected to strengthen consumer demand and shareholder value.
Halo Collective Inc. reported its Q2 2022 financial results, showing a revenue decline of $6.9 million, a 24.8% drop from $9.1 million in Q2 2021, impacted by poor sales in California and Oregon. Total sales fell 59.4% to 2.0 million grams, with significant decreases in oil and edibles sales. Despite a gross profit of $2.1 million at a 31.9% margin, the company reported an Adjusted EBITDA loss of $4.1 million. However, it did reduce debt by $7.7 million and raised $8.0 million through convertible debentures.
Halo Collective Inc. (OTCQB: HCANF) reported Q2 2022 revenues of $6.9 million, a 24.8% decline from $9.1 million in Q2 2021, driven by downturns in California and Oregon markets. Total sales dropped 59.4% to 2.0 million grams. The company achieved a gross profit of $2.1 million with a gross margin of 31.9%. An Adjusted EBITDA loss of $4.1 million was recorded, improving slightly from a loss of $4.4 million in Q2 2021. Halo repaid $7.7 million in debt while raising $8.0 million through convertible debentures. Three Budega dispensaries are now operational in Los Angeles.
Halo Collective Inc. has appointed Katie Field as the new Chairman of the Board, effective immediately, following Ryan Kunkel's resignation. Field, who is also the CEO, becomes only the second woman to hold both positions in a publicly traded cannabis company. With nearly a decade of experience in the cannabis sector, she has been crucial in repositioning Halo’s strategy to focus on core business operations, reduce costs, and enhance profitability. The Company plans to capitalize on its strengths in California and Oregon to drive revenue growth.