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Thursday, May 19, 2022

Clever Leaves Holdings Inc (CLVR) stock skyrocketed in the after-hours. Here’s why

Clever Leaves Holdings Inc (CLVR) stock was trading at $1.58 before the close of the recently traded session. CLVR stock followed a bullish path and gained 27.42% from the previously traded session. Moreover, on the last check, CLVR stock stayed bullish in the after-hours and gained 25.32% to $1.98. Clever Leaves published the fiscal performance for Q4 and FY2021. The firm also declared a partnership with InterCure. Moreover, CLVR filed forms 8-K, 10-K, and 424B5 with the SEC on 24 March 2022.

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On 22 March 2022, CLVR declared a prudent collaboration with InterCure. Both firms got into an agreement and reported the implementation of long-term development, promotion, and dispersal. As part of the collaboration, InterCure will have permission to use Clever Leaves THC cannabis to serve a few clinical cannabis markets. CLVR and InterCure consented to work alongside on specific specialized affairs for the improvement of new items trying to fulfill the necessities of patients.

Moreover, on 17 March 2022, the company nominated William Muecke as a director to the board. Muecke was likewise designated to the board’s administration panel. Mr. Muecke acquires broad mastery of banking advisory, rebuilding, obligation and equity financing, and merger arrangements, with almost 30 years of experience with worldwide finance.

CLVR Financials

On 24 March 2022, CLVR published the fiscal performance for Q4 and FY21, which concluded on 31 December 2021. The highlights of the result are

  • The revenue of CLVR in Q4 of FY21 was $4.1 million as compared to $3.3 million in the same period of FY20. Also, the revenue in FY21 was $15.3 million versus $12.1 million in the previous year.
  • CLVR reported the total loss for Q4 of FY21 to be $24 million against $0.8 million in Q4 of FY20. Also, the total loss in FY21 was $45.7 million as compared to $25.8 million in FY20.
  • The company had a loss of $0.91 per stock in Q4 of FY21 against the loss of $0.34 per stock in Q4 of FY20. Further, CLVR reported a loss of $1.78 in FY21 versus the loss of $3.34 per stock in FY20.

About CLVR

Clever Leaves Holdings Inc works as a holding organization. The firm is centered around developing, extricating, and selling cannabinoids. The firm has a market cap of $42.53 million. CLVR has its headquarters in Boca Raton, Florida, USA.

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