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Wednesday, May 25, 2022

Shedding its Gain: Clever Leaves Holdings Inc. (CLVR) Stock Down Premarket.

Clever Leaves Holdings Inc. (CLVR) is a leader in global operations and a licensed manufacturer of pharmaceutical-oriented cannabinoid products. The company produces CBD active pharmaceutical ingredients and finished product lines for a growing base of B2B clients globally. The company leverages environmentally sustainable, eco-friendly, and low-cost manufacturing approaches.


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CLVR stock price during the regular trading session of March 25, 2022, was $3.84 with a remarkable leap of 143%. Its price dropped as of the writing in the premarket session of March 28, 2022, by 10.1%.

CLVR: Key Financials

CLVR released its Q4 2021 financial statement on March 24, 2022, for the fiscal quarter ended December 31, 2021. Some important aspects are discussed below.

Revenue

The company posted revenue of $4.2 million during the fourth fiscal quarter of 2021 as opposed to $3.3 million in the comparable quarter of 2020. Its revenue observed a significant increase of 25% YoY along with topping the revenue estimations by $138 thousand.

EPS

Net loss basic and diluted per share in the fourth fiscal quarter of 2021 was $24.0 million or $0.91 as compared to $0.9 million or $0.34 in the corresponding quarter of 2020. The company’s net loss increased significantly YoY along with missing the EPS estimates by -$0.31.

CLVR: Events and Happenings

On March 22, 2022, CLVR reported its entry into multi-year cultivation, commercialization, and supply contract with InterCure. According to the conditions of the contract, InterCure will have accessibility to the company’s high-THC medical cannabis flower to serve various cannabis medical markets.

On March 08, 2022, CLVR updated on its Executive management’s participation at the 34th Annual ROTH Conference held on March 13-15, 2022. On March 02, 2022, CLVR announced signing a single-year global sales contract with FoliuMed Holdings and Fidelio Healthcare, which is a German- Colombian operator and manufacturing collaborator respectively. Fidelio will ramp up the manufacturing utilizing the company’s full spectrum THC crude extract, 20% cannabinoid standardized extract, and cannabinoid isolate.

Conclusion

CLVR stock went 16% up in the year-to-date span as the company’s strong and customer-friendly policies began to pay off the fruit. The company’s stock rocketed higher in the regular trading of Friday after the company announced its financial outcomes. Its stock dropped in today’s premarket to shed the gain.

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