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Cannabis Life Sciences (OTCMKTS:CLSH) Releases Operational Updates: Stock Falls a Bit

Ash K , , , ,

Shares of Cannabis Life Sciences (OTCMKTS:CLSH) have been trading within a  narrow range over the past few sessions.

Market Stats         

On Tuesday, CLSH stock slid 1.32% to $0.0750 with more than 127K shares, compared to its average volume of 77K shares. The stock moved within a range of $0.0744 – 0.1000 after opening trading at $0.10.

Starting Strong: CLS Holdings USA, Inc. Announces January and February 2022 Results With Impressive Growth and Numbers

Diversified cannabis company, Cannabis Life Sciences (OTCMKTS:CLSH) on March 15, 2022, announced a robust start to the year with the release of financial and operational results for the Nevada wholly-owned subsidiaries in the last two months. Though overall retail numbers have dipped in Nevada, BDS Analytics data for City Trees demonstrated significant growth, as the company surpassed expectations both with respect to gross profit and revenues.

The BDS Analytics data for January 2022 demonstrated a bright spotlight on CLS’ branded division, City Trees. The division witnessed sales of more than a million dollars in retail, resulting in a 195.5% increase YOY.

The total units sold for City Trees surged by 50% YOY and the brand reflected 6.2% Brand Share by units sold. The overall performance makes the brand at number 2 in the overall concentrate category in Nevada. It is also the first position in the tincture brand in the state.

It is noteworthy to see that all success and growth has been witnessed organically. The company earned about two million dollars in net revenues in the previous month, meaning a 32% increase YOY as well as a 72% increase from 2020. The wholesale branded wing at City Trees is showing growth with net revenues augmenting by 122% YOY, while it surged by 205% from 2020. The firm achieved a goal of over 50% gross profit during February 2022. CLS’ retail division, Oasis, ensured gross margins of 53% during the same month.

Traders Corner

KNRLF stock is trading above the 20-Day and 50-Day Moving averages of $1.40 and $1.45 respectively. Moreover, the stock is trading above the 200-Day moving average of $1.46.