CordovaCann Corp. (CSE: CDVA) (OTCQB:LVRLF) Stock Gains Momentum: Now What?

Investors who may be interested in the cannabis sector could consider taking a closer look into CordovaCann Corp. (CSE: CDVA) (OTCQB:LVRLF) this morning in light of the 14% gains the stock recorded on Thursday.

Cordovacann (CSE: CDVA / OTCQB: LVRLF) Provides Update on Star Buds Cannabis Co. Retail Operations

Yesterday the cannabis consumer products company hit the news cycle after it provided an update with regards to its Star Buds Cannabis Co. retail operations based out of Canada. The company announced that in the spring and summer periods the Star Buds stores had recorded strong growth and were going to maintain the growth in the final portion of the year.

The 11 retail stores had continued to corner market share and managed to generate profits on a consistent basis. In the news release, it was also noted that the stores had managed to attract customers due to the diverse products that were on offer. Additionally, the commitment to customer service of the team in charge of the stores was also cited as a significant factor.

Over the six-month period from March to August 2024, the Star Buds Cannabis chain managed to generate average monthly revenues to the tune of $1.2 million. A store in the network managed to show average growth of 10.3% in revenues on a year-on-year basis during the period.

Key Quote

“The Star Buds Cannabis Co. stores have shown strength in 2024, and we are excited about the growth of the platform as we head into the final months of the year,” stated Taz Turner, Chairman and CEO of Cordova. “Our team is focused on scaling the Canadian retail business and will continue to explore ways to achieve that goal.”