Halo Collective Reports Record First Quarter Results

There was a time when most investors used to look into online versions of financial dailies and into investment forums in order to get an idea about the latest happenings in the stock market.

However, the internet has evolved in a big way and nowadays there are a range of platforms where investors can find reliable information with regards to the stock markets. One of those platforms is YouTube, which is populated with many channels that are solely dedicated to stock markets and one of the more popular channels at this point is RichTV Live.

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The channel publishes videos on a regular basis and provides reliable information about a wide range of subjects regarding various stocks. It also analyses breaking news stories and the financial situation of companies.

Earnings Review

In a video that was released last week, RichTV looked into the cannabis company Halo Collective (NEO:HALO), (OTCQX:HCANF), (Germany:A9KN) after the company announced its financial results for the first fiscal quarter. The cannabis company reported strong revenues in the quarter having generated $9.9 million and trumped the revenues in the prior-year period by as much as 123%. A closer look at the revenues reveals more promising signs.

A major portion of the revenues was generated by the sales of cannabis products to the tune of 5.2 million grams. Most of that was sold to dispensaries in California and Oregon. That reflected a year-on-year rise of as much as 253% and it is something that the company is expected to be working on over the coming quarters.

However, that is not all. Halo Collective manages to grow its organic segment revenues by as much as 62% and remains the biggest jump recorded in the history of the company.

The gross profits for the period came in at $2 million, which was again a massive jump from the $172000 that Halo recorded in the same metric in the year-ago period. In the video, the RichTV analyst spoke at length about the company’s performance in the first quarter but more importantly, he also touched upon the possible future of the company and the current state of the cannabis sector. Investors could do well to take a closer look at the video if they are interested.

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