SLANG Worldwide (TSE:SLNG) has released an update.
SLANG Worldwide Inc. reported mixed financial results for Q1 2024, with a decrease in revenue to $7.03 million due to competition and market challenges in Core Markets, though partially offset by a surge in e-commerce and Vermont wholesale channels. Gross profit saw a significant drop to $3.36 million, but operational efficiencies helped reduce operating expenses. The company remains optimistic about future growth in the cannabis sector, energized by potential U.S. federal rescheduling of cannabis.
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