$ORCD - Q3 Financial Results Released
It’s earnings season once again, $ORCD just reported their Q3 financial results ending March 31, 2021. Personally, I’m satisfied with the results and the earnings show a lot of growth.
Highlights:
- Profits increased by 321% over the same period last March ($365k - $1.53M)
- 110% jump in revenues ($1.63M - $3.43M)
- Brought expenses down by 42% at the same time as increasing profits and revenues. This let $ORCD see a sub $1M loss compared to last year’s $4.4M loss.
With the strong growth shown in their report and only a $13M market cap, they’re extremely undervalued compared to their peers in the cannabis industry. The stock has been trading fairly flat in the $0.30 range over the past few months, but the fundamental business has been growing rapidly. Since the company is very under the radar right now, I’m adding to my position at these levels. The financial results gives me a lot more confidence in the company and as the entire cannabis industry grows, I expect $ORCD to continue performing extremely well.
https://stockhouse.com/news/press-releases/2021/05/28/orchid-ventures-announces-financial-results-for-period-ended-march-31-2021