EDBL - Why Edible Garden Stock Is Racing Higher | Benzinga
Edible Garden AG Incorporated (NASDAQ:EDBL) shares are trading higher Wednesday after the company reported a year-over-year increase in preliminary first-quarter revenues.
The Details:
Edible Garden reported a preliminary first-quarter year-over-year increase in produce revenues of 40% and an increase in cut herb revenue of more than 200% compared to the same period last year. The company attributed the growth to its investments in equipment and infrastructure, as well as expanded retail distribution leading to a 12-fold increase in herb production.
“Following a strong year for cut herb sales in 2023, the Company is experiencing sustained strong demand for cut herbs in 2024 and our distribution network now includes many of the foremost retailers in the nation. These retailers rely on us for our high-quality, locally sourced, organic, and sustainably produced products," ...