TRSSF - TerrAscend slumps 14% despite a margin improvement

TerrAscend (OTCQX:TRSSF -13.5%) Q2 shows a 70% Y/Y jump in gross sales figure to $61.98M. Adjusted Gross Profit Margin of 61% compared to 56% last year. Adjusted EBITDA of $24.3M compared to $8.4M. Adjusted EBITDA Margin of 41% vs. 25%. Cash and cash equivalents were $154M as of June 30, 2021. "We are excited to announce our agreement with COOKIES to be the sole cultivator and manufacturer in New Jersey for one of the country's most recognized cannabis brands and the planned opening of 'COOKIES Corners', a store-in-store concept, within each of our three retail locations, subject to certain conditions and regulatory approval.  New Jersey is an important market for us and this agreement with COOKIES will enable us to further solidify our leading position as the state is expected to implement adult-use by the end of this year," stated Jason Wild, Executive Chairman. The stock has declined about 36% over the last quarter and trades at $7.28. Dig deeper into cannabis

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TerrAscend slumps 14% despite a margin improvement