ZBISF - Zenabis Stock Gains Despite Declining Revenue in Q3

Zenabis stock is gaining today despite Zenabis Global (TSX:ZENA) (OTCPK:ZBISF) reporting dismal third-quarter results that saw revenue more than halve to $12 million CAD.

Zenabis Global reported cannabis sales of $7.1 million CAD, which is only marginally down from the figure of $7.3 million CAD in the previous quarter. However, sales in the propagation segment fell drastically from $17.4 million CAD to just $4.5 million CAD, with the company blaming growing cycles at its greenhouses, seasonality, and the timing of customers’ orders for this sharp drop off. Despite the almost $13 million CAD drop ...