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    CLVR Comes In As Another Cannabis Big Winner Today

    By Wasim Omar

    Mar 25,2022

    9:17 PM UTC

    Clever Leaves Holdings Inc. (NASDAQ: CLVR) is another big winner from today’s cannabis stock growth wave, climbing 25.32% in after-hours. This remarkable gain follows on after an even more impressive growth trend observed in yesterday’s trade session of over 27.4%. The cannabinoid producer has been on a near month-long climb, netting in a total of a 46.3% since early March. Holding CLVR has certainly been a win for market participants that were quick to realize its undervaluation and growth prospects. As this growth trajectory continues, traders watch with anticipation, betting long positions on CLVR stocks, with high volatility.

    CLVR Earnings Release

    The first event that has triggered this growth spurt has been yesterday’s earnings release by Clever Leaves. In fact, the growth surge for CLVR traces back to early March. This was when the company announced the date for its earnings release conference call as 24th March. The core findings in yesterday’s release were as follows:

    • Annual revenue climbed 27% from $12.1 million to $15.4 million.
    • Gross profit fell from $7.4 million to $6.8 million. This was due to an inventory write-down performed due to accounting technicalities. When excluding this factor, gross profit actually climbed 25% from $7.8 million to $9.8 million
    • 2020’s net loss of $25.9 million increased to $45.7 million last year. However, this figure included a goodwill impairment, non-cash compensation cost, inventory write-down, and gain on liability. After the adjustment for each of these, last year actually delivers a net profit of $4.2 million.

    Given these fundamentals, coupled with the management’s explanation of each, the market maintained its optimistic perception towards CLVR growth prospects.

    Federal Marijuana Legalization Vote

    CLVR has not been alone on its surge this week. The stock has evidently been part of a wider cannabis growth surge owing to a recent update. The US congress scheduled a vote for next week, regarding the subject of potential federal legalization of marijuana. Although the outcome holds mixed predictions, a vote for legalization could potentially bring a breakthrough in the cannabis market. The vote is aimed at removing the substance from federal restriction and control and is aimed at bringing greater equity to the industry. The motion alone indicates progress and could bring industry growth closer to new heights.


    CLVR is well-suited for a growth surge given its positive earnings and a potential breakthrough within the wider cannabis industry. Market participants are clearly looking to beat this surge by purchasing the potentially undervalued stock, driving up the price in the process.

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