Those who are looking to make a return to the cannabis sector have a lot of options at this time and one of the stocks worth considering at this point is that of The Green Orange Dutchman Holdings Ltd (OTCMKTS:TGODF).
On Thursday, the Green Orange Dutchman stock soared by as much 10%, however, there was no specific news about the company that could have triggered the rally. In this situation, it might be a good move to take a look at the first quarter financial results announced by the company earlier this month.
In the first quarter, the company’s revenues soared by as much as 194% year on year to hit $8.98 million. On the other hand, gross profits came in at $3.13 million, which represented a year-on-year rise of 83%. Last but not the least, Green Orange Dutchman also managed to generate net income to the tune of $12.46 million mainly thanks to impairment charges reversals.