Cannabis retailer MedMen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) disclosed Friday that LitHouse Farms will oversee operations at the two facilities it leases in Desert Hot Springs, California and Sparks, Nevada.
Biotechnology is one sector that peaked ahead of the S&P 500 index.
While the S&P 500 index did not peak until January, the SPDR Biotech (NYSE: XBI) peaked in February 2021 and is now 60% lower than its all-time high price ($174.79 vs. $66.50).
Novanta (NASDAQ:NOVT) posted a 34.98% decrease in earnings from Q4. Sales, however, increased by 10.23% over the previous quarter to $162.58 million. Despite the increase in sales this quarter, the decrease in earnings may suggest Novanta is not utilizing their capital as effectively as possible.