Cannabis stocks traded up this week, aided by strong earnings reports, big M&A announcements and the reintroduction of the Marijuana Opportunity Reinvestment and Expungement Act (MORE) into Congress, after the previous year's version failed to pass the Senate.
Vertically integrated cannabis company 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) revealed Monday its systemwide pro forma revenue (a non-GAAP measure) increased 26% sequentially to $31.4 million in the first quarter of 2021.
In addition, GAAP-reported revenue amounted to $23 million.