California Weed Co. Led By Former LA Cop Reports 32% YoY Q3 Revenue Growth
Vertically integrated Glass House Brands Inc. (CBOE CA: GLAS.A.U) (CBOE CA: GLAS.WT.U) (OTCQX:GLASF) (OTCQX:GHBWF) reported its financial results Wednesday for the third quarter ended Sept. 30, 2024.
The cannabis company is focused on strategic growth initiatives, including expanding production capacity, improving cost efficiency and positioning itself to weather challenges in the California weed market. However, retail pricing pressures may continue to affect margins in the near term.
“While we expect lower prices to continue in the short-term, longer-term we expect Glass House will benefit, as our Company is built to weather market cycles and emerge even stronger,” said Kyle Kazan, co-founder, chair, CEO and a former Los Angeles police officer who once arrested a man at a red light for having a cannabis plant in his convertible, which had the top down.
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