Why Village Farms International Stock Sank as Much as 20.5% Today
Shares of Village Farms International (NASDAQ: VFF), a company that uses hydroponics to grow produce and marijuana, fell a dramatic 20.5% on Monday. The big news was the company's earnings, which were mixed, at best.
From a top-line perspective, Village Farms saw growth of 63% thanks to its move into the cannabis space. That division went from zero revenue to $17.4 million. The core hydroponics produce business, meanwhile, saw revenue grow 9% to roughly $34.9 million. All in, the company's revenue in the first quarter of 2021 was about $52.4 million. None of this would seem to be bad.
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Source Fool.com