Latest news for Charlies Hldgs (OTC:CHUC) Stock

Charlies Holdings Inc is engaged in the formulation, marketing, and distribution of e-cigarette liquid which is used in both open and closed consumer e-cigarette and vaping systems. In addition, the firm engages in the production of premium vapor, tincture, and topical products containing hemp-derived cannabidiol. Geographically, it derives a majority of its revenue from the United States.

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Charlie&#39;s Holdings, Inc. (OTCQB: CHUC) revenue for the year ended December 31, 2022, was $26.4 million, an increase of 23%, compared with $21.5 million for the year ended December 31, 2021.

Charlie&#39;s Holdings FY22 Revenue Grows 23% To $26.4M, Here Is What You Need To Know

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CHARLIES HOLDINGS INC by Charlie's Holdings, Inc.

Charlies Holdings Inc

Planet 13&#39;s leadership, including co-CEOs Robert Groesbeck and Larry Scheffler&nbsp;and CFO Dennis Loganr ecently discussed the company&rsquo;s strategic initiatives and market outlook in a webinar hosted by Pablo Zuanic of Zuanic &amp; Associates.
The conversation covered significant updates on VidaCann integration, Florida expansion, lifestyle brand launch and updates on California and Illinois stores.
<h3>Florida Expansion And VidaCann Integration</h3>
Planet 13 (OTC: <a class="ticker" href="https://www.benzinga.com/stock/plnh#OTC">PLNH</a>)&nbsp;completed the acquisition of <a href="https://www.benzinga.com/markets/cannabis/24/05/38776191/planet-13-wraps-up-vidacann-acquisition-to-enter-florida-market-with-63-4m-deal-and-26-cannabis-">VidaCann</a> on May 10, 2024, enhancing its footprint in Florida. The transaction, valued at $54 million, included cash, stock&nbsp;and vendor take-back notes.
This integration brings Planet 13&#39;s total to 30 dispensaries in <a href="https://www.benzinga.com/topic/florida-cannabis">Florida</a>, with an additional five stores under construction.
VidaCann&rsquo;s projected revenue run rate has increased from $32 million to $50-52 million annually post-acquisition. Future expansion plans include new stores in <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38955155/floridas-marijuana-market-could-drive-139-revenue-spike-for-planet-13-fourfold-mark">Miami, Orlando&nbsp;and Tampa</a>, aiming for 31 stores by year-end.
<h3>Launch Of Lifestyle Brand And Apparel Line</h3>
Planet 13 introduced a lifestyle brand and apparel line to increase brand awareness and create an additional revenue stream.
This initiative leverages e-commerce platforms and traditional marketing channels previously inaccessible to cannabis companies. The apparel line targets various lifestyle segments, including<a href="https://www.benzinga.com/markets/cannabis/24/07/39677795/planet-13-joins-fight-nights-sponsors-ufc-fighter-and-mma-cannabis-friendly-watch-parties-in-veg"> sports and entertainment</a>, with a soft rollout already generating a positive reception.
Read Also:&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/07/39741717/bigger-in-texas-village-farms-greenhouses-spanning-over-100-football-fields-could-dominate-us-ca">Bigger In Texas: Village Farms&#39; Greenhouses Spanning Over 100 Football Fields Could Dominate US Cannabis Market</a>
<h3>Updates On CA And IL Stores</h3>
The <a href="https://www.benzinga.com/topic/california-cannabis">Santa Ana</a>&nbsp;store in California&nbsp;focuses on managing costs and increasing traffic despite a competitive and challenging market. Wholesale opportunities in CA have shown significant growth, particularly in the gummy and flower segments.
Meanwhile, in <a href="https://www.benzinga.com/topic/illinois-cannabis">Illinois</a>&nbsp;the company&rsquo;s store in a suburban area near Milwaukee continues to perform well, attracting traffic from the metro Milwaukee market and neighboring casino complexes.
During the Q&amp;A, Logan addressed concerns about market challenges, emphasizing the importance of vertical integration and the benefits of the new stores in Florida.
<h3>Vertical Integration Strategy</h3>
Logan emphasized the critical role of vertical integration in Planet 13&rsquo;s strategy. &quot;We have probably 800 pounds a month of cultivation capacity right now&nbsp;and we could increase that by 10% to 15% using the existing footprint,&quot;&nbsp;Logan explained.&nbsp;Currently, about 60% of their product is vertically integrated in <a href="https://www.benzinga.com/topic/nevada-cannabis">Nevada</a>&nbsp;with the rest going to the wholesale market.
Logan noted that acquiring additional retail stores allows Planet 13 to divert more products from the competitive wholesale market, capturing higher margins. &quot;If we can get 1 or 2 more stores, we can push an additional 150 to 200 pounds of product through another retail store in the county.&quot; This strategy not only boosts revenue but also strengthens their market position.
&quot;We&#39;re looking specifically at retail-only standalone in Clark County, avoiding areas outside our core market to maximize traffic to our stores,&quot; he added.
Read Next:<a href="https://www.benzinga.com/markets/cannabis/24/07/39781066/libertarians-back-florida-cannabis-legalization-5m-from-hemp-execs-to-gop-green-waves-in-red-sta">&nbsp;Libertarians Back Florida Cannabis Legalization, $5M From Hemp Execs To GOP: Green Waves In Red States</a>
These issues will be a hot topic&nbsp;at the upcoming Benzinga Cannabis Capital Conference in Chicago this Oct. 8-9. Join us to get more insight into what the wave of weed legalization means for the future of investing in the&nbsp;industry. Hear directly from top executives, investors, advocates, and policymakers.&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" rel="noreferrer noopener" target="_blank">Get your tickets now</a>&nbsp;before prices go up by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" rel="noreferrer noopener" target="_blank">this link</a>.
Photo: AI-Generated Image.&nbsp;

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Planet 13 Expands With 30 New Dispensaries: What's The Secret To Higher Margins?

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