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New Age Metals (OTC:NMTLF) Stock, Option Chain

New Age Metals Inc is a green metal, mineral exploration and development company. The company has two divisions, each engaged in the process of acquiring, exploring, and developing Platinum Group Metal (PGM) and Lithium projects. Geographically, it operates in Canada and the USA, out of which the majority of its revenue is from Canada. Its project includes the palladium projects in North America - its flagship River Valley PGM Project (near Sudbury, Ontario), Genesis PGM-Cu-Ni Project (Alaska), and seven Lithium projects (Manitoba).

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NEW AGE METALS INC by New Age Metals Inc.

New Age Metals Inc

Influential venture capitalist Chamath Palihapitiya proposed a radical plan on X. He suggested slashing trillions from the federal budget to fund nationwide internet access, with the cost overruns to be borne by the chosen company.
What Happened: The post comes in the wake of Donald Trump&#8217;s victory in the <a href="https://www.benzinga.com/markets/asia/24/11/41768811/donald-trump-wins-47th-presidency-us-futures-up-europe-up-asia-mixed-crude-falls-and-dollar-strength">2024 presidential election</a>. Trump during his campaign, had floated the idea of appointing Elon Musk to lead government efficiency efforts, aiming to reduce federal spending drastically. 
The SPAC King ended his post with a slogan associated with the Trump campaign — &#8216;Make America Great Again!&#8217;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Cut the federal budget by <a href="https://twitter.com/search?q=%24Ts&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Ts</a>, then take a tiny fraction of this and find a company to give EVERY American internet access even in the most remote parts of America. All or none contract &#8211; bounded by time, cost overruns borne by the company. Make America Great Again!
&mdash; Chamath Palihapitiya (@chamath) <a href="https://twitter.com/chamath/status/1856463263418249652?ref_src=twsrc%5Etfw">November 12, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/government/regulations/24/11/41866438/donald-trumps-second-term-could-reshape-us-healthcare-system-with-major-impacts-on-affordable-care-act-and-medicare?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump&#8217;s Second Term Could Reshape US Healthcare System, With Major Impacts on Affordable Care Act And Medicare</a>
Why It Matters: Palihapitiya&#8217;s proposal aligns with Trump&#8217;s and Musk&#8217;s vision of <a href="https://www.benzinga.com/personal-finance/24/11/41701075/elon-musk-warns-of-hardship-for-americans-if-trump-puts-him-in-charge-of-cutting-33-trillion-deb">aggressive cost-cutting</a>. Musk had previously suggested that he could <a href="https://www.benzinga.com/startups/24/11/41704205/elon-musk-says-we-can-cut-2-trillion-out-of-the-harris-biden-budget-and-that-americans-money-is-bein">cut $2 trillion</a> from the federal budget.
However, this approach has met with criticism. Nobel laureate Paul Krugman <a href="https://www.benzinga.com/markets/equities/24/09/40743901/elon-musk-and-trumps-federal-efficiency-plans-slammed-by-paul-krugman-economist-warns-about-risk">expressed concerns</a> over the proposed spending cuts, warning about risks to Social Security, Medicare, Medicaid, and national defense.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Photo by Featureflash Photo Agency on Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

Chamath Palihapitiya Says Cut The Federal Budget By Trillions And Then Do This With A 'Fraction' Of The Money To 'Make America Great Again'

Wall Street is speculating on the effects of possible Donald Trump policy changes when he takes office in January 2025. JPMorgan analyst Virgina Martin Heriz weighs in on the potential impacts of a second Trump <a href="https://www.benzinga.com/news/24/11/41781921/what-does-trumps-victory-mean-for-ev-giant-tesla-and-the-big-3-automakers">presidency on sustainable investing.&nbsp;</a>
Onshoring: Heriz sees a second Trump administration modifying the Inflation Reduction Act (IRA), but doing so with a "scalpel, not a sledgehammer." 
The JPMorgan analyst sees the domestic content portions of the IRA as the "most safe incentives" due to bi-partisan support of supply chain onshoring. Heriz points to First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), SunRun, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) and Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>) as clean tech companies particularly positioned to benefit from supply chain onshoring. 
Read More: <a href="https://www.benzinga.com/general/biotech/24/11/41822473/trumps-potential-health-czar-robert-f-kennedy-jr-rattles-vaccine-stocks-shoot-first-reaction">Trump&#8217;s Potential &#8216;Health Czar&#8217; Robert F. Kennedy Jr. Rattles Vaccine Stocks: &#8216;Shoot First Reaction&#8217;</a>
Hydrogen: Heriz also sees the 45V tax credit for clean hydrogen producers as likely to stay due to strong backing from traditional energy companies and Republican-leaning areas. Clean hydrogen companies including FuelCell Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) and Plug Power Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) are likely safe from policy changes under a second Trump administration, according to Heriz.&nbsp;&nbsp;
EV Incentives: The analyst does expect subsidies for electric vehicles to be downsized or repealed, including the 30D clean vehicle tax credit of up to $7,500 on the purchase of a qualifying EV. Additionally, Heriz anticipates tightening EV charging incentives like the 30C tax credit that covers up to 30% of the cost of each charger. Some companies that could be negatively impacted by the repeal of EV and related charging incentives include EVgo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVGO#NASDAQ">EVGO</a>), ChargePoint Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NASDAQ">CHPT</a>) and Blink Charging Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLNK#NASDAQ">BLNK</a>).&nbsp;
Oil &amp; Gas: Domestic oil and gas production is more influenced by market prices and global supply and demand rather than government policies, Heriz said. For this reason, the analyst expects a potentially reduced regulatory burden to be "helpful to the industry, but not life-changing in the short-term."
The Take-Away: While Heriz does expect policy changes to affect sustainable investing under the second Trump administration, she said that outflows in sustainable investing are mainly motivated by underperformance.&nbsp;
"Fund performance matters far more than politics," the JPMorgan analyst said.&nbsp;
Read Next:&nbsp;
<a href="https://www.benzinga.com/news/earnings/24/11/41914981/bitcoin-miners-hive-digital-hut-8-bitfarms-to-report-earnings-as-future-of-crypto-has-never-been-brighter">Bitcoin Miners Hive Digital, Hut 8, Bitfarms To Report Earnings As Future Of Crypto &#8216;Has Never Been Brighter&#8217;</a>
Photo: Earth phakphum via Shutterstock

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PLUG

Sustainable Investment Under Trump: 'Performance Matters Far More Than Politics,' JPMorgan Analyst Says

The soaring price of <a href="https://www.benzinga.com/money/bitcoin-price-prediction">Bitcoin </a>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) to all-time highs led to many long-time believers celebrating and sometimes dunking on the many skeptics who predicted the death of <a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36338011/bitcoin-obituary-count-hits-decade-low-just-seven-reports-filed-in-2023">the leading cryptocurrency.</a>
In 2018, entrepreneur and startup investor Jason Calacanis was among the people who said there was a high probability of Bitcoin going to zero. Here's a look back.
What Happened: Entrepreneur and investor Calacanis may be best known for being a co-host on the popular<a href="https://www.benzinga.com/topic/all-in-podcast"> All-In Podcast</a>, alongside David Sacks, David Friedberg and Chamath Palihapitiya.
While Palihapitiya has <a href="https://www.benzinga.com/markets/cryptocurrency/23/06/32694893/if-you-invested-1-000-in-bitcoin-when-chamath-palihapitiya-said-to-allocate-1-heres-the-st">been pro-Bitcoin</a> over the years and encouraged people to allocate 1% of their assets to Bitcoin in 2013, Calacanis has been less receptive.
On Nov. 26, 2018, Calacanis tweeted a chart of Bitcoin at the price of $3,731 and said it was highly likely the cryptocurrency would go to zero.
"Bitcoinzero is still the likely case (60-70%) if you own Bitcoin, understand it's a highly manipulated currency, with no rules or regulations…. If you didn't get in early, you're the sucker at the table. $3,700…. Ouch," Calacanis <a href="https://x.com/Jason/status/1067225544809373696">tweeted</a>.
The tweet came after Bitcoin saw its price decline sharply in 2018 after a soaring price in 2017.
Fast forward to today and Bitcoin is now trading near $90,000.
Recently, Calacanis <a href="https://x.com/Jason/status/1855707535724175719">shared </a>his old tweet and again expressed some doubt that Bitcoin will continue trading higher, while also admitting that he or his companies own some of the crypto.
"I'm SHOCKED that Bitcoin hasn't been banned by western governments — who are going to lose a LOT of power as it becomes ubiquitous….and I'm somewhat shocked that a nation state, hacker collective, etc. hasn't figured out a way to compromise the network. Which says something about the brilliance of bitcoin's architecture…full disclosure we own a ton of it, which we bought at $100-$200 and we've never sold.
In the Nov. 10 tweet, Calacanis said it now feels that Bitcoin is "too big to fail," but said there is still a less than 5% possibility that Bitcoin goes to zero.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41896277/bitcoin-nears-90000-how-high-can-the-apex-crypto-go">Bitcoin Nears $90,000—How High Can The Apex Crypto Go?</a>
Investing $1,000 in Bitcoin: Sometimes it pays to follow famous investors&#8217; callouts on investment opportunities and other times it pays to fade them and do the opposite.
In the case of Calacanis' prediction of Bitcoin as zero, investors would have done well to bet against the All-In Podcast co-host.
Bitcoin traded between $3,643.92 and $4,107.14 on Nov. 26, 2018, when Calacanis shared the picture of the Bitcoin chart and price.
A $1,000 investment at the high price of the day could have bought 0.2435 BTC at the time.
Today that investment would be worth $21,676.86, up 2,067.7%.
Compare that to the SPDR S&amp;P 500 ETF, which tracks the S&amp;P 500 Index. A $1,000 investment in the ETF could have bought 3.73 shares on Nov. 26, 2018. The $1,000 investment would be worth $2,226.03 today, up 122.6%.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/short-sellers/24/03/37985816/investor-who-once-backed-short-selling-ban-considers-bet-against-trump-media-biggest-pump-and-dump-">Investor Who Once Backed Short Selling Ban Considers Bet Against Trump Media: &#8216;Biggest Pump And Dump Stock In History&#8217;</a></li>
</ul>
Photo: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Education

$BTC

If You Invested $1,000 In Bitcoin When All-In Podcast's Jason Calacanis Said BTC Was Going To Zero, Here's How Much You'd Have Today

WM Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAPS#NASDAQ">MAPS</a>), a technology and software provider to the <a href="http://benzinga.com/cannabis">cannabis</a> industry commonly known as<a href="https://www.benzinga.com/topic/weedmaps"> Weedmaps</a>, reported a significant improvement in its third-quarter 2024 financial performance. The company announced on Tuesday afternoon a 312% year-over-year surge in net income, reaching $5.3 million and a 31% rise in cash reserves from year-end, totaling $45 million.
<h3 class="wp-block-heading">Q3 2024 Financial Highlights</h3>
<ul>
<li>Revenue was $46.6 million, up from $45.9 million in the previous quarter but slightly down from $46.7 million in the same period last year.</li>
<li>Net income was $5.3 million, up from $1.2 million in the prior quarter, reversing a net loss of $2.5 million in the prior year period.</li>
<li>Adjusted EBITDA was $11.3 million, compared to $10.1 million in the previous quarter and $10.7 million year-over-year.</li>
<li>Gross profit was not disclosed in the press release.</li>
</ul>
<h3 class="wp-block-heading">Steady Revenue Growth Despite Product Changes</h3>
Net revenues stood at $46.6 million, a slight increase from $45.9 million in the prior quarter but marginally down from $46.7 million in the same period last year. This fluctuation was attributed to the sunset of certain products in late 2023, partially offset by growth in other products.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
</ul>
The company also reported an average of 5,100 monthly paying clients, a modest increase from 5,045 in the prior quarter. Average monthly net revenue per paying client rose to $3,043, up from $2,874 in the same period last year.
<h3 class="wp-block-heading">Management Commentary</h3>
&#8220;Our third quarter results mark yet another consecutive period of strong financial performance and positive cash flow, underscoring the solid foundation our team has built,&#8221; Doug Francis, CEO of WM Technology <a href="https://ir.weedmaps.com/news-releases/news-release-details/wm-technology-inc-reports-financial-results-third-quarter-2024">said</a> in a press release. He emphasized the company&#8217;s focused approach and strategic positioning for future growth.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/11/41925096/cannabis-delivery-giant-eaze-rises-from-ashes-how-10m-funding-could-power-its-comeback">Cannabis Delivery Giant Eaze Rises From Ashes: How $10M Funding Could Power Its Comeback</a>
Achieving its eighth consecutive quarter of adjusted EBITDA profitability, the company reported $11.3 million in adjusted EBITDA, up from $10.1 million in the previous quarter and $10.7 million in the same period last year. &#8220;The fundamentals of our business continue to strengthen, as evidenced by our eighth consecutive quarter of Adjusted EBITDA profitability,&#8221; added CFO Susan Echard, highlighting the positive momentum heading into 2025.
<h3 class="wp-block-heading">Outlook For Q4 2024</h3>
WM Technology provided guidance for the fourth quarter of 2024, projecting net revenues of approximately $46 million and a non-GAAP adjusted EBITDA of around $7 million. The company expressed confidence in its strategic investments and debt-free balance sheet as it moves into the next fiscal year.
MAPS Price Action MAPS's shares were trading 2.59% lower at $0.716 per share when the market closed Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/11/41910180/exclusive-chris-christie-says-trump-will-remove-federal-restrictions-on-marijuana-find-sweet-spot-for-crypto-regulation">EXCLUSIVE: Chris Christie Says Trump Will Remove Federal Restrictions On Marijuana, Find &#8216;Sweet Spot&#8217; For Crypto Regulation (UPDATED)</a></li>
</ul>

Cannabis

Earnings

MAPS

Weedmaps Net Income Surges 312% YOY, Cash Reserves Up 31%

The Conference of the Parties (COP) 29 summit brought global leaders to Baku, Azerbaijan, for an 11-day session to address climate change, carbon market mechanisms and <a href="https://www.benzinga.com/topic/green-energy">climate finance</a>.
Hosted in a country heavily reliant on fossil fuels, the event is a mix of urgency and controversy, particularly after BBC<a href="https://www.bbc.com/news/articles/crmzvdn9e18o"> reported</a> local representatives engaging in oil and gas deals.
Still, the primary focus of its first days is establishing the rules for a global carbon market — a move aimed at helping countries meet emissions targets by trading carbon credits.
This mechanism, intended to fund projects that reduce emissions globally, allows wealthy countries to purchase credits from those with lower emissions, thus offsetting their carbon output.
The stakes are high at COP29, particularly with pressing issues such as funding for climate-vulnerable countries and updating climate targets. The attendees will discuss the succession of the annual $100 billion pledged by developing nations, as the sum may need to be raised significantly to account for the <a href="https://www.benzinga.com/markets/esg/24/10/41621596/net-zero-by-2050-might-cost-the-world-78-trillion-wood-mackenzie-estimates">increasing impact of climate change</a>. This finance component is critical for maintaining trust between rich and poor nations, especially as commitments still need to be met.
"I'm as frustrated as anyone that one single COP can't deliver the full transformation that every nation needs… [but] it is here that parties need to agree a way out of this mess. That's why here in Baku, we must agree on a new global climate finance goal,"<a href="https://unsdg.un.org/latest/stories/ambitious-new-climate-finance-goal-entirely-self-interest-every-single-nation-un"> said</a> the U.N. climate chief Simon Stiell.
The upcoming inauguration of U.S. President-elect Donald Trump in January 2025 gives participants a dose of doubt. During his previous term, Trump withdrew the U.S. from the Paris Agreement and rolled back numerous environmental regulations.
Analysts anticipate a similar approach, potentially hindering U.S. contributions to global climate finance. Trump's return could <a href="https://www.benzinga.com/news/24/11/41883635/trump-looks-to-undo-biden-climate-progress-with-burgum-as-energy-czar-report">exacerbate tensions</a>, mainly as he has been vocal about downplaying climate initiatives.
Still, greenlighting the carbon credit quality standards on the first day provides an opportunity for a U.N.-backed global carbon market that would fund critical projects.
Juan Carlos Arredondo Brun, a former climate negotiator for Mexico and now a director at a carbon market data company Abatable, noted this development &#8220;will bring us closer to operationalizing the carbon market before any single party may decide to move away from the Paris Agreement,"<a href="https://www.reuters.com/markets/commodities/cop29-countries-endorse-global-carbon-market-framework-2024-11-11/"> per</a> Reuter's report.
The carbon market, increasingly popular among corporations seeking to offset their emissions, has some of the largest buyers in the energy and automotive sectors. Shell (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>), Volkswagen (OTCPK: VWAGY), and Takeda (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAK#NYSE">TAK</a>) were the top three companies retiring carbon credits in 2023.
Shell led with 16 million credits, primarily from forestry projects, while Volkswagen retired eight million credits linked to renewable energy and reforestation. Pharmaceutical giant Takeda contributed nearly three million credits to reduce non-CO2 greenhouse gases.
A standardized carbon market could be a lifeline for U.S. companies committed to carbon-emission goals. Notable examples include Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), which is delaying the launch of a next-generation all-electric pickup truck and has <a href="https://www.benzinga.com/top-stories/24/08/40496864/ford-scraps-electric-suv-as-it-adjusts-to-lower-electric-vehicle-demand">scrapped the development</a> of a new three-row electric SUV. Yet, the management has confirmed it will seek to comply with emissions targets, including purchasing carbon credits as needed.
The COP29 conference will run until Nov. 22. Setting a new annual budget could significantly impact clean energy investments. Investors should watch iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>) and sub-sector ETFs like the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) and First Trust Global Wind Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FAN#NYSE">FAN</a>).
Read Next:
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41914599/trump-led-market-honeymoon-faces-crucial-test-with-wednesdays-inflation-data">Trump-Led Market Honeymoon Faces Crucial Test With Wednesday&#8217;s Inflation Data</a></li>
</ul>
Photo: Shutterstock

Events

Global

iShares S&P Global Clean Energy Index Fund

ICLN

SHEL

VWAGY

Urgency, Debate Mark COP29 As Leaders Push For Carbon Market Rules, Worry About Trump

In the latest cannabis market analysis from <a href="https://www.benzinga.com/topic/beacon-securities-limited">Beacon Securities</a>, three major multi-state operators (MSOs) Village Farms, Green Thumb Industries, and Jushi Holdings—demonstrate distinct strategies for navigating the challenging landscape. 
Here's a look at how each company is betting on different recipes for growth.
<h3 class="wp-block-heading">Village Farms Leverages European Expansion To Offset Domestic Challenges</h3>
Village Farms International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFF#NASDAQ">VFF</a>) reported a strong Q3 performance, with <a href="https://www.benzinga.com/topic/canada-cannabis">Canadian cannabis sales</a> up 20% year-over-year to $ 27 million, despite a broader market decline of 1%. The company's strategic expansion into the Netherlands could be a game-changer. VFF is one of only 10 license holders in the country's recreational cannabis pilot program. 
According to <a href="https://beaconsecurities.ca/">Beacon&#8217;s analyst</a>, VFF&#8217;s newly completed 2,000 kg facility is expected to generate USD 12.7 million in annual revenue, with a selling price of approximately $6.40 per gram. With no excise taxes applied, the <a href="https://www.benzinga.com/markets/cannabis/24/11/41805907/village-farms-quarterly-revenue-grows-20-yoy-as-the-cannabis-company-doubles-international-sales">EBITDA margin</a> is projected at over 30%, adding $4.5 million in cash flow annually. If successful, this European foothold could contribute significantly to VFF&#8217;s goal of an annualized EBITDA of $29 million by the end of FY25​.
<h3 class="wp-block-heading">Green Thumb Industries' Cash Reserves Enable Strategic Buybacks And M&amp;A Flexibility</h3>
Green Thumb Industries (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>) showcased its financial strength in Q3, reporting $287 million in revenue, surpassing both its internal forecast of $280 million and the consensus estimate of $283 million. <a href="https://www.benzinga.com/markets/cannabis/24/11/41832358/green-thumb-grows-revenue-to-287m-in-q3-expands-cannabis-retail-network">Operating cash flow reached</a> $48 million, beating the projected $39 million. 
The company ended the quarter with $176 million in cash after repaying $225 million in debt. GTII's $150 million credit facility, secured at SOFR + 5%, positions it well for potential acquisitions without diluting shareholder value. The elimination of 280E tax burdens through federal rescheduling could boost GTII&#8217;s free cash flow by 30%, further enhancing its financial flexibility as it targets high-margin branded products and strategic expansion.
Read Also:<a href="https://www.benzinga.com/24/11/41915099/cannabis-stocks-pop-following-chris-christies-prediction-on-trumps-policy-shift"> Cannabis Stocks Pop Following Chris Christie&#8217;s Prediction That Trump Will Deschedule Cannabis</a>
<h3 class="wp-block-heading">Jushi Holdings Bets Big On Ohio's Emerging Adult-Use Market</h3>
Jushi Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/JUSH#OTC">JUSH</a>) faced a challenging quarter, with revenue declining 6% year-over-year to $62 million, missing the $67 million forecast. Adjusted EBITDA dropped to $10 million, a 30% shortfall. However, the company is <a href="https://www.benzinga.com/markets/cannabis/24/11/41829762/cannabis-co-jushi-reports-q3-earnings-higher-margins-despite-revenue-dip-whats-driving-profitabi">doubling down on Ohio'</a>s newly legalized adult-use market, where revenue surged 77% year-over-year. Jushi plans to open up to eight dispensaries in <a href="https://www.benzinga.com/topic/ohio-cannabis">Ohio</a>, including four pending acquisitions. 
The expansion aims to counter headwinds from increased competition in core markets like<a href="https://www.benzinga.com/topic/illinois-cannabis"> Illinois</a> and <a href="https://www.benzinga.com/topic/pennsylvania-cannabis">Pennsylvania</a>. Jushi's streamlined management approach, including the appointment of a new Chief Revenue Officer, is expected to drive annual savings of $2.2 million while the company works through operational challenges​.
Read Next: EXCLUSIVE: <a href="https://www.benzinga.com/markets/cannabis/24/11/41910180/exclusive-chris-christie-says-trump-will-remove-federal-restrictions-on-marijuana-find-sweet-spot-for-crypto-regulation">Chris Christie Says Trump Will Remove Federal Restrictions On Marijuana, Find &#8216;Sweet Spot&#8217; For Crypto Regulation</a>

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Three Paths To Cannabis Profits: Village Farms, Green Thumb, And Jushi Show Divergent Strategies—Which Will Deliver?

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