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Adastra Labs Holdings Ltd. ( (TSE:XTRX) ) has shared an update.
Adastra Holdings Ltd. has announced agreements to sell its subsidiaries, Adastra Labs Holdings (2019) Ltd., 1178562 B.C. Ltd., and Adastra Brands Inc., for a total consideration of $4 million. This move is part of the company’s strategy to strengthen its balance sheet, reduce debt, and streamline operations. The sale includes a leaseback agreement and an intellectual property licensing deal, allowing Adastra to continue operating from its existing facility and retain the use of its established brands. These transactions are expected to be completed soon, subject to customary closing conditions.
The most recent analyst rating on (TSE:XTRX) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on Adastra Labs Holdings Ltd. stock, see the TSE:XTRX Stock Forecast page.
Spark’s Take on TSE:XTRX Stock
According to Spark, TipRanks’ AI Analyst, TSE:XTRX is a Neutral.
Adastra Labs Holdings Ltd. has a low overall stock score primarily due to significant financial challenges, including declining revenue, persistent losses, and high leverage. Technical indicators suggest weak momentum, and the negative P/E ratio reflects unprofitability, further impacting the stock’s attractiveness.
To see Spark’s full report on TSE:XTRX stock, click here.
More about Adastra Labs Holdings Ltd.
Adastra Holdings Ltd. is a leader in Canada’s supply and manufacturing of ethnobotanical and cannabis products for lawful adult use. The company serves medical markets and focuses on therapeutic applications, with products sold through over 2,000 retail locations across Canada. Adastra specializes in the extraction, distillation, and manufacturing of cannabis-derived products and collaborates with healthcare professionals to create products for the medical cannabis market.
Average Trading Volume: 7,228
Technical Sentiment Signal: Sell
Current Market Cap: C$1.29M
For detailed information about XTRX stock, go to TipRanks’ Stock Analysis page.