Wisr Limited (ASX:WZR) revealed its business update and Appendix 4C for the fourth quarter ending 30 June 2020.
The company delivered several growth records for the quarter, comprising an upsurge of 50% in revenue as compared to the previous quarter. Nearly A$19.1 million in loan originations delivered in June exceeds A$13.8 million in May, with almost 38% month-on-month growth.
Notably, Wisr is well-capitalised through COVID-19 and beyond with A$40.0 million in cash and liquid loan assets as of 30 June 2020.
On 28 July 2020, WZR stock quoted at A$0.270 up by 5.882% at AEST 12:06 PM.
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Find out the drivers for the rise in cannabis stock rates Even though the cannabis sector is in its growing phase, Australian cannabis stocks have already started to rise actively due to a hastily increasing patient base, and a legislative landscape that is gradually beginning to liberalise.
Outreach and future of cannabis stocks As countries liberalise regulation for medical and recreational use of cannabis, it is predicted that the industry would grow sharply in upcoming years The global cannabis market stands currently at around $8 billion and it is expected that the hemp derived CBD market to hit approximately $22 billion by 2022.
Key Players in the sector Althea Group Holdings Limited (ASX: AGH) and Cann Group Limited (ASX: CAN) are amongst the top players. Other Australia cannabis market players are- MGC Pharmaceuticals Ltd (ASX: MXC), Elixinol Global Limited (ASX: EXL), THC Global Group Limited (ASX: THC), AusCann Group Holdings Limited (ASX: AC8)