Greenrise Global Faces Filing Delay, Receives MCTO

Greenrise Global Brands Inc ( (TSE:XCX) ) has provided an announcement.

Greenrise Global Brands Inc. has announced that it has received a management cease trade order (MCTO) from the British Columbia Securities Commission due to a delay in filing its annual financial statements for the year ended December 31, 2024. The delay is attributed to the need for additional time to evaluate a recent change of ownership in its investment in a German cannabis company. The company expects to complete the filings by June 30, 2025, and will issue bi-weekly updates until then. During the MCTO, the general public can continue trading the company’s shares, but the interim CEO and CFO are restricted from trading.

Spark’s Take on TSE:XCX Stock

According to Spark, TipRanks’ AI Analyst, TSE:XCX is a Underperform.

The overall stock score is significantly impacted by the company’s critical financial condition, characterized by high leverage, negative equity, and cash flow problems. Technical analysis provides a slight positive offset with some short-term momentum, while valuation metrics reinforce concerns due to negative earnings and the lack of dividends.

To see Spark’s full report on TSE:XCX stock, click here.

More about Greenrise Global Brands Inc

Greenrise Global Brands Inc. is a publicly traded investment holding company with a focus on investments in the German cannabis industry.

YTD Price Performance: -60.0%

Average Trading Volume: 14,637

Technical Sentiment Signal: Strong Buy

Current Market Cap: C$472.4K

For detailed information about XCX stock, go to TipRanks’ Stock Analysis page.