Revenue Growth and Short Squeeze Hopes Supercharge Edible Garden (EDBL) Stock


  • Edible Garden (HMC) stock is taking off on Wednesday after posting its first-quarter results.
  • The company saw strong revenue growth year-over-year (YOY).
  • It also may be experiencing a short squeeze today.
EDBL Stock - Revenue Growth and Short Squeeze Hopes Supercharge Edible Garden (EDBL) Stock

Source: monticello/

Edible Garden (NASDAQ:EDBL) stock is in the rise Wednesday alongside a strong first-quarter earnings report and a potential short squeeze.

Edible Garden’s Q1 earnings report includes revenue of $3.1 million. While that’s below Wall Street’s estimate of $3.2 million, it still represents a 27.6% increase year-over-year (YOY).

Edible Garden CEO Jim Kras said the following about the company’s Q1 performance:

“We have achieved consistent top-line revenue growth over recent quarters, and more importantly, have increased our margins since we started reducing our reliance on third-party growers in the latter half of 2023. The benefits of this strategic shift became apparent at the end of last year and continued into the first quarter of 2024.”

EDBL Stock Short Squeeze

Adding to this earnings report is heavy trading of EDBL stock today. This has more than 15 million shares changing hands as of this writing. That’s a massive increase compared to its daily average trading volume of about 605,000 shares.

Investors will note that this heavy trading comes with high short interest in EDBL stock. 109,064 of the company’s shares are shorted. That represents 37.81% of its float.

EDBL stock is up 36.7% as of Wednesday morning. However, the stock is still down 40.7% since the start of the year.

Investors will want to keep reading for even more of the most recent stock market stories!

We have all of the hottest stock market news traders need to know about on Wednesday. A few examples include an AMC Entertainment (NYSE:AMC) stock offering, Honda (NYSE:HMC) layoffs and more. All of this info is ready to go at the links below!

More Stock Market News for Wednesday

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

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