AFC Gamma stock rises on stronger-than-expected distributable earnings

AFC Gamma Inc.

shares rose 3.8% in premarket trades after the debt provider to cannabis companies posted better-than-expected distributable earnings. AFC Gamma said its fourth-quarter net income fell to $2.94 million, or 14 cents a share, from $7 million, or 43 cents a share, in the year-ago quarter. Distributable earnings rose to $12.62 million, 62 cents a share, from $8.5 million, or 52 cents a share, in the year-ago quarter.

shares rose 3.8% in premarket trades after the debt provider to cannabis companies posted better-than-expected distributable earnings. AFC Gamma said its fourth-quarter net income fell to $2.94 million, or 14 cents a share, from $7 million, or 43 cents a share, in the year-ago quarter. Distributable earnings rose to $12.62 million, 62 cents a share, from $8.5 million, or 52 cents a share, in the year-ago quarter.

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