Marijuana Company Verano Holdings Worth $2.1B, Outprices Its Expected 2024 Earnings
Portfolio Pulse from Nicolás Jose Rodriguez
Verano Holdings (OTC:VRNOF), a marijuana company, is valued at $2.1 billion, outpacing its expected 2024 earnings despite a forecasted 5-7% dip in Q1 2024 sales, mainly due to retail pressures in New Jersey. The company has seen mixed performance across key states, with significant growth in Florida but declines in Illinois, New Jersey, Arizona, and Pennsylvania. However, it has shown resilience with a 16% stock increase over the past 90 days. The broader MSOS ETF (NYSE:MSOS) outperformed Verano with a 23% gain. The financial outlook remains positive, with potential growth drivers including state-level cannabis legalization and the SAFER Banking Act.
March 14, 2024 | 2:42 pm
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POSITIVE IMPACT
MSOS ETF outperformed Verano with a 23% gain, reflecting broader market optimism in the cannabis sector.
The MSOS ETF's superior performance compared to Verano highlights broader market optimism and investor interest in the cannabis sector, potentially indicating continued positive momentum.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Verano Holdings, valued at $2.1 billion, faces a 5-7% sales dip in Q1 2024 but remains optimistic with a 16% stock increase over the past 90 days.
Despite the expected short-term sales dip, Verano's significant valuation and recent stock performance indicate strong investor confidence and growth potential, especially with the possibility of state-level cannabis legalization acting as a catalyst.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100