Level Up Your Cannabis Experience: Join Verano's New Cabbage Club
Portfolio Pulse from Jelena Martinovic
Verano Holdings Corp. (OTCQX:VRNOF) has launched the Cabbage Club, a national cannabis membership program, initially available in its 13 Zen Leaf dispensaries in New Jersey and Illinois, with plans to expand across its 138 dispensaries in 13 states. The club offers various membership levels with benefits including store credits, coupons, exclusive merchandise, and VIP event access. Verano's shares were down 1.70% at $5.21 per share following the announcement.
March 20, 2024 | 5:04 pm
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Verano Holdings Corp. launched the Cabbage Club, a cannabis membership program, with plans for expansion. Shares fell 1.70% to $5.21.
The launch of the Cabbage Club represents a significant development in Verano's business strategy, aiming to enhance customer loyalty and potentially increase sales through its membership program. However, the immediate market reaction was negative, as indicated by a 1.70% drop in share price. This could be due to investor concerns about the initial costs of setting up the program and its short-term impact on profitability. Over time, if the program successfully drives customer engagement and sales, the perception could improve.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100