Streetbeat News

ACRDF

Acreage Holdings Inc

http://investors.acreageholdings.com

CEO

Kevin Murphy

Employees

1,090

Industry

Medicinal and Botanical Manufacturing

Open

0.12

Mkt cap

4.9M

Volume

51K

High

0.13

P/E Ratio

-0.14

52-wk high

0.68

Low

0.11

Div yield

N/A

52-wk low

0.03

The U.S. House Committee on Agriculture approved an amendment to the new Farm Bill that would eliminate most hemp-derived products, including those with any level of THC. This amendment aims to close a loophole from the 2018 Farm Bill that allowed intoxicating hemp products like Delta-8 THC to be sold. The amendment has sparked a divide between the cannabis and hemp industries, with significant opposition from hemp advocates and some cannabis companies supporting stricter regulations.

Portfolio Pulse from Nina Zdinjak

May 24, 2024 | 12:59 pm

The cannabis industry is experiencing significant growth with new store openings and consumption lounges across the U.S. Florida's Supreme Court approved a recreational cannabis legalization initiative, leading to new dispensaries by Cansortium Inc. and Trulieve Cannabis Corp. Michigan, California, Nevada, New Jersey, New York, and Texas also saw new cannabis retail developments. Notably, Planet 13 Holdings Inc. opened Nevada's second state-approved consumption lounge. The Benzinga Cannabis Capital Conference in Florida highlights the industry's expansion and future prospects.

Portfolio Pulse from Jelena Martinovic

April 09, 2024 | 3:38 am

In Atlantic City, N.J., Catholic nuns' efforts to prevent a cannabis dispensary from opening near their convent were unsuccessful as city officials approved the business. The city aims to become the East Coast hub for cannabis, with Mayor Marty Small Sr. and cannabis czar Kashawn McKinley leading the initiative. The Franciscan Sisters of the Renewal Convent raised concerns about the dispensary's impact on their educational and sobriety programs. Despite opposition from religious groups, the city's cannabis industry is expanding, with several multi-state operators including Acreage Holdings, Ascend Wellness, AYR Wellness, Curaleaf, Green Thumb, Columbia Care, TerrAscend, and Verano Holdings.

Portfolio Pulse from Maureen Meehan

December 26, 2023 | 6:16 am

New York Governor Kathy Hochul announced the launch of 12 new dispensaries for recreational cannabis, aiming to have over 35 open by the end of 2023. The expansion is part of the state's commitment to an equitable cannabis market. The NY Supreme Court recently lifted an injunction that had been blocking retail dispensary licenses. Companies like Acreage Holdings Inc., Cresco Labs Inc., and The Cannabist Company Holdings Inc. are among those permitted to sell adult-use cannabis. Experts suggest cannabis stocks are now poised for growth.

Portfolio Pulse from Jelena Martinovic

December 15, 2023 | 5:54 pm

The Cannabist Company Holdings Inc. and RIV Capital Inc. have received approval from the New York Office of Cannabis Management for adult-use cannabis operations. The Cannabist will begin wholesale distribution immediately and plans to open its first retail location in NYC. RIV Capital's Etain, LLC will transition to an adult-use operator and anticipates opening its first co-located MMJ and adult-use retail dispensary in early 2024. Other companies like Acreage Holdings Inc. and Cresco Labs have also been permitted to sell adult-use cannabis in New York.

Portfolio Pulse from Jelena Martinovic

December 11, 2023 | 3:32 pm

The Viridian Chart of the Week analyzes the balance between valuation and credit risk in cannabis stocks post Q3 earnings. It uses EV/2024 Consensus EBITDA estimates and a proprietary Credit Risk Score to assess attractiveness. Green Thumb (GTBIF) ranks most attractive, while Cansortium (CNTMF) and AYR (AYRWF) offer a balance of low valuation and credit risk. Curaleaf (CURLF) and Acreage (ACRDF) appear less attractive due to high valuation multiples and poor credit scores, respectively. The Viridian Cannabis Deal Tracker monitors industry capital raises and M&A activity.

Portfolio Pulse from Viridian Capital Advisors

November 20, 2023 | 7:33 pm

Acreage Holdings, Inc. (OTCQX:ACRDF) reported a decrease in Q3 revenue by 8% YoY and 2.8% QoQ, with consolidated revenue of $56.5 million. The company narrowed its net loss by nearly 70% YoY to $7.8 million and reported its eleventh consecutive quarter of positive adjusted EBITDA at $6.6 million. Acreage Holdings saw a 27% increase in Connecticut sales and a 34% increase in New Jersey sales year-to-date. The company's stock traded 3.1554% lower at $0.275 per share after the market close on Tuesday.

Portfolio Pulse from Jelena Martinovic

November 15, 2023 | 2:12 pm

The Viridian Credit Tracker Model uses 11 market and financial variables to quantify four main credit factors: Liquidity, Leverage, Profitability, and Size. The model suggests that the best single number that an investor can calculate is Total Liabilities/ Market Cap. The model shows moderate improvement for C21 (OTC:CXXIF), Unrivaled (OTC:UNRV), Glass House (OTC:GLASF), TerrAscend (OTC:TSNDF), and AYR (OTC:AYRWF) while MariMed (OTC:MRMD), Trulieve (OTC:TRUL), and Cannabist (OTC:CBSTF), show moderate deterioration. Schwazze, Red White & Bloom (OTC:RWBYF), and Acreage (OTC:ACRDF) all show more significant deterioration.

Portfolio Pulse from Viridian Capital Advisors

October 16, 2023 | 4:23 pm

The article lists the cannabis stocks that gained and lost on August 24, 2023. Notable gainers include EVIO, Red White & Bloom Brands, and CBD Unlimited. Major losers include Choom Holdings, Radient Technologies, and Target Group.

Portfolio Pulse from Benzinga Insights

August 24, 2023 | 9:30 pm

On August 23, 2023, several marijuana stocks experienced significant price movements. Notable gainers included Hemp (OTC:HEMP), 1933 Industries (OTC:TGIFF), and SLANG Worldwide (OTC:SLGWF), while notable losers included Red White & Bloom Brands (OTC:RWBYF), Heritage Cannabis Holding (OTC:HERTF), and CordovaCann (OTC:LVRLF).

Portfolio Pulse from Benzinga Insights

August 23, 2023 | 9:30 pm

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