Streetbeat News

CCHWF

Columbia Care Inc

Industry

Medicinal and Botanical Manufacturing

Open

1.19

Mkt cap

521M

Volume

2.9M

High

1.25

P/E Ratio

-1.12

52-wk high

2.06

Low

0.93

Div yield

N/A

52-wk low

0.36

West Virginia Delegate Evan Hansen introduced House Bill 4873 to legalize recreational cannabis for adults over 21. The bill follows a similar unsuccessful attempt with House Bill 2091 and comes amid suggestions by Senate President Craig Blair to use marijuana legalization as a strategy against the state's fentanyl crisis. The bill proposes a 15% excise tax and a local 6% tax to fund county and municipal needs. Multi-state medical marijuana operators like Trulieve Cannabis Corp., Columbia Care Inc., Heritage Cannabis Holding Corp, and Verano Holdings could benefit if the bill passes.

Portfolio Pulse from Nina Zdinjak

January 19, 2024 | 1:56 pm

Connecticut, Maryland, and Maine have seen booming cannabis markets, with record sales in December 2023 for Connecticut ($27.5 million) and significant annual sales for Maryland ($700 million) and Maine ($200 million). Companies like Ascend Wellness Holdings, iAnthus Capital Holdings, and others are experiencing revenue growth. Maryland's market is particularly strong post-legalization, with $270 million in Q3 2023 sales. Investors are advised to watch for market saturation in Maine and potential challenges in Connecticut, such as limited testing lab capacity.

Portfolio Pulse from Nicolás Jose Rodriguez

January 11, 2024 | 8:47 pm

The cannabis industry is experiencing growth, leading to a surge in job opportunities. Key players like Cresco Labs Inc, Acreage Holdings Inc, and Columbia Care Inc. are hiring for various positions. Vangst, a cannabis staffing platform, is also recruiting for roles across the sector. Companies such as Canopy Growth Corp and Jushi Holdings Inc are seeking professionals for specific roles. A ForceBrands report highlights significant salary increases in certain positions and changing benefits trends. New job roles are anticipated to emerge in 2024, reflecting the industry's evolution.

Portfolio Pulse from Joana Scopel

January 09, 2024 | 5:25 pm

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

The cannabis market is seeing innovative products like Bloom Brand's 1G Surf Vape, Muha Meds' new vape strains, THC oral strips by The Cannabist Company & ButACake, Houseplant's Car Lighter, Laundry Day's Hudson Pipe, and Session Goods' Tinted Glass Ashtray. Bloom Brand is expanding nationwide, Muha Meds is innovating in California and Michigan, and The Cannabist Company has partnered with ButACake to introduce THC strips in New Jersey.

Portfolio Pulse from Joana Scopel

December 16, 2023 | 4:26 pm

The NY Supreme Court has lifted an injunction, allowing six medical marijuana companies to sell recreational cannabis starting Dec. 29. The companies include Columbia Care (CCHWF), Curaleaf (CURLF), Etain (owned by Riv Capital CNPOF), NYCANNA (owned by Acreage Holdings ACRHF), PharmaCann, and Valley Agriceuticals (owned by Cresco Labs CRLBF). Four other companies are eligible to apply for the recreational market, including Citiva Medical (owned by iAnthus Capital Holdings ITHUF), Fiorello Pharmaceuticals (owned by Green Thumb Industries GTBIF), MedMen (MMNFF), and Vireo Health (doing business as Goodness Growth Holdings, listed as GDNSF).

Portfolio Pulse from Maureen Meehan

December 10, 2023 | 4:32 pm

New York regulators approved six medical cannabis companies to begin adult-use sales on Dec. 29. The companies include Columbia Care, Curaleaf, Etain (owned by Riv Capital), NYCANNA (owned by Acreage Holdings), PharmaCann, and Valley Agriceuticals (owned by Cresco Labs). They can set up recreational sales at up to three of their existing medical dispensaries, but currently, each is approved for one. Four other companies are eligible to apply for the recreational market, and Citiva (owned by iAnthus Capital) and Fiorello (owned by Green Thumb Industries) were approved for new medical-only dispensaries.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 7:02 pm

Workers at Verano's Zen Leaf dispensary in Chicago have voted to join Teamsters Local 777, aiming for better working conditions and fair wages. This follows successful unionization at other Zen Leaf locations in Illinois. The Teamsters' unionization efforts in the cannabis industry are gaining momentum, with recent successes at companies like Ayr Wellness, The Cannabist Company, Cresco Labs, Grassdoor, and Strawberry Fields across various states.

Portfolio Pulse from Nina Zdinjak

December 06, 2023 | 1:01 pm

Workers at Strawberry Fields dispensary in Columbus, Ohio, voted to join Teamsters Local 413, marking the first unionization in the state's cannabis industry. This follows Ohio's legalization of adult-use cannabis. Union efforts coincide with Republican attempts to revise the legalization law. Successful unionization has also occurred at Ayr Wellness, Cannabist Company Holdings, Cresco Labs, and Verano Holdings across various states.

Portfolio Pulse from Maureen Meehan

November 17, 2023 | 9:32 pm

Cannabist Holdings, formerly known as Columbia Care, reported Q3 2023 revenues of $129M, a slight decrease from $133M in Q3 2022. The net loss improved to $36M from $38M year-over-year. Adjusted EBITDA and gross profit remained stable and decreased, respectively. The company ended the quarter with increased cash reserves and announced a stock buyback program to repurchase up to 15 million shares, reflecting confidence in the undervaluation of its shares. Operational highlights include increased wholesale revenue, steady retail revenue, and new store openings.

Portfolio Pulse from Patricio Liddle

November 14, 2023 | 7:38 pm

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