Streetbeat News

VRNOF

Verano Holdings Corp

Industry

Pharmaceutical Preparation Manufacturing

Open

2.30

Mkt cap

1.5B

Volume

478K

High

2.30

P/E Ratio

-5.54

52-wk high

7.08

Low

1.88

Div yield

N/A

52-wk low

1.88

Florida cannabis companies, including Cresco Labs, Trulieve Cannabis Corp., Ayr Wellness, and Verano Holdings, are closing operations due to Hurricane Milton. Despite the storm, Governor DeSantis refused to extend the voter registration deadline, affecting the upcoming elections and cannabis legalization vote.

Portfolio Pulse from Maureen Meehan

October 10, 2024 | 6:37 pm

The transition from medical to recreational marijuana in Connecticut is causing issues such as lack of consistent medication, high prices, and poor quality. Erin Gorman Kirk and Matt Hawkins discuss the challenges and potential solutions, including licensing models and legislative proposals.

Portfolio Pulse from Nina Zdinjak

October 09, 2024 | 5:20 pm

Verano Holdings CEO George Archos discusses the potential rescheduling of cannabis from Schedule I to Schedule III, which could significantly impact the industry by removing tax burdens and enabling further reforms like banking access. Archos emphasizes Verano's adaptability in navigating fragmented regulations and highlights the company's mission driven by personal experiences with cannabis. Verano's hospitality approach in its retail stores is seen as a competitive advantage.

Portfolio Pulse from Franca Quarneti

October 09, 2024 | 1:27 pm

The removal of Section 280E from the Internal Revenue Code could allow cannabis companies to operate like normal businesses, enabling them to deduct typical business expenses. This change would provide companies like Verano Holdings and others with more funds for R&D and make them more attractive to investors. The potential rescheduling of cannabis could further enhance these benefits.

Portfolio Pulse from Jelena Martinovic

October 08, 2024 | 6:48 pm

Verano President Darren Weiss discusses the impact of rescheduling on retail dynamics and interstate commerce in the cannabis industry. He notes that while multi-state operators may want to run retail stores, rescheduling does not facilitate interstate commerce, making vertical integration in every market unnecessary.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 3:29 pm

Verano President Darren Weiss expresses optimism about the momentum in cannabis law liberalization, highlighting public support and potential Congressional movement. He notes the challenges US companies face compared to Canadian counterparts and the significance of rescheduling.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 3:24 pm

Verano President Darren Weiss discusses the impact of rescheduling on cannabis companies like Verano, highlighting the potential for increased cash flow and the ability to focus on long-term value. This change allows these companies to operate more like traditional businesses.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 3:11 pm

FiSai US Management, a major creditor of The Cannabist Company, has publicly expressed concerns over the company's management and financial strategy. FiSai holds $50 million in secured notes and is worried about The Cannabist's liquidity issues and debt burden, which includes $60 million due by 2025 and $185 million by 2026. The lender criticized the company's 'pray and hope' approach and its recent asset sale to Verano, as well as a failed merger with Cresco.

Portfolio Pulse from Rolando García

October 04, 2024 | 8:13 pm

Verano Holdings Corp. is set to release its Q3 2024 financial results following a significant acquisition of assets from The Cannabist Company Holdings Inc. The acquisition, valued at $105 million, aims to expand Verano's presence in Virginia and Arizona. Verano has also partnered with Mike Tyson's TYSON 2.0 to introduce products in Florida and Illinois. The company's shares were trading lower at the time of reporting.

Portfolio Pulse from Jelena Martinovic

October 04, 2024 | 2:09 pm

Cannabis companies are expanding their presence in various states as legalization efforts continue. Curaleaf has opened a new dispensary in Florida, C3 Industries expands in Illinois, RIV Capital launches adult-use sales in NYC, and Verano Holdings opens a new store in Arizona.

Portfolio Pulse from Jelena Martinovic

October 03, 2024 | 5:42 pm

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