Streetbeat News

VRNOF

Verano Holdings Corp

Industry

Pharmaceutical Preparation Manufacturing

Open

1.78

Mkt cap

610M

Volume

135K

High

1.83

P/E Ratio

-4.07

52-wk high

7.08

Low

1.68

Div yield

N/A

52-wk low

1.42

Zuanic & Associates initiated coverage of Jushi Holdings Inc. with an Overweight rating, citing its undervaluation and strategic positioning in the cannabis sector. The firm highlights Jushi's potential for significant growth, especially with the anticipated shift to recreational cannabis sales in Pennsylvania and Virginia. The analysis also compares Jushi's valuation to other key players in the industry, such as Green Thumb Industries and Curaleaf Holdings, and discusses the broader competitive landscape. Additionally, the report touches on the potential for industry consolidation and Jushi's financial resilience.

Portfolio Pulse from Nicolás Jose Rodriguez

February 21, 2024 | 1:59 pm

Cannabis sales in Colorado and Michigan have declined, with Colorado experiencing its lowest sales year since 2017 and Michigan facing a 13.5% drop in January sales despite a record December. Virginia is advancing towards retail marijuana sales with the passing of HB698, aiming for a January 1, 2024 start. Key players in these markets include Schwazze, Red White & Bloom Brands, TerrAscend, 4Front, Ascend Wellness Holdings, Cresco, Verano, The Cannabist Company Holdings, Green Thumb Industries, and Jushi Holdings.

Portfolio Pulse from Nicolás Jose Rodriguez

February 12, 2024 | 11:57 pm

As Super Bowl LVIII approaches in Las Vegas, Nevada's cannabis industry is poised to benefit from increased visitor traffic, thanks to legislative reforms and strategic market positioning. The state has raised legal possession limits and removed medical license requirements for retailers. Nevada's cannabis market, valued at $850 million, is stabilizing with slight sales fluctuations but overall strong economic indicators. The market features 104 dispensaries with high revenue per store and wholesale prices. Leading brands and public multi-state operators (MSOs) like AYR Wellness, Curaleaf Holdings, Green Thumb Industries, and Planet 13 Holdings are key players. Planet 13 stands out for maintaining its market share and enhancing customer experience with innovative offerings.

Portfolio Pulse from Nicolás Jose Rodriguez

February 09, 2024 | 8:58 pm

Florida's legal cannabis market is estimated to reach $2.6B in sales in 2023. The state has a robust medical cannabis market with 871,459 registered patients. The top ten competitors in Florida account for 85% of dispensaries, with Surterra, AYR, Trulieve, Verano, and Curaleaf having significant shares. Green Thumb, Cannabist, Cresco, TerrAscend, and Ascend have little or no presence. Store growth outpaces patient growth, suggesting potential overexpansion. The market anticipates adult recreational use, which could double revenues, but faces legal challenges. The Viridian Cannabis Deal Tracker monitors industry trends and transactions.

Portfolio Pulse from Viridian Capital Advisors

January 30, 2024 | 3:56 pm

The DOJ has requested a federal court to dismiss a lawsuit from the cannabis industry seeking to stop the federal ban on marijuana. The DOJ argues that the court should await the DEA's rescheduling decision and that the plaintiffs lack standing, as they haven't faced federal prosecution. The government also cites the constitutional regulation of intrastate marijuana activities and a lack of substantial risk of future enforcement. The lawsuit involves several cannabis companies, including Verano Holdings, Ascend Wellness, Green Thumb Industries, and TerrAscend.

Portfolio Pulse from Maureen Meehan

January 24, 2024 | 3:53 pm

The DOJ intends to seek dismissal of a lawsuit filed against U.S. Attorney General Merrick Garland by Massachusetts cannabis industry players, challenging federal marijuana prohibition. The lawsuit claims prohibition harms businesses by denying them financial services and tax benefits, and poses public safety risks. Plaintiffs include Gyasi Sellers of Treevit, Canna Provisions, Wiseacre Farm, and publicly traded companies Verano Holdings, Ascend Wellness Holdings, Green Thumb Industries, and TerrAscend. The DOJ is also requesting to submit an extended legal memorandum to address constitutional issues. This comes as the DEA considers rescheduling cannabis following a recommendation from the HHS.

Portfolio Pulse from Nina Zdinjak

January 23, 2024 | 3:16 pm

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

Maryland and Rhode Island saw record cannabis sales in December, with Maryland reaching $96.5 million and Rhode Island over $107.8 million for the year. Recreational cannabis dominated sales in Maryland, while both states saw high demand for edibles, prerolls, vape carts, and prepackaged flower. Curaleaf Holdings, Green Thumb Industries, Verano Holdings, and Cresco Labs are among the companies that transitioned to adult-use shops in Maryland. Experts suggest cannabis stocks are now poised for growth, with significant gains already seen in some stocks.

Portfolio Pulse from Jelena Martinovic

January 17, 2024 | 6:20 pm

Cannabis stocks and ETFs saw a surge in trading following the release of HHS documents recommending the DEA to reschedule cannabis from Schedule I to Schedule III. The documents and statements from HHS officials suggest cannabis has accepted medical use and a lower potential for abuse, fueling investor optimism for potential regulatory changes that could benefit the industry.

Portfolio Pulse from Jelena Martinovic

January 16, 2024 | 5:56 pm

New York has seen significant growth in its cannabis industry, with nearly 6,200 licenses issued last year. Several new cannabis shops have opened in NY, with The Flowery, The Herbal Care, and Verona Collective among them. Orange County Cannabis also launched sales. Ascend Wellness Holdings opened a new store in Ohio, Jushi Holdings relocated a dispensary in Pennsylvania, and Verano Holdings opened a new location in Florida. Experts suggest cannabis stocks are now poised for growth, with Benzinga PotProfits highlighting recent gains in cannabis stocks such as GTBIF, TCNNF, and VFF.

Portfolio Pulse from Jelena Martinovic

January 16, 2024 | 1:52 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.