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

The recent earnings reports from eight major Multi-State Operators (MSOs) in the cannabis industry show mixed results on revenue and EBITDA, but the standout detail is the positive Cash Flow from Operations (CFFO) in Q3. Most companies beat consensus projections for CFFO, with tax deferrals being a significant driver. Investors are advised to focus on CFFO rather than revenue or EBITDA, and to distinguish between repeatable cash flows and future cash outflows due to deferred payments. The Viridian Cannabis Deal Tracker provides insights into capital raise and M&A activity in the cannabis sector.

Portfolio Pulse from Viridian Capital Advisors

November 13, 2023 | 4:47 pm

Verano Holdings Corp (OTCQX:VRNOF) showcased strong Q3 earnings with a gross profit of $133.22 million and an adjusted EBITDA of $89.35 million. Despite a net loss of $17.84 million, the figures represent an improvement over previous periods. The company's leadership discussed these results and strategies in a live interview on Benzinga Cannabis Insider.

Portfolio Pulse from Patricio Liddle

November 10, 2023 | 9:06 pm

Needham analyst Matt McGinley has maintained a 'Buy' rating on Verano Holdings (OTC:VRNOF) and raised the price target from $5 to $6.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 10:17 pm

Verano Holdings Corp. reported Q3 revenue of $240.09 million, up from $234.12 million in the previous quarter. The company also raised its free cash flow guidance for 2023 to $72-76 million, up from $65-75 million, and lowered its capital expenditures guidance to $30-37 million, down from $35-50 million. Verano's shares closed 9.47% higher at $3.93 per share.

Portfolio Pulse from Nina Zdinjak

November 08, 2023 | 1:25 pm

Zuanic & Associates analyst Pablo Zuanic has initiated coverage on Verano Holdings (OTC:VRNOF) with an Overweight rating.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 12:59 pm

Equity research firm Zuanic & Associates has initiated coverage of cannabis company Verano Holdings Corp. (OTC:VRNOF) with an Overweight rating. The firm believes Verano's stock is undervalued given its strong financial metrics, including profitability, cash flow, and balance sheet strength. Verano operates in 13 states with a total addressable market of $13.5 billion, projected to grow to $17.7 billion by 2025. The company also has the highest free cash flow among the 20 Multi-State Operators (MSOs) reviewed.

Portfolio Pulse from Nicolás Jose Rodriguez

November 03, 2023 | 6:34 pm

Equity research firm Zuanic & Associates has initiated coverage of TILT Holdings (OTC:TLLTF) with an Overweight rating. The firm highlighted the value of TILT's vape hardware franchise and potential synergies between its plant-touching and vape divisions. TILT's cannabis business is gaining momentum in Massachusetts, Ohio, and Pennsylvania. The company's financial stability is also noted, with TILT well-placed to meet its debt maturities until the end of 2025. The firm's bullish case is based on TILT's earnings growth and a reduction in the peer discount.

Portfolio Pulse from Nicolás Jose Rodriguez

November 03, 2023 | 3:53 pm

Workers at Home State Dispensary in Missouri have voted to join Teamsters Local 955, marking the first group of cannabis workers in the Kansas City metropolitan area to unionize. The Missouri cannabis industry is projected to gross over $1 billion in revenue this year. The International Brotherhood of Teamsters and the United Food and Commercial Workers Union (UFCW) have been actively engaging with cannabis industry workers across the U.S. Recent unionization efforts have been successful within companies like Ayr Wellness, Cannabist Company Holdings, Cresco Labs Stock, Grassdoor, and Verano Holdings Corp.

Portfolio Pulse from Nina Zdinjak

November 02, 2023 | 1:14 pm

Wu-Tang Clan's Raekwon, Charlamagne tha God, and a South Carolina civil rights lawyer have been granted a license to expand the Hashstoria dispensary in Newark, which will feature a cannabis consumption lounge. In Florida, Trulieve Cannabis Corp., Verano Holdings Corp., and Green Thumb Industries Inc. have expanded their retail footprint. Trulieve recently donated an additional $500,000 to Florida's ballot initiative to legalize recreational marijuana. Medicine Man Technologies, operating as Schwazze, announced a cannabis store-within-a-store model in Fort Collins. High Tide Inc. launched sales of recreational cannabis products and consumption accessories at its 157th Canna Cabana branded retail cannabis location in Canada.

Portfolio Pulse from Jelena Martinovic

October 31, 2023 | 2:08 pm

A coalition of U.S. cannabis operators and investors, including Verano Holdings (VRNOF), Ascend Wellness (AAWH), TerrAscend (TSNDF), and Green Thumb Industries (GTBIF), have filed a lawsuit against U.S. Attorney General Merrick Garland to block the federal government from enforcing cannabis prohibition for state-legal activity. The lawsuit argues that the Controlled Substances Act, which bars the production, distribution, and possession of marijuana, exceeds the federal government's power to regulate commerce. The plaintiffs claim that federal prohibition harms their businesses and hinders states' efforts to provide regulated and tested cannabis.

Portfolio Pulse from Maureen Meehan

October 26, 2023 | 8:59 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.