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

A landmark cannabis bill is headed to the Senate floor, which could be a game-changer for the U.S. cannabis industry. The bill aims to eliminate the need for legal cannabis businesses to operate in cash, reducing the risk of robberies, money laundering, and organized crime. The bill's passage could also lead to a reduction in the 75% effective tax rate that U.S. cannabis operators currently face. The article also discusses the performance of the NYSE-listed ETF MSOS and the stocks of Village Farms (NASDAQ:VFF) and Verano (OTC:VRNOF).

Portfolio Pulse from Todd Harrison

October 04, 2023 | 4:02 pm

Verano Holdings Corp. (CSE:VRNO) has received conditional approval from Cboe Canada to list its Class A subordinate voting shares. The company plans to delist the shares from the Canadian Securities Exchange and does not require any corporate restructuring for the transition. The shares will continue trading under the same symbol “VRNO” in Canada and “VRNOF” in the U.S. The move is expected to provide improved access to liquidity for investors and position the company well for a U.S. listing in the future.

Portfolio Pulse from Nina Zdinjak

October 03, 2023 | 2:39 pm

Verano Holdings Corp. and TILT Holdings Inc. are launching campaigns for Breast Cancer Awareness Month. Verano's campaign will span across eleven states, with customers at Zen Leaf and MÜV dispensaries supporting the Lynn Sage Breast Cancer Foundation. TILT's subsidiary, Standard Farms, will donate $5 to the PA Breast Cancer Coalition for each Jupiter Pink Ceramic Mouth Tip vape cartridge sold in October. Florida-based Sunmed | Your CBD Store is also participating, donating 3% of online sales and $1 from specially marked in-store products to the National Breast Cancer Foundation.

Portfolio Pulse from Joana Scopel

October 01, 2023 | 3:07 am

The cannabis industry's mergers and acquisitions (M&A) landscape is undergoing a transformation, with potential regulatory reforms such as the SAFE Banking Act and the rescheduling of cannabis. These changes could provide financial stability to cannabis companies, attract investors, and make M&A opportunities more competitive. Verano Holdings Corp. (OTC:VRNOF) highlighted the significant impact of the 280E tax provision, estimating potential annual tax savings of $700 million for top public MSOs with reform.

Portfolio Pulse from Joana Scopel

September 28, 2023 | 3:29 pm

Illinois Governor JB Pritzker will be a keynote speaker at the Benzinga Cannabis Capital Conference, discussing the state's successful legalization of marijuana. Key players in the Illinois market, including Cresco Labs Inc, Verano Holdings Corp, and Green Thumb Industries Inc, have created 30,000 jobs and helped the state's marijuana sales reach $1.5 billion in 2022.

Portfolio Pulse from Jelena Martinovic

September 28, 2023 | 1:44 pm

Cannabis industry leaders shared their strategies for success without relying on the SAFE Banking Act at the 2024 Benzinga Cannabis Capital Conference. Darren Weiss, president of Verano Holdings Corp (OTCQX:VRNOF), emphasized building a sustainable business without assuming cash availability. Jamie Mendola from Ayr Wellness (OTCQX:AYRWF) noted a slight improvement in risk appetite in the sector. Alex Gray from Good Day Farm suggested that capital will be more readily available once either SAFER or rescheduling happens. The leaders advised focusing on core markets, staying lean, and building a business that can stand on its own.

Portfolio Pulse from Nina Zdinjak

September 28, 2023 | 12:36 pm

The article discusses the potential for institutional investors to migrate to cannabis stocks, with a focus on the recent HHS recommendation for rescheduling cannabis. It also covers the potential implications of the SAFE Banking Act and the impact of 280E tax provision on cannabis companies. The article features insights from executives of several cannabis companies including Glass House, TerrAscend, Verano, Village Farms, AdvisorShares' MSOS, 4Front, Trulieve, and Cresco Labs.

Portfolio Pulse from Todd Harrison

September 22, 2023 | 5:40 pm

The Alabama Medical Cannabis Commission's license allocation process is under scrutiny due to alleged ties with Russian oligarch, Andrey Blokh, who is the second-biggest shareholder at Curaleaf Holdings, Inc. and partially owns 3 Notch Roots LLC, a company awarded a license. Blokh is linked to Roman Abramovich, who has been secretly investing in cannabis companies and was sanctioned by the U.K., the EU, and the U.S. following Russia's invasion of Ukraine. Curaleaf and its chairman, Boris Jordan, were also targeted due to potential connections to Russia.

Portfolio Pulse from Jelena Martinovic

September 21, 2023 | 4:26 pm

Zuanic & Associates has analyzed the financial net debt metrics of 20 multi-state operators (MSOs) in the cannabis industry to identify potential candidates for equity raises or debt restructuring. Trulieve and Curaleaf have the highest net debt among the group. The report also includes income tax payables, gross leases, and warrant derivative liabilities in its definition of net debt, revealing that Curaleaf, Cresco, and Trulieve hold the highest absolute 'broad' net financial debt. Several MSOs, including Acreage, Ascend Wellness, AYR, Columbia Care, 4Front, iAnthus, Jushi, StateHouse, and TerrAscend, present a higher probability of needing equity raises.

Portfolio Pulse from Nicolás Jose Rodriguez

September 21, 2023 | 2:55 pm

The second annual Benzinga Cannabis Awards finalists have been announced, with winners to be revealed at the Benzinga Cannabis Capital Conference in Chicago on September 27-28. The awards recognize leaders in the cannabis industry across various categories. Notable finalists include Rubicon Organics (OTC:ROMJF), SNDL (NASDAQ:SNDL), Village Farms (NASDAQ:VFF), Innovative Industrial Properties (NYSE:IIPR), TerrAscend (OTC:TRSSF), Verano Holdings (OTC:VRNOF), iSpire Technology (NASDAQ:ISPR), Jushi Holdings (OTC:JUSHF), Leafly Holdings (NASDAQ:LFLY), and Springbig (OTC:SBIG).

Portfolio Pulse from Javier Hasse

September 20, 2023 | 6:48 pm

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