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 potential rescheduling of cannabis to Schedule 3 could eliminate 280e taxes, which have been negatively impacting cannabis companies by reducing their internally funded growth and limiting their debt capacity. The elimination of 280e could save these companies around $700M annually. The article mentions Ascend Wellness (OTC:AAWH), MariMed (OTC:MRMD), Green Thumb (OTC:GTBIF), and Verano (OTC:VRNOF) as companies that could benefit from this change.

Portfolio Pulse from Viridian Capital Advisors

September 18, 2023 | 8:36 pm

The Alabama Cannabis Coalition is urging Governor Kay Ivey to amend the state's medical marijuana laws to prevent a monopoly in the market. The state cannabis regulator is currently allowed to issue a limited number of licenses for cultivators, processors, dispensaries, and integrated facilities. The coalition's founder, Marty Schelper, proposed a solution to streamline the launch of medical cannabis operations. Meanwhile, lawsuits against the Alabama Medical Cannabis Commission (AMCC) are piling up, with the latest from Medella LLC, Alabama Always LLC, and Verano Holdings Corp.

Portfolio Pulse from Jelena Martinovic

September 15, 2023 | 5:38 pm

Florida's cannabis market is showing robust growth with a valuation of over $1.4 billion and a volume growth rate surpassing 30%. The potential for recreational legalization has driven stock prices upward. Planet 13 (OTC:PLNHF) plans to acquire VidaCann, a significant player in the state. Independent operators like Cansortium and Green Dragon are rising, while multi-state operators like Surterra, iAnthus, and Columbia Care (OTC:CCHWF) might consider divesting their Florida assets. Trulieve (OTC:TCNNF) remains the market leader, but Verano (OTC:VRNOF) and AYR (OTC:AYRWF) are experiencing significant growth.

Portfolio Pulse from Nicolás Jose Rodriguez

September 15, 2023 | 2:30 pm

The U.S. Department of Health and Human Services (HHS) has recommended the DEA to reclassify marijuana from Schedule I to Schedule III. The Congressional Research Service (CRS) report suggests the DEA may follow the HHS's recommendation. This could lead to federal tax benefits for marijuana businesses, legally sanction medical marijuana's manufacture, distribution, and possession, and expand rights for medical cannabis users. However, the final decision lies with Congress. Verano Holdings Corp. (OTCQX:VRNOF) CEO, George Archos, sees this as a positive moment for the cannabis industry.

Portfolio Pulse from Joana Scopel

September 14, 2023 | 9:08 pm

Maryland's cannabis market has seen a significant increase in sales since transitioning from medical to recreational use, with August sales reaching $91.7 million, up from $42.7 million in June. The top cannabis stores in the state are reportedly making $25-30 million each in sales. Maryland's regulator has issued 101 dispensary licenses and plans to release an additional 75. Publicly traded multi-state operators in the market include Ascend (OTC:AAWH), Curaleaf (OTC:CURLF), Green Thumb (OTC:GTBIF), TerrAscend (OTC:TSNDF), and Verano (OTC:VRNOF).

Portfolio Pulse from Nicolás Jose Rodriguez

September 13, 2023 | 9:52 pm

Alabama Medical Cannabis Commission (AMCC) is facing another lawsuit, this time from Medella LLC, a medical cannabis company applying for a license. The lawsuit alleges that AMCC's assessments of license candidates misleadingly suggested that one of Medella's owners or senior directors had a criminal background. This follows previous legal actions against the commission from Alabama Always LLC and Verano Holdings Corp. (OTCQX:VRNOF), both of which have been involved in legal disputes with the commission over its license allocation process.

Portfolio Pulse from Jelena Martinovic

September 13, 2023 | 4:30 pm

The U.S. cannabis sector has been under pressure with low volume and sentiment. However, the sector saw a significant development when the Department of Health and Human Services (HHS) recommended moving marijuana to a Schedule III designation, which would lower the effective tax rate for U.S. plant-touching companies from 70%+ to a normal rate. This could potentially lead to a 2-3x turn for U.S. cannabis plant-touching securities. The U.S. cannabis ETF (MSOS) has been under pressure, but the potential regulatory changes could have a positive impact.

Portfolio Pulse from Todd Harrison

September 10, 2023 | 9:58 pm

Alabama's cannabis regulators are set to meet with potential producers and distributors of medical marijuana to resolve ongoing litigation concerning the state's faulty license allocation process. The Alabama Medical Cannabis Commission (AMCC) has been sued multiple times by companies that either didn't receive a license or scrapped it following AMCC's two failed attempts to award them. Among the companies involved in the legal disputes are Alabama Always LLC and Verano Holdings Corp. (CSE:VRNO) (OTCQX:VRNOF).

Portfolio Pulse from Jelena Martinovic

September 08, 2023 | 3:07 pm

The Alabama Medical Cannabis Commission (AMCC) has acknowledged that its file size restrictions have caused issues for companies applying for medical cannabis licenses. The restrictions forced some companies to reduce the resolution of essential files, leading to a loss of critical details. However, AMCC allowed 17 applicants to submit their extensive attachments on USB drives. The AMCC has been sued by several companies, including Verano Holdings Corp., over its licensing process.

Portfolio Pulse from Jelena Martinovic

September 06, 2023 | 9:10 pm

The Department of Health and Human Services (HHS) has recommended the Drug Enforcement Administration (DEA) to reclassify cannabis from a Schedule I to a Schedule III substance. Verano Holdings Corp's CEO, George Archos, views this as a positive step for the cannabis industry. The potential rescheduling could revolutionize the industry, especially for social equity entrepreneurs.

Portfolio Pulse from Joana Scopel

September 05, 2023 | 7:08 pm

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