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

Arizona's cannabis market is experiencing a decline in sales despite strong asset valuations. Sales have dropped significantly from their peak in March 2023, with both adult-use and medical marijuana sectors affected. Increased competition and falling prices due to market saturation are contributing factors. Vext Science Inc. reported a steep decline in dispensary net sales, while Verano Holdings Corp. acquired three Arizona subsidiaries, indicating continued interest in the market.

Portfolio Pulse from Juan Spínelli

August 23, 2024 | 2:56 am

Verano Holdings Corp. completed a $105M acquisition of three subsidiaries from The Cannabist Company, expanding its operations in Arizona and Virginia. This strategic move enhances Verano's national footprint and positions it for potential adult-use cannabis markets. Verano's shares fell 1%, while Cannabist's shares rose 2.24%.

Portfolio Pulse from Nina Zdinjak

August 22, 2024 | 2:10 pm

The cannabis market is facing volatility, with ETFs like AdvisorShares Pure US Cannabis ETF (MSOS) and its leveraged counterpart MSOX experiencing challenges due to regulatory uncertainty and underperforming stocks. However, potential regulatory reforms, such as cannabis rescheduling, offer hope for recovery.

Portfolio Pulse from Javier Hasse

August 22, 2024 | 1:00 pm

Ohio's marijuana market has seen a significant surge in sales since the legalization of recreational cannabis on August 6, 2023. In the first 12 days, sales reached $38.5 million, with a notable increase in daily sales averages. Multi-state operators like Verano Holdings, Trulieve Cannabis, Curaleaf Holdings, Acreage Holdings, and Green Thumb Industries are benefiting from this growth.

Portfolio Pulse from Maureen Meehan

August 21, 2024 | 6:31 pm

California's cannabis industry faces significant challenges as small-scale farmers abandon cultivation due to wildfires, low prices, and lack of federal aid. Companies like NewLake Capital Partners, Verano Holdings, and Lowell Farms are impacted by these market dynamics.

Portfolio Pulse from Patricio Liddle

August 19, 2024 | 5:07 pm

Pablo Zuanic of Zuanic & Associates analyzed the Q2 2024 performance of Verano Holdings, Green Thumb Industries, and MariMed Inc. Verano saw a 6% revenue increase due to strategic acquisitions, Green Thumb's revenue grew 10% with strong free cash flow, and MariMed reported a 4% revenue increase with a focus on organic growth.

Portfolio Pulse from Nicolás Jose Rodriguez

August 16, 2024 | 10:30 pm

Mike Tyson's cannabis brand, TYSON 2.0, is expanding into Florida and Illinois through a partnership with Verano Holdings Corp. (CSE:VRNO, OTCQX:VRNOF). The deal will leverage Verano's cultivation facilities and dispensaries to distribute TYSON 2.0 products, including Mike Bites edibles and vape cartridges. This expansion aims to enhance TYSON 2.0's market presence in these states.

Portfolio Pulse from Jelena Martinovic

August 16, 2024 | 5:06 pm

Ohio's adult-use cannabis market generated $11.5 million in its first week, with major players like Ascend Wellness Holdings Inc (OTC:AAWH) and Verano Holdings Corp. (OTC:VRNOF) reporting significant sales increases. The state is projected to reach nearly $1.3 billion in annual revenue from combined medical and adult-use sales.

Portfolio Pulse from Franca Quarneti

August 16, 2024 | 12:09 am

U.S. multi-state operators (MSOs) in the cannabis industry are showing improved cost efficiency in Q2 2024, with six out of the top eight MSOs reducing their cost of goods sold (COGS) as a percentage of revenue. Companies like Green Thumb Industries, Curaleaf, Trulieve, Verano, Cresco Labs, and Ascend Wellness have managed to lower their COGS and selling, general, and administrative (SG&A) expenses, indicating better operational efficiency. However, AYR and TerrAscend faced increased COGS, highlighting operational challenges.

Portfolio Pulse from Rolando García

August 12, 2024 | 11:35 pm

Verano Holdings reported Q2 2024 revenue of $222M, a 0.5% sequential increase but a 5% YoY decline. The net loss widened to $22M. The company announced the acquisition of significant assets from The Cannabist Company, including a Virginia license. Verano is also launching adult use sales in Ohio and sees positive trends in Florida and Pennsylvania. The company authorized a $50M share repurchase program.

Portfolio Pulse from Nina Zdinjak

August 07, 2024 | 12:14 pm

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