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

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

The article discusses key trends in the cannabis market across various states ahead of the second quarter earnings season. It highlights the performance of major players like Trulieve, Verano, Curaleaf, Green Thumb, Cresco, Ascend, and Columbia Care in states such as Florida, Illinois, Pennsylvania, Arizona, Maryland, New Jersey, Ohio, and Michigan. Federal reform expectations, IRS news on 280E, refinancing potential, and M&A strategies are identified as main drivers of sentiment.

Portfolio Pulse from Nicolás Jose Rodriguez

August 07, 2024 | 1:46 am

Cannabis stocks surged following the start of recreational cannabis sales in Ohio and strong earnings reports from key industry players. The AdvisorShares Pure Cannabis ETF (NYSE:YOLO) rose by 8%, while Green Thumb Industries (OTC:GTBIF) and Trulieve Cannabis (OTC:TCNNF) saw significant gains. Other multi-state operators like Verano Holdings (OTC:VRNOF), Curaleaf Holdings (OTC:CURLF), Cresco Labs (OTC:CRLBF), and Ascend Wellness Holdings (OTC:AAWH) are also set to benefit from Ohio's new regulatory environment.

Portfolio Pulse from Patricio Liddle

August 06, 2024 | 10:49 pm

Ohio will begin recreational cannabis sales on Tuesday, Aug. 6, with nearly 100 medical marijuana dispensaries receiving licenses to sell to adults over 21. Major multi-state operators like Verano Holdings, Trulieve, Curaleaf, and Green Thumb Industries are among those opening dispensaries in the state.

Portfolio Pulse from Maureen Meehan

August 05, 2024 | 8:44 pm

New York's cannabis market is expanding as officials crack down on illegal sales, boosting the legal market. Curaleaf and Green Thumb Industries are opening new dispensaries in New York. Other states and Canada are also seeing new cannabis store openings by companies like Verano Holdings, Trulieve Cannabis, and High Tide.

Portfolio Pulse from Jelena Martinovic

August 04, 2024 | 2:46 pm

A recent report by Pablo Zuanic of Zuanic & Associates analyzes the debt maturities of over 20 multi-state operators (MSOs) in the U.S. cannabis industry. Ascend Wellness Holdings (OTC:AAWH) refinanced $200 million in debt, issuing $235 million in 5-year Senior Secured Notes at a 12.75% coupon rate. Other MSOs with significant debt include Schwazze (OTC:SHWZ), The Cannabist (OTC:CCHW), 4Front Ventures (OTC:FFNTF), Gold Flora (OTC:GRAMF), and Jushi Holdings (OTC:JUSHF). The report also highlights high income tax debt and leverage ratios for several companies, including StateHouse (OTC:STHZ) and Verano (OTC:VRNOF).

Portfolio Pulse from Nicolás Jose Rodriguez

August 02, 2024 | 3:17 pm

More than a year after Maryland legalized recreational cannabis, the state's illicit market remains active despite the commercial success of licensed dispensaries. Maryland's low tax rate and strategic timing have helped legal sales soar, but competition from unlicensed hemp retailers and persistent illegal sales pose challenges.

Portfolio Pulse from Juan Spínelli

July 30, 2024 | 4:45 pm

Verano Holdings Corp. (OTCQX:VRNOF) announced a $105 million deal to acquire significant assets from The Cannabist Company Holdings Inc. (Cboe CA: CBST) (OTC:CBSTF) (FSE: 3LP), including operations in Virginia and Arizona. This acquisition will expand Verano's footprint to 14 states with 15 cultivation sites and 150 dispensaries.

Portfolio Pulse from Patricio Liddle

July 29, 2024 | 10:53 pm

The cannabis industry is seeing consolidation, with cannabis concentrates emerging as a key growth area. Brands like Ozone (OTC: AAWH) and The Essence (OTC: VRNOF) are performing well in multiple states, making them attractive acquisition targets.

Portfolio Pulse from Nicolás Jose Rodriguez

July 17, 2024 | 10:56 pm

Canadian cannabis companies outperformed their American counterparts last week, with significant gains in stock prices for companies like Aurora Cannabis, Tilray Brands, Cronos Group, Organigram, and Canopy Growth. In contrast, American multi-state operators showed more modest gains. The U.S. cannabis market presents a significant risk-reward opportunity, particularly for MSOs, despite regulatory challenges.

Portfolio Pulse from Rolando García

July 16, 2024 | 10:25 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.