MSOs

As the industry consolidates scooping up smaller players, Garden Greens stands out with a fashion-to-weed approach and street-smart pricing. In a market marked by mergers, acquisitions and growing consolidation, Garden Greens is not following the typical playbook. While large operators focus on the...

Cannabis stocks are trading higher today after former New Jersey Governor Chris Christie, suggested that President-elect Donald Trump will attempt to deschedule cannabis. "What I suspect he would really like to do is get it downgraded by the DEA so that it’s not illegal," Christie said in an...

As the U.S. cannabis industry expects significant regulatory changes, AdvisorShares, a leading provider of cannabis-focused Exchange-Traded Funds (ETFs), shared the company’s view regarding the near future. Managing over $1 billion in assets, the company's ETFs offer targeted exposure...

A recent analysis of 14 multi-state cannabis operators (MSOs) looks at how the potential removal of 280E in 2025 could impact their cash flows. Section 280E of the U.S. tax code, which prevents cannabis companies from deducting normal business expenses due to federal prohibition, has long been a...

Viridian Capital Advisors has released a report comparing the valuations of U.S. multi-state operators (MSOs) and Canadian licensed producers (LPs) with market caps over $100 million. The report reveals that Canadian LPs enjoy significantly higher valuations compared to their U.S. counterparts,...

Following the recent move on the part of the DEA toward  reclassifying cannabis from Schedule I to Schedule III, Zuanic & Associates hosted discussions with industry leaders to assess the impact and outline the next steps. The comprehensive review indicates there could be ...

In a recent episode of Benzinga's Cannabis Insider podcast, Cam Horan, managing partner of Highway 33 Capital Advisory shared an optimistic outlook for the cannabis industry, particularly highlighting the potential for substantial growth and recovery in 2024.  “We’re very excited about...

Cannabis ETFs are experiencing one of their most dynamic years yet, driven by significant regulatory shifts. The Department of Health and Human Services‘ recommendation to reclassify cannabis from a Schedule I to a Schedule III drug under the Controlled Substances Act marks a pivotal moment....

In 2023, cannabis stocks experienced a tumultuous journey, starkly contrasting the broader stock market’s robust performance. Investors juggled hopes for legalization with the hard realities of the industry’s present state. U.S. Market Struggles: Pricing Pressures, Competition, Risks...

In his latest note, senior analyst Pablo Zuanic from equity research firm Zuanic & Associates assesses the valuation of US Multi-State Operators (MSOs) in the cannabis sector. Apples-To-Apples: A Nuanced Comparison Zuanic emphasizes potential federal regulatory shifts, such as rescheduling and...

Is the cannabis industry losing steam or gaining momentum? According to a report by analyst Pablo Zuanic at research firm Z&A, a comprehensive analysis of sales trends across 17 states reveals a wide variance in the cannabis industry's performance. While seven states witnessed a sequential...

In a recent episode of Benzinga Cannabis Insider, Morgan Paxhia, co-founder and managing partner of Poseidon Investment Management dropped a bombshell that is sending shockwaves through the cannabis investment community. Paxhia, a prominent figure in the cannabis investment space, shared...

The chart shows analyst estimates of EBITDA margins for the second quarter vs. the first quarter and the 2nd quarter of 2022 for the fourteen largest MSOs for which we have consistent analyst projections. The blue bars show Q1 23 EBITDA margins; the red bars show Q2: 23 projected EBITDA...

In honor of Independence Day, the Viridian Capital Chart of the Week explores the impact of IRS Rule 280e, the most egregious tax leveled on any American industry, posing an existential threat to even some of the largest MSOs. We collected consensus estimates of 2023 cash flow from operations and...

The graph depicts consensus analyst expectations for the ten largest MSOs that have consistent 2023 and 2024 estimates, including Curaleaf (OTC: CURLF), Green Thumb (OTC: GTBIF), Verano (OTC: VRNOF), Trulieve (OTC: TRUL), Cresco (OTC: CRLBF), TerrAsced (OTC: TRSSF), Columbia (OTC: CCHWF), Ascend (...