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Cannabist Company Holdings ( (TSE:CBST) ) has provided an update.
The Cannabist Company has signed definitive agreements to sell all of its Ohio cannabis operations to Holistic Industries and its Delaware business and assets to Parma Holdco, while also entering a non-binding memorandum of understanding to divest most of its remaining production and retail operations in several other U.S. states. The company and a Canadian affiliate have commenced voluntary proceedings under Canada’s Companies’ Creditors Arrangement Act and plan related U.S. Chapter 15 recognition to complete these asset sales, preserve liquidity and orderly wind down operations in markets not covered by the transactions, backed by a support agreement from a majority of its senior secured noteholders following a strategic review of its financial and operational challenges.
The most recent analyst rating on (TSE:CBST) stock is a Hold with a C$0.55 price target. To see the full list of analyst forecasts on Cannabist Company Holdings stock, see the TSE:CBST Stock Forecast page.
Spark’s Take on CBST Stock
According to Spark, TipRanks’ AI Analyst, CBST is a Underperform.
Cannabist Company Holdings is facing severe financial difficulties, with declining revenues, high leverage, and negative equity. The technical analysis indicates an overbought condition without clear momentum, and the valuation reflects unprofitability. These factors contribute to a low overall stock score.
To see Spark’s full report on CBST stock, click here.
More about Cannabist Company Holdings
The Cannabist Company Holdings Inc. operates in the U.S. cannabis industry, focusing on the cultivation, production, manufacturing, distribution and retail sale of cannabis products. The company has historically maintained multi-state operations, with assets and licenses in markets such as Ohio, Delaware, Virginia, Illinois, New Jersey, Colorado, Massachusetts, Maryland, West Virginia, New York and Pennsylvania.
Technical Sentiment Signal: Sell
Current Market Cap: C$227.8M
For a thorough assessment of CBST stock, go to TipRanks’ Stock Analysis page.