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Cannabist Company Holdings ( (TSE:CBST) ) has provided an update.
The Cannabist Company has completed the sale of its Pennsylvania affiliate, which includes three medical dispensaries, to VP Investment Holdings, LLC. This transaction is part of the company’s strategic shift towards a wholesale cultivation strategy in Pennsylvania, enhancing its grow-processor facility in Saxton. The sale, valued at approximately $10 million, includes a supply agreement with VP Holdings, expanding The Cannabist Company’s wholesale distribution in the state. This move is expected to strengthen the company’s financial position, improve liquidity, and optimize its operations, positioning it to capitalize on current and future market opportunities.
The most recent analyst rating on (TSE:CBST) stock is a Hold with a C$0.10 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 TSE:CBST Stock
According to Spark, TipRanks’ AI Analyst, TSE:CBST is a Neutral.
Cannabist Company Holdings’ overall stock score is primarily impacted by its weak financial performance, characterized by declining revenues and high debt levels. While technical indicators show no clear trend, the company’s strategic initiatives and recent corporate events provide some positive outlook. However, ongoing profitability challenges and negative cash flow remain significant risks.
To see Spark’s full report on TSE:CBST stock, click here.
More about Cannabist Company Holdings
The Cannabist Company, formerly known as Columbia Care, is a leading cultivator, manufacturer, and provider of cannabis products and related services in the U.S., with licenses in 12 jurisdictions. The company operates 77 facilities, including 61 dispensaries and 16 cultivation and manufacturing sites. It offers a wide range of products such as flower, edibles, oils, and tablets under popular brands like Seed & Strain, Triple Seven, Hedy, gLeaf, Classix, Press, and Amber. The company serves both medical and adult-use markets, leveraging proprietary technology platforms through its national dispensary network, Cannabist.
Technical Sentiment Signal: Sell
Current Market Cap: C$227.8M
Find detailed analytics on CBST stock on TipRanks’ Stock Analysis page.