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The latest announcement is out from Verano Holdings ( (TSE:VRNO) ).
Verano Holdings has been awarded a conditional license by the Texas Department of Public Safety to cultivate, process, and dispense medical cannabis in Texas, pending final state approval. This development marks a significant expansion for Verano into Texas, the second-largest state by size and population, as part of the state’s Compassionate Use Program. The move is expected to enhance Verano’s market presence and contribute to the growth of the legal cannabis industry in the U.S., providing health and wellness benefits to Texas patients and creating economic opportunities in the state.
The most recent analyst rating on (TSE:VRNO) stock is a Hold with a C$6.00 price target. To see the full list of analyst forecasts on Verano Holdings stock, see the TSE:VRNO Stock Forecast page.
Spark’s Take on TSE:VRNO Stock
According to Spark, TipRanks’ AI Analyst, TSE:VRNO is a Neutral.
Verano Holdings’ overall stock score is primarily impacted by its financial performance challenges, including declining revenues and profitability issues. The technical analysis suggests potential for a price correction due to overbought conditions. Valuation is poor with a negative P/E ratio and no dividend yield, further weighing down the score.
To see Spark’s full report on TSE:VRNO stock, click here.
More about Verano Holdings
Verano Holdings Corp. is a leading multi-state cannabis company in the U.S., known for its historical revenue, geographic scope, and brand performance. The company operates under the Zen Leaf and MÜV dispensary banners and offers a wide range of high-quality, regulated cannabis products through its diverse portfolio of trusted consumer brands. Verano’s operations span 13 states, with 15 production facilities and over 1.1 million square feet of cultivation capacity.
Technical Sentiment Signal: Sell
Current Market Cap: C$2.17B
For detailed information about VRNO stock, go to TipRanks’ Stock Analysis page.