Largest American Cannabis MSOs: Downward Slope Continues

This article presents the stock performance of each of the 12 largest American cannabis multi-state operators (MSOs) in the munKNEE American Cannabis MSOs Index this week and in the last 6 weeks in descending order, as follows:

TerrAscend (TRSSF):
- DOWN 6.6% this week and
- UP 24.0% since the end of January (6 weeks)
  - Has a 64% Chance of Financial Distress within 2 years;
- Average price target is $2.05, a 32.3% increase from the March 10th price of $1.55
  - The highest analyst price target is $2.20, the lowest forecast is $1.75
  - Consensus rating of Moderate Buy is based on 2 buy ratings, 1 hold rating and 0 sell ratings of 3 Wall Street analyst offering 12 month price targets for TerrAscend in the last 3 months Source
- Read:
  - TerrAscend Q3 Financial Report Reveals Major Declines In Income And EBITDA
  - TerrAscend Hopes The USA Can Provide A Future It Controls
Verano (VRNOF):
- UP 4.3% this week and
- UP 10.9% since the end of January (6 weeks)
  - Has a 64% Chance of Financial Distress within 2 years;
- Average analyst price target is $9.83, a 212.7% increase from the March 10th price of $3.16
  - The highest analyst price target is $16.17, the lowest forecast is $3.31
  - Consensus rating of Strong Hold is based on 3 buy ratings, 1 hold rating and 0 sell ratings of 4 Wall Street analyst offering 12 month price targets for Verano in the last 3 months. Source
- Read:
  - Verano Q3 Financial Report Reveals Major Increase In Net Loss
  - Verano: A Top Cannabis Pick For 2023
Green Thumb (GTBIF):
- DOWN 4.1% this week and
- UP 8.0% since the end of January (6 weeks)
  - Is the only MSO with a Positive Net Operating Cash Flow
  - Has a 10% Chance of Financial Distress within 2 years;
- Average analyst price target is $15.29, a 88.8% increase from the March 10th price of $8.10
  - The highest analyst price target is $23.52, the lowest forecast is $10.00
  - Consensus rating of Strong Buy is based on 6 buy ratings, 1 hold ratings and 0 sell ratings of 7 Wall Street analysts offering 12 month price targets for Green Thumb in the last 3 months Source
- Read:
  - Green Thumb Reports Record Revenue And Adjusted Operating EBITDA
  - Green Thumb Industries: Best Of Breed In U.S. Cannabis
Cresco Labs (CRLBF):
- UP 0.6% this week and
- UP 2.2% since the end of January (6 weeks)
  - Has a 76% Chance of Financial Distress within 2 years;
- Average analyst price target is $5.19, a +185.2% increase from the March 10th price of $1.82
  - The highest analyst price target is $4.00, the lowest forecast is $1.75
  - Consensus rating of Moderate Buy is based on 1 buy rating, 1 hold rating and 0 sell ratings of 2 Wall Street analyst offering 12 month price targets for Cresco Labs in the last 3 months Source
- Read:
  - Cresco Labs Q3 Financials Show No Improvement Over Q2 Results
  - Cresco Labs: An Unloved U.S. Cannabis Multi-State Operator
Curaleaf (CURLF):
- DOWN 3.9% this week and
- DOWN 1.6% since the end of January (6 weeks)
  - Has a 39% Chance of Financial Distress within 2 years;
- Average analyst price target is $7.42, a 100.5% increase from the March 10th price of $3.70
  - The highest analyst price target is $12.00, the lowest forecast is $5.00
  - Consensus rating of Strong Buy is based on 4 buy ratings, 0 hold ratings and 0 sell ratings of 4 Wall Street analysts offering 12 month price targets for Curaleaf in the last 3 months Source
- Read:
  - Curaleaf Q3 Report Reveals 80% Decrease In Net Profit
  - Curaleaf: Former Leader In U.S. Cannabis Remains Buyable
Planet 13 (PLNHF):
- No Change this week and
- DOWN 4.4% since the end of January (6 weeks)
  - Has a 46% Chance of Financial Distress within 2 years;
- Average analyst price target is $0.95, a 10.5% increase from the March 10th price of $3.85
  - The highest analyst price target is $0.95, the lowest forecast is $0.95
  - Consensus rating of Hold is based on 0 buy ratings, 1 hold rating and 0 sell ratings of 1 Wall Street analyst offering 12 month price targets for Planet 13 in the last 3 months Source
- Read:
  - Planet 13 Financial Metrics In Q3 All Declined
  - Planet 13 Is Down But Not Out In The Cannabis Industry
Jushi (JUSHF):
- DOWN 4.7% this week and
- DOWN 6.2% since the end of January (6 weeks)
  - Has a 71% Chance of Financial Distress within 2 years;
- Analyst forecasts not available
- Read:
  - Jushi Holdings Releases Mixed Preliminary Q3 Financials
  - Jushi Holdings: Still Trading At A Distressed Valuation
Trulieve (TCNNF):
- DOWN 4.0% this week and
- DOWN 6.9% since the end of January (6 weeks)
  - Has a 69% Chance of Financial Distress within 2 years;
- Average analyst price target is $14.25, a 136.3% increase from the March 10th price of $6.03
  - The highest analyst price target is $14.25, the lowest forecast is $14.25
  - Consensus rating of Moderate Buy is based on 1 buy rating, 0 hold ratings and 0 sell ratings of 1 Wall Street analyst offering 12 month price targets for Trulieve in the last 3 months Source
- Read:
  - Trulieve Q4 Financials: Revenue Static; Net Loss Reduced By 33%
Ascend (AAWH):
- DOWN 6.2% this week and
- DOWN 7.7% since the end of January (6 weeks)
  - Has a 74% Chance of Financial Distress within 2 years;
- Average analyst price target is $2.88, a +140.0% increase from the March 10th price of $1.20
  - - The highest analyst price target is $4.00, the lowest forecast is $1.75
    - Consensus rating of Moderate Buy is based on 1 buy rating, 1 hold rating and 0 sell ratings of 2 Wall Street analyst offering 12 month price targets for Ascend in the last 3 months Source
- Read:
  - Ascend Wellness Q3 Report: Record Revenue, Adjusted Gross Profit, And EBITDA Margin
  - Ascend Wellness: Thriving Without New York
Columbia Care (CCHWF):
- DOWN 1.6% this week and
- DOWN 17.8% since the end of January (6 weeks)
  - Has a 72% Chance of Financial Distress within 2 years;
- Average analyst price target is $1.15, a 91.7% increase from the March 10th price of $0.60
  - The highest analyst price target is $1.15, the lowest forecast is $1.15
  - Consensus rating of Hold is based on 0 buy ratings, 2 hold ratings and 0 sell ratings of 2 Wall Street analyst offering 12 month price targets for Columbia Care in the last 3 months Source
- Read:
  - Columbia Care Reports Third Quarter 2022 Results
  - Cannabis Company Columbia Care Is A Bargain
Acreage Holdings (ACRDF/ACRHF):
- DOWN 11% this week and
- DOWN 23.7% since the end of January (6 weeks)
  - Has a 80% Chance of Financial Distress within 2 years;
- Analyst forecasts not available
- Read:
  - Acreage Reports Third Quarter 2022 Financial Results
  - Cresco Labs, Columbia Care M&A deal closure extended to June
Ayr (AYRWF):
- DOWN 31.5% this week and
- DOWN 42.6% since the end of January (6 weeks)
  - Chance of Financial Distress within 2 years: N/A;
- Average analyst price target is $3.07, a 314.9% increase from the March 10th price of $0.74
  - The highest analyst price target is $4.75, the lowest forecast is $1.38
  - Consensus rating of Moderate Buy is based on 1 buy rating, 1 hold rating and 0 sell ratings of 2 Wall Street analyst offering 12 month price targets for Columbia Care in the last 3 months Source
- Read:
  - Ayr Wellness Q4 Financials: Operating Loss Increases; EBITDA Improves