Cannabis MSOs Continue To Plummet: Down 7% This Week

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The 12 largest multi-state operators (MSOs), as tracked in the munKNEE American Cannabis MSOs Index, are ranked below, in descending order, as to:

  • their stock performances week-ending March 25th, 2023 with
  • their likelihood of Financial Distress within the next 2 years (according to data from macroaxis.com), and
  • their average 12-month Price Targets (from SeekingAlpha.com),
  • their extent of Short Interest (from SeekingAlpha.com), and
  • their Insider Ownership (from SeekingAlpha.com).

Declines of Less Than 5%:

  1. Verano (VRNOF): 
  2. TerrAscend (TRSSF):  
  3. Green Thumb (GTBIF):  

Declines Between 5% and 10%

  1. Trulieve (TCNNF):
    • 19 analysts:
    • have an average 12-month price target of $18.33
      • representing a 220% increase from the March 24th price of $5.73 and
    • have a consensus Strong Buy rating.
    • In addition, TCNNF has:
      • 69% chance of Financial Distress within 2 years,
      • NIL Short Interest; and
      • 18.7% Insider Ownership.
    • Read: Trulieve Q4 Financials: Revenue Static; Net Loss Reduced By 33%
  2. Planet 13 (PLNHF):  
  3. Cresco Labs (CRLBF):  

Declines Between 10% and 15%

  1. Columbia Care (CCHWF):  
  2. Jushi (JUSHF): 
  3. Ascend (AAWH): 
    • 2 analysts:
      • have an average 12-month price target of $2.88
        • representing a 172% increase from the March 24th price of $1.06 and
      • have a consensus Moderate Buy rating.
      • In addition, AAWH has:
        • 74% chance of Financial Distress within 2 years,
        • NIL Short Interest (the number of shorted shares divided by the number of shares outstanding); and
        • only 5.5% Insider Ownership (directors and senior officers or other beneficial holders with 10% or more of the common shares).
      • Read: Ascend Wellness Q3 Report: Record Revenue, Adjusted Gross Profit, And EBITDA Margin
  4. Curaleaf (CURLF):  
  5. Ayr (AYRWF): 
  6. Acreage (ACRDF/ACRHF): 

In total, the sum total 12-month price target averages of the above 12 stocks represent a 223% increase from their average March 24th prices.


More By This Author:

Cannabis Category Performances Ranged From +8.6% To -7.0% This Week
An Aggressive ETF Portfolio For 2023: An Update
Largest American Cannabis MSO Performances: An Update

Disclosure: None

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