Image Source: Unsplash

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 since the beginning of March (MTD) and year-to-date (YTD), their likelihood of Financial Distress within the next 2 years (according to data from macroaxis.com), their average 12-month Price Targets, the extent of Short Interest and Insider Ownership (from SeekingAlpha.com).

1. Ascend (AAWH): UP 3.4% MTD; DOWN 6.9% YTD
   • 2 analysts:
     • have an average 12-month price target of $2.88
       • representing a 138% increase from the March 17th price of $1.21 and
     • have a consensus Moderate Buy rating.
     • In addition, AAWH has:
       • a 74% chance of Financial Distress within 2 years,
       • a 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
2. Verano (VRNOF): No Change MTD; DOWN 3.9% YTD
   • 13 analysts:
   • have an average 12-month price target of $12.50
     • representing a 322% increase from the March 17th price of $2.96 and
   • have a consensus Strong Buy rating.
   • In addition, VRNOF has:
     • a 64% chance of Financial Distress within 2 years,
     • a NIL Short Interest; and
     • only 2.1% Insider Ownership.
   • Read: Verano Q3 Financial Report Reveals Major Increase In Net Loss
     • Verano: A Top Cannabis Pick For 2023
3. Green Thumb (GTBIF): DOWN 1.8% MTD; DOWN 3.3% YTD 
   • 21 analysts:
   • have an average 12-month price target of $19.19
     • representing a 135% increase from the March 17th price of $8.15 and
   • have a consensus Strong Buy rating.
   • In addition, GTBIF has:
     • a 10% chance of Financial Distress within 2 years,
     • a NIL Short Interest; and
     • a 14.3% Insider Ownership.
   • Read: Green Thumb Reports Record Revenue And Adjusted Operating EBITDA
     • Green Thumb Industries: Best Of Breed In U.S. Cannabis
4. Cresco Labs (CRLBF): DOWN 3.5% MTD; DOWN 4.6% YTD 
   • 12 analysts:
   • have an average 12-month price target of $1.31
     • representing a 27% increase from the March 17th price of $1.67 and
   • have a consensus Buy rating.
   • In addition, CRLBF has:
     • a 76% chance of Financial Distress within 2 years,
     • a NIL Short Interest; and
     • a 22.1% Insider Ownership.
   •  Read: Cresco Labs Q3 Financials Show No Improvement Over Q2 Results
     • Cresco Labs: An Unloved U.S. Cannabis Multi-State Operator
5. TerrAscend (TRSSF): DOWN 4.5% MTD; UP 36.4% YTD 
   • 11 analysts:
   • have an average 12-month price target of $2.40
     • representing a 60% increase from the March 17th price of $1.50 and
   • have a consensus Buy rating.
   • In addition, TRSSF has:
     • a 64% chance of Financial Distress within 2 years,
     • a NIL Short Interest; and
     • only 6.6% Insider Ownership.
   • Read: TerrAscend Q3 Financial Report Reveals Major Declines In Income And EBITDA
     • TerrAscend Hopes The USA Can Provide A Future It Controls
6. Planet 13 (PLNHF): DOWN 4.5% MTD; UP 17.9% YTD 
   • 3 analysts:
   • have an average 12-month price target of $0.95
     • representing a 13% increase from the March 17th price of $0.84 and
   • have a consensus Buy rating.
   • In addition, PLNHF has:
     • a 46% chance of Financial Distress within 2 years,
     • a NIL Short Interest; and
     • 38.8% Insider Ownership.
   • Read: Planet 13 Financial Metrics In Q3 All Declined
     • Planet 13 Is Down But Not Out In The Cannabis Industry
7. Trulieve (TCNNF): DOWN 4.5% MTD; DOWN 18.8% YTD 
   • 19 analysts:
   • have an average 12-month price target of $18.33
     • representing a 198% increase from the March 17th price of $18.33 and
   • have a consensus Strong Buy rating.
   • In addition, TCNNF has:
     • a 69% chance of Financial Distress within 2 years,
     • a NIL Short Interest; and
     • 18.7% Insider Ownership.
   • Read: Trulieve Q4 Financials: Revenue Static; Net Loss Reduced By 33%
8. Acreage Holdings (ACRDF/ACRHF): DOWN 5.5% MTD; UP 14.2% YTD
   • 2 analysts:
   • have a consensus Hold rating.
   • In addition, Acreage has:
     • a 80% chance of Financial Distress within 2 years,
     • a NIL Short Interest; and
     • a 11.9% Insider Ownership.
   • Read: Acreage Reports Third Quarter 2022 Financial Results
     • Cresco Labs, Columbia Care M&A deal closure extended to June
9. Curaleaf (CURLF): DOWN 5.8% MTD; DOWN 13.0% YTD 
   • 20 analysts:
   • have an average 12-month price target of $9.63
     • representing a 183% increase from the March 17th price of $3.40 and
   • have a consensus Strong Buy rating.
   • In addition, CURLF has:
     • a 39% chance of Financial Distress within 2 years,
     • a NIL Short Interest; and
     • 38.9% Insider Ownership.
   • Read: Curaleaf Q3 Report Reveals 80% Decrease In Net Profit
     • Curaleaf: Former Leader In U.S. Cannabis Remains Buyable
10. Columbia Care (CCHWF): DOWN 6.6% MTD; DOWN 24.0% YTD 
    • 2 analysts:
    • have an average 12-month price target of $5.12
      • representing a 798% increase from the March 17th price of $0.57 and
    • have a consensus Strong Buy rating.
    • In addition, CCHWF has:
      • a 72% chance of Financial Distress within 2 years,
      • a NIL Short Interest; and
      • 17.9% Insider Ownership.
    • Read: Columbia Care Reports Third Quarter 2022 Results
      • ​​​​​​Cannabis Company Columbia Care Is A Bargain
11. Jushi (JUSHF): DOWN 10.9% MTD; DOWN 23.0% YTD
    • 4 analysts:
    • have an average 12-month price target of $3.14
      • representing a 451% increase from the March 17th price of $0.57 and
    • have a consensus Buy rating.
    • In addition, JUSHF has:
      • a 71% chance of Financial Distress within 2 years,
      • a 1.32% Short Interest; and
      • 8.9% Insider Ownership.
    • Read: Jushi Holdings Releases Mixed Preliminary Q3 Financials
      • Jushi Holdings: Still Trading At A Distressed Valuation
12. Ayr (AYRWF): DOWN 31.9% MTD; DOWN 36.4% YTD
    • 11 analysts:
    • have an average 12-month price target of $4.19
      • representing a 444% increase from the March 17th price of $0.77 and
    • have a consensus Strong Buy rating.
    • In addition, AYRWF has:
      • a NIL Short Interest; and
      • 8.0% Insider Ownership.
    • Read:  Ayr Wellness Q4 Financials: Operating Loss Increases; EBITDA Improves

In total, the sum total 12-month price target averages of the above 12 stocks represent a 173% increase from their average March 17th prices.

More By This Author:

Largest Canadian Cannabis LP Performances: An Update
Cannabis Category Performance Comparisons: An Update
An Update On The Performance Of The 7 Largest Psychedelic Stocks