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The Alabama Cannabis Coalition is calling upon Governor Kay Ivey to convene a special session, aimed at amending the existing medical marijuana law to prevent the emergence of a monopoly in the market. To address this concern, the coalition presents a proposal that would streamline the initiation of medical cannabis operations. Under this plan, individuals who meet the necessary requirements, including residency and financial capabilities, would be eligible to obtain a license. By removing any limitations on the number of licenses issued, the coalition aims to avoid the current state of lawsuits and disputes surrounding the limited availability of licenses and the rightful recipients. Presently, the state cannabis regulator has the authority to grant 12 licenses for cultivators, four for processors, four for dispensaries, and five licenses for integrated facilities. However, the Alabama Medical Cannabis Commission (AMCC) finds itself entangled in ongoing litigation with various cannabis businesses such as Medella LLC, Alabama Always LLC, and a Chicago-based company.
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VRNOF Stock: Stable Performance and Challenges in Earnings Growth and Profitability
On September 15, 2023, VRNOF stock opened at $4.76 and fluctuated between $4.57 and $5.05 throughout the day. The trading volume for the day was 521,123 shares, higher than the average volume of 263,878 shares over the past three months. The market capitalization of VRNOF stood at $1.7 billion.
VRNOF has shown a significant decline in earnings growth over the past year, with a decrease of -1,651.55%. However, no specific information is available regarding earnings growth for the current year or the next five years.
In terms of revenue growth, VRNOF experienced a positive growth rate of 19.19% in the previous year. The price-to-sales ratio is 1.23, and the price-to-book ratio is 1.29.
Unfortunately, there is no available data on VRNOF’s competitors, making it difficult to assess the company’s performance relative to its industry peers. The next reporting date for VRNOF is scheduled for November 14, 2023.
Analysts forecast a loss of $0.02 per share for the current quarter. In the previous year, VRNOF reported an annual revenue of $879.4 million but incurred a net loss of $269.2 million. The net profit margin for the company was -30.61%.
Overall, VRNOF’s stock performance on September 15, 2023, was relatively stable, with a slight increase in the opening price. However, the company faces challenges in terms of its earnings growth and profitability. Investors will be closely watching the upcoming reporting date to gain more insights into VRNOF’s financial performance and future prospects.
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Verano Holdings Corp (VRNOF) Stock Forecast: Analysts Predict 98.20% Increase in Target Price
On September 15, 2023, Verano Holdings Corp (VRNOF) stock had a median target price of 9.56, according to 11 analysts offering 12-month price forecasts. The high estimate for the stock was 11.14, while the low estimate was 5.00. This median estimate represented a significant increase of 98.20% from the last recorded price of 4.82.
Verano Holdings Corp is a company that operates in the cannabis industry. The consensus among the 11 investment analysts polled was to buy stock in Verano Holdings Corp. This rating had remained unchanged since September, indicating a continued positive sentiment towards the company’s stock.
Unfortunately, specific details regarding the stock’s performance on September 15, 2023, were not provided. However, it is worth noting that Verano Holdings Corp reported a loss of $0.02 per share for the current quarter, with sales amounting to $238.7 million. The reporting date for these figures was set for November 14.
Investors should keep an eye on Verano Holdings Corp’s performance as the reporting date approaches. The company’s financial results for the current quarter could provide further insight into its trajectory and influence the stock’s performance.
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