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VRNOF Stock Likely to Gain From Its Newly Opened Dispensary in Phoenix
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Verano Holdings Corp. (VRNOF - Free Report) announced the opening of Zen Leaf Arcadia in Phoenix, AZ, today. Representatives of the Greater Phoenix Chamber of Commerce will be present at the ribbon-cutting ceremony. Zen Leaf Arcadia is located at 2710 E Indian School Road and will be open daily from 8 a.m. to 10 p.m. local time.
The company opened its latest arcadia in a prime location to help the guests enjoy its new dispensary features and conveniences while browsing other extensive selections of award-winning products.
VRNOF’s Likely Stock Trend Following the News
Following the news, shares of VRNOF moved north 0.3% to $3.36 yesterday. The company is gaining from its continued efforts to expand its retail footprint worldwide by opening dispensaries across several locations. We expect the newly opened dispensary to motivate market sentiment in the coming days.
Meanwhile, VRNOF currently has a market capitalization of $1.16 billion. The company has a trailing four-quarter average earnings surprise of 11.88%. VRNOF has an expected 2025 EPS growth rate of 25%, much higher than the industry’s 22.2% (anticipated).
About Verano’s Latest Zen Leaf Arcadia
Zen Leaf Arcadia will offer an array of enhanced features and conveniences for cannabis consumers, including additional point-of-sale stations, increased parking and an original cannabis-inspired mural. The cannabis-inspired mural is painted by Verano's in-house artist, Jeremiah Kaniaupio. Guests visiting Zen Leaf Arcadia throughout the grand opening weekend celebration will be greeted by food trucks, DJs and an array of exciting doorbuster deals, including BOGOs and mix-n-matches. The guests will also get up to 50% off on select BITS, Savvy, Hi-Klas, Vital, Verano and (the) Essence items.
Verano’s Business Advancements
The inauguration of Zen Leaf Arcadia is followed by Verano’s recent acquisition of Arizona and Virginia operations from The Cannabist Company. The acquisition expanded Vareno’s Arizona operational footprint to eight retail locations. The company uses its 90,000 square feet of state-of-the-art cultivation and processing operations to produce its portfolio of award-winning brands.
Verano's active operations are spread across 14 states, including 152 dispensaries and 15 cultivation and processing facilities with more than 1.1 million square feet of cultivation capacity.
Recent Development by Verano
Earlier this month, Verano opened MÜV Melbourne and MÜV Okeechobee dispensaries. MÜV Melbourne is the company’s second MÜV location in Melbourne. MÜV Okeechobee broadens VRNOF’s retail presence in Okeechobee County. The latest open at Melbourne and Okeechobee raised the company’s retail footprint to 79 dispensaries in Florida and 152 retail locations nationwide.
Image Source: Zacks Investment Research
Industry Prospects Favor Verano
Per a SkyQuest report, the global medical cannabis market was valued at $4.50 billion in 2022 and is poised to grow $90.07 billion by 2031, at a CAGR of 22.5% during the period. The shift toward natural and holistic remedies has driven the demand for medical cannabis products. Countries like Canada and certain states in the United States have established legal frameworks for medical cannabis use, leading to a surge in market growth.
VRNOF Stock’s Price Performance
Year to date, shares of QGEN have declined 25% against the industry’s 12.7% growth.
Estimates for TransMedics’ 2024 earnings per share (EPS) have moved up 2.5% to $1.23 in the past 30 days. Shares of the company have soared 156.5% in the past year compared with the industry’s 17.5% growth. TMDX’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 287.50%. In the last reported quarter, it delivered an earnings surprise of 66.67%.
Estimates for AxoGen’s 2024 loss per share have remained constant at 1 cent in the past 30 days. Shares of the company have surged 165.9% in the past year compared with the industry’s 17.6% growth. AXGN’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 96.5%. In the last reported quarter, it delivered an earnings surprise of 200%.
Estimates for OrthoPediatrics’ 2024 loss per share have declined to 92 cents from 96 cents in the past 30 days. In the past year, shares of KIDS have lost 17.1% against the industry’s 20.8% growth. In the last reported quarter, it delivered an earnings surprise of 25.81%. Its earnings surpassed estimates in each of the trailing four quarters, the average surprise being 26.81%.
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VRNOF Stock Likely to Gain From Its Newly Opened Dispensary in Phoenix
Verano Holdings Corp. (VRNOF - Free Report) announced the opening of Zen Leaf Arcadia in Phoenix, AZ, today. Representatives of the Greater Phoenix Chamber of Commerce will be present at the ribbon-cutting ceremony. Zen Leaf Arcadia is located at 2710 E Indian School Road and will be open daily from 8 a.m. to 10 p.m. local time.
The company opened its latest arcadia in a prime location to help the guests enjoy its new dispensary features and conveniences while browsing other extensive selections of award-winning products.
VRNOF’s Likely Stock Trend Following the News
Following the news, shares of VRNOF moved north 0.3% to $3.36 yesterday. The company is gaining from its continued efforts to expand its retail footprint worldwide by opening dispensaries across several locations. We expect the newly opened dispensary to motivate market sentiment in the coming days.
Meanwhile, VRNOF currently has a market capitalization of $1.16 billion. The company has a trailing four-quarter average earnings surprise of 11.88%. VRNOF has an expected 2025 EPS growth rate of 25%, much higher than the industry’s 22.2% (anticipated).
About Verano’s Latest Zen Leaf Arcadia
Zen Leaf Arcadia will offer an array of enhanced features and conveniences for cannabis consumers, including additional point-of-sale stations, increased parking and an original cannabis-inspired mural. The cannabis-inspired mural is painted by Verano's in-house artist, Jeremiah Kaniaupio. Guests visiting Zen Leaf Arcadia throughout the grand opening weekend celebration will be greeted by food trucks, DJs and an array of exciting doorbuster deals, including BOGOs and mix-n-matches. The guests will also get up to 50% off on select BITS, Savvy, Hi-Klas, Vital, Verano and (the) Essence items.
Verano’s Business Advancements
The inauguration of Zen Leaf Arcadia is followed by Verano’s recent acquisition of Arizona and Virginia operations from The Cannabist Company. The acquisition expanded Vareno’s Arizona operational footprint to eight retail locations. The company uses its 90,000 square feet of state-of-the-art cultivation and processing operations to produce its portfolio of award-winning brands.
Verano's active operations are spread across 14 states, including 152 dispensaries and 15 cultivation and processing facilities with more than 1.1 million square feet of cultivation capacity.
Recent Development by Verano
Earlier this month, Verano opened MÜV Melbourne and MÜV Okeechobee dispensaries. MÜV Melbourne is the company’s second MÜV location in Melbourne. MÜV Okeechobee broadens VRNOF’s retail presence in Okeechobee County. The latest open at Melbourne and Okeechobee raised the company’s retail footprint to 79 dispensaries in Florida and 152 retail locations nationwide.
Image Source: Zacks Investment Research
Industry Prospects Favor Verano
Per a SkyQuest report, the global medical cannabis market was valued at $4.50 billion in 2022 and is poised to grow $90.07 billion by 2031, at a CAGR of 22.5% during the period. The shift toward natural and holistic remedies has driven the demand for medical cannabis products. Countries like Canada and certain states in the United States have established legal frameworks for medical cannabis use, leading to a surge in market growth.
VRNOF Stock’s Price Performance
Year to date, shares of QGEN have declined 25% against the industry’s 12.7% growth.
VRNOF’s Zacks Rank and Key Picks
Verano currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are TransMedics Group (TMDX - Free Report) , AxoGen (AXGN - Free Report) and OrthoPediatrics (KIDS - Free Report) . While TransMedics sports a Zacks Rank #1 (Strong Buy) at present, AxoGen and OrthoPediatrics carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Estimates for TransMedics’ 2024 earnings per share (EPS) have moved up 2.5% to $1.23 in the past 30 days. Shares of the company have soared 156.5% in the past year compared with the industry’s 17.5% growth. TMDX’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 287.50%. In the last reported quarter, it delivered an earnings surprise of 66.67%.
Estimates for AxoGen’s 2024 loss per share have remained constant at 1 cent in the past 30 days. Shares of the company have surged 165.9% in the past year compared with the industry’s 17.6% growth. AXGN’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 96.5%. In the last reported quarter, it delivered an earnings surprise of 200%.
Estimates for OrthoPediatrics’ 2024 loss per share have declined to 92 cents from 96 cents in the past 30 days. In the past year, shares of KIDS have lost 17.1% against the industry’s 20.8% growth. In the last reported quarter, it delivered an earnings surprise of 25.81%. Its earnings surpassed estimates in each of the trailing four quarters, the average surprise being 26.81%.