I see an exciting investment opportunity that everyone needs to know about. One of the largest, privately owned cannabis companies in the U.S. just began trading on the Canadian Stock Exchange. This is a great opportunity to make an early investment in an industry and company in the early stages of a long-term growth trend.
Verano Holdings (CSE: VRNO) is one of the largest privately-owned cannabis companies in the U.S. Headquartered in Chicago, Illinois, Verano operates in 14 U.S. states, owns and operates 46 dispensaries and eight cultivation facilities. This portfolio of cannabis businesses is generating impressive results. Verano recently said that it expects to generate as much as $380 million in revenue in fiscal 2020.
I did a full report on Verano last week for Cannabis Stock Trades. Click the link if you would like to take a look.
There are a few reasons why I am optimistic on the Verano IPO.
- Verano is a direct play on the high-growth U.S. cannabis industry.
- Verano is an early industry leader in the U.S.
- The IPO is a chance to invest early.
- Many other cannabis stocks are up sharply in the last nine months.
- Shares have not popped higher yet.
Shares began trading on the Canadian Stock Exchange on Thursday under the ticker symbol VRNO. Verano spent most of the two days trading between $28 and $30 before closing the week at $31. For the time being shares are just chilling right here – I don’t expect that to last. Take a look at the 2-day chart below.
Looking forward I will be looking to add shares to clients that are looking to increase their allocation to cannabis stocks.
In the meantime, if anyone else is interested in adding shares to their account call me or send me an email.
Have a great weekend!
Author Michael Vodicka owns shares of Verano Holdings (VRNO).