A new public cannabis stock is on its way to the top

139 0

Verano Holdings is commanding attention from investors at all levels

While it is true that the big-league competitors in the marijuana industry are the ones who stand to make big profits once federal legalization takes place, these stocks have already generated significant returns. It is not so ideal for investors looking for the next big investment in the sector. That’s why considering other lesser-known options at the end of the day is not such a far-fetched strategy. Verano Holdings, for example, is one stock in particular that every investor should take a close look at.

This vertically integrated marijuana producer based in Chicago, IL, sells a wide range of premium cannabis products under multiple brands. Verano is present in a total of 14 states and has cultivation space in excess of 830,000 square feet, not to mention the fact that it is the operator of more than 80 retail stores. Although during this time, this action has been kept in the shadows, the truth is that it has been generating results that are beyond impressive. In fact, its top line is already beginning to rub shoulders with that of some large multi-state operators (MSOs).

Verano currently has a market capitalization of $1.4 billion. While that may not seem like enough compared to other companies in the industry, it may not be long before it gets bigger. Exactly one month ago, Verano released its second-quarter results for the period ending June 30. Its sales came in at nearly $200 million, representing a 34% improvement over the first quarter and, year over year, revenue was up more than 164%.

There is no doubt that, for a company that went public at the beginning of the year, this is an impressive report, especially since it did not want to stand idly by and watch its most notable rivals continue to grow.