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Throughout this edition of Stock Analyzers, we will be discussing a cannabis stock otcmkts: acrgf (ACREAGE HOLDINGS, INC). A company who specializes in the cannabis industry since 2014. We will provide a company overview, market data, press releases, and final thoughts.
ACREAGE HOLDINGS, INC, ticker symbol (ACRHF) is a publicly-traded penny stock with potential. The company was known as High Street Capital Partners. It changed its name to Acreage Holdings, Inc, which is primarily involved as an investment firm specializing in the cannabis industry. The organization was formed in 2014 and is headquartered in New York.
otcmkts: acrgf is a multi-state operator of cannabis retailing and cultivation in the U.S. The company’s national brand is The Botanist, Tweed brand, and Prime medical brand. Its products are available nationally throughout the U.S. The company also owns Universal Hemp, LLC. A subsidiary dedicated to the distribution, marketing, and sales of CDB products in the U.S., ACREAGE, focuses on building and expanding its operations to create a consumer-focused and branded experience.
ACREAGE started in the cannabis industry back in 2011 and invested in a license in Maine. The company understood that the plant had the power to heal and change the world.
The company’s participation grew and evolved throughout the years, and otcmkts: acrgf became a multi-state operator.
The company was then in an excellent position to be a significant player in the cannabis industry. The political and commercial spectrum helped to legitimize cannabis with investors and regulators. The company then began to roll out its brands for this high market demand.
Even during the pandemic, ACREAGE’s future looks very promising. The company’s mission was to continue delivering its best products and consumer experience to its customers and patients. Acreage released its brands to even more markets, including the leading adult-use markets in Illinois and Massachusetts. The company continues to grow their company with the best teams to align its growth strategy for the future.
otcmkts: acrgf Brands
This is an incredible company that understands consumer needs and demands. They have aligned their brands to meet the growing demand of their consumers throughout the United States. Their brands include;
This brand allows people to come together to learn about the versatility and life-changing power of cannabis through its immersive educational hub.
The company’s retail locations ultimately set the standard for cannabis dispensaries nationwide. Their innovative products help consumers experience a holistic path to a fulfilling life.
Live Resin Project
The company’s vaping range is crafted using innovative extraction methods which utilize the whole cannabis plant. Its consumers will have a full-flavored experience from this premier brand.
This is a prime medical brand that focuses on advanced health and wellness, delivering a high-quality product designed for precise dosing and medicating. The team is highly experienced in cultivation and is creating the standard for the emerging industry.
Acreage holdings stock
Acreage is currently trading at 5.02 and has decreased by 4.15% at the time of this article. The company has no available PE Ratio at this time and has a volume of 48,429.
There is currently no earnings date for the company. We can see it is trading in a 52-week range of 3,000 – 9,000 with a market capitalization of 503,73M. Acreage does not offer a dividend yield at this time.
Here are some of the key questions investors and traders have concerning Acreage in the possible future and direction of the company;
Has canopy growth bought acreage holdings?
Canopy Growth did say that it was acquiring Acreage in April 2019, and the deal was valued at $3.4 Billion.
Acrgf is it a good buy?
The price target for the high is $12, and the low target is $4.30. The stock has one hold rating and two buy ratings, which make this company a buy.
What states have acreage holdings at present?
The company currently has one dispensary in Maryland and also in North Dakota. They have wholesale operations in Iowa and form operations in Oregon, California, and Washington.
How many dispensaries does otcmkts: acrgf have?
Acreage Holdings currently has 88 licenses.
Is canopy growth a buy Presently?
When you look at canopy growth, it is not presently in a buy zone, so it is not a buy right now. But investors who are eager to buy marijuana stocks could buy acrgf the next time it moves into the buy zone.
Acreage Holdings News
Numerous press releases have been gathered from reputable financial news platforms. The critical information has been focused on throughout the write-up, and if you would like to view the full press release, you can do so at this website.
otcmkts: acrgf Fourth Quarter And 2020 Results
Acreage Holdings has reported its financial results for the entire year-end December 2020
- Fourth Quarter Revenue is $31,5M and for the entire year $114.5M, which is an increase of 50% and 55% compared to the previous year.
- The same store sales growth was 27%. In eight consecutive quarters, the company has double-digit same store sales improvements.
- The gross margin is 46.1%, which is a 900-basis point increase compared to the previous year.
Peter Caldini, the CEO, commented That the company is pleased with the continued improvement in financial and operational figures for 2020. The company’s efforts to delivering profitability and generation long-term shareholder value are now realized. The company is eager to continue its strategies with an energized team. They are confident that the company will be a profitable leader in the cannabis industry.
otcmkts: acrgf – Sale Of Florida Operations
Acreage announced that its subsidiary High Street Capital Partners, LLC, has agreed with Red White and Bloom Brands, Inc.
The company will be purchased for all issued and outstanding shares of Acreage Florida Inc for $60,000,000. Acreage Florida is a licensed operator for medical marijuana dispensaries. It is involved in Processing and cultivation in Florida. The deal will also include, sale of the property in Sanderson, Florida.
Peter Caldini, the CEO, commented that the Florida project’s sale was an excellent step in their operating strategy. It will allow otcmkts: acrgf to focus on the core markets to accelerate their path to profitability and position the organization for sustainable growth and revenue generation. The sale will bolster the balance sheets and expand their cultivation projects. It plans to open additional dispensaries to support growth in adult-use cannabis states, including Illinois and New Jersey.
Last year, otcmkts: acrgf announced a core markets operating strategy throughout nine states in the Northeast, Midwest, and Mid-Atlantic. At present, the company has active operations and licenses throughout 13 states and will continue to pursue remaining non-core states.
otcmkts: acrgf expects to close the deal during the second quarter of 2021.
Acreage Management Change
otcmkts: acrgf announced that Glen Leibowitz would be leaving the company on April 2, 2021; he was a key member who pioneered Acreage as a leader in the developing cannabis industry.
Peter Caldini, the CEO, commented that the company would like to thank him for his ethic and professionalism in taking the company public. During his time at Acreage, he transformed the company into a leading MSO, reporting $115M in annual revenues in only three years.
Steve Goertz will now become the Chief Financial Officer to take his place. He brings more than 25 years of experience in finance, strategic planning, and capital markets.
Before Steve joined the company, he had already gained considerable experience in the cannabis industry. He spent 14 months working with Capital Acquisition Corp. This acquisition organization is primarily focused on the cannabis industry in the U.S and globally.
Peter Caldini, the CEO, commented that otcmkts: acrgf are delighted to have him on their team. Steve has extensive experience as a CFO, with expertise in transactions and extensive experience in the cannabis industry. This makes Steve the ideal candidate to implement the company’s growth strategy effectively.
Acreage Holdings, Inc is an emerging company in the markets and excellent position to be a significant player in the cannabis industry. Even during the pandemic, the company continues its expansion plans and delivering high-quality cannabis products to growing market demand.
The company focuses on its three brands currently in circulation throughout the U.S, focusing on adding more high-quality brands to their list. Acreage presently has 88 licenses throughout the U.S and plans to target non-core states in their future strategy.
The analyst rating right now is mixed, with some saying canopy growth is in a buy right now along with other cannabis stocks. Others are more cautious and tell investors to wait until otcmkts: acrgf goes into a buy zone along with other cannabis stocks. The comprehensive insights from analysts are favorable for growth and expansion within the cannabis industry.
When looking at Acreage results for 2020, you can see why the company is excited by the results, achieving Fourth Quarter Revenue of $31,5M. For the full year, $114.5M, which is an increase of 50% and 55% compared to their previous year. Also, there was a same store sales growth of 27%.
The company plans to move forward with a focused revenue generation plan and increased profit for shareholders to become a leader in the cannabis market. Suppose Acreage can keep on track with its strategic plan. In that case, they could expand and add further licensed states to its impressive portfolio, which would enable them to expand their dispensaries throughout the U.S.
We then learned about the purchase of all issued and outstanding shares of Acreage Florida Inc for the price of $60,000,000. This cash injection will position the company to accelerate its path into profitability and focus on its core markets. This could ultimately position the company into sustainable growth and revenues and help the company set up additional dispensaries in the adult-use markets. The company currently has licenses for 13 states with a focus on expanding into the non-core states.
If the company accomplishes its plans, it could be a global player in the cannabis industry and potentially dominate the U.S markets. We are aware that the cannabis industry is a high-demand sector and has been increasing steadily over the years. Investors are poised to buy cannabis stocks as soon as They enter the buy zone again.
There is no doubt that this is a sector to watch over the coming months, and it could potentially be explosive.
We then discovered a management change and welcomed Steve Goertz. Who became the Chief Financial Officer of otcmkts: acrgf, who has over 25 years experience in financial markets and over 14 years experience in the cannabis industry. We are sure that Steve will be a key player in taking the company forward. To execute its growth plans and future expansions into many more states in the U.S and potentially globally.
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