Short interest for PGIM Global High Yield gives investors a sense of the degree to which investors are betting on the decline of PGIM Global High Yield's stock. Short interest data is updated every two weeks.

PGIM Global High Yield Stock (NYSE:GHY), Short Interest Report

PGIM Global High Yield

PGIM Global High Yield Fund, Inc is a diversified, closed-end management investment company. The fund's investment objective is to provide a high level of current income. The fund seeks to provide a high level of current income by investing in higher-rated, below-investment-grade fixed income instruments of issuers located around the world, including emerging markets.

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The weekend is almost here and so are we to give you the entertainment fix you need. From romance to crime and animated movies for kids, we have the best scoop of entertainment for you so you can binge-watch this weekend.
In this list, we've curated this list of the best movies on Disney+ and Hulu. Some of these movies are all set to leave these services, so make sure you catch up on them while they're here.
<h3 class="wp-block-heading">Let It Be</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103118/Let-It-Be-1024x576.jpg" alt="" class="wp-image-332742" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103118/Let-It-Be-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103118/Let-It-Be-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103118/Let-It-Be-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103118/Let-It-Be.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Let It Be &#x7C; Image credit: Disney+</figcaption></figure>
Love The Beatles? You'll like this documentary behind the scenes of the iconic rock band on its final concert. Let It Be is a restored version of Michael Lindsay-Hogg's documentary from the 1970s.
Perfect watch if you're one for a nostalgia hit.
Where To Watch: Disney+
<h3 class="wp-block-heading">Fantastic Mr. Fox</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103141/Fantastic-Mr.-Fox-1024x576.jpeg" alt="" class="wp-image-332744" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103141/Fantastic-Mr.-Fox-1024x576.jpeg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103141/Fantastic-Mr.-Fox-300x169.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103141/Fantastic-Mr.-Fox-768x432.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103141/Fantastic-Mr.-Fox.jpeg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Fantastic Mr. Fox &#x7C; Image credit: Disney+</figcaption></figure>
Fantastic Mr. Fox is a great stop-motion animated movie involving a series of farm thefts. Based on Roald Dahl's book of the same name, Fantastic Mr. Fox packs a lot of fun that people of all ages will enjoy.
Where To Watch: Disney+
<h3 class="wp-block-heading">Daredevil</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103206/Daredevil-1024x576.jpg" alt="" class="wp-image-332746" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103206/Daredevil-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103206/Daredevil-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103206/Daredevil-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103206/Daredevil.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Daredevil &#x7C; Image credit: Disney+</figcaption></figure>
Starring Ben Affleck, this is the original Daredevil before the series came along. Affleck is a blind lawyer by the day and a vigilante by night, fighting injustice and taking down villains.
Where To Watch: Disney+
<h3 class="wp-block-heading">The Big Lebowski</h3>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="952" height="536" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103228/The-Big-Lebowski.jpg" alt="" class="wp-image-332747" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103228/The-Big-Lebowski.jpg 952w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103228/The-Big-Lebowski-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103228/The-Big-Lebowski-768x432.jpg 768w" sizes="(max-width: 952px) 100vw, 952px" /><figcaption class="wp-element-caption">The Big Lebowski &#x7C; Image credit: Hulu</figcaption></figure>
The Big Lebowski is a great mix of crime and comedy, perfectly suited for a weekend watch. The movie involves a bowler with the same name as a millionaire, beaten by thugs and forced to pay a debt he has no idea about.
Where To Watch: Hulu
<h3 class="wp-block-heading">L.A. Confidential</h3>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="952" height="536" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103248/L.A.-Confidential.jpg" alt="" class="wp-image-332751" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103248/L.A.-Confidential.jpg 952w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103248/L.A.-Confidential-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103248/L.A.-Confidential-768x432.jpg 768w" sizes="(max-width: 952px) 100vw, 952px" /><figcaption class="wp-element-caption">L.A. Confidential &#x7C; Image credit: Hulu</figcaption></figure>
L.A. Confidential is an iconic, Oscar-winning crime movie. Set in the 1950s, this movie stars Russel Crowe, Danny DeVito, and Guy Pearce who set out to solve a murder mystery.
Where To Watch: Hulu
<h3 class="wp-block-heading">Ocean's Eleven</h3>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="952" height="536" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103259/Oceans-Eleven.jpg" alt="" class="wp-image-332754" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103259/Oceans-Eleven.jpg 952w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103259/Oceans-Eleven-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10103259/Oceans-Eleven-768x432.jpg 768w" sizes="(max-width: 952px) 100vw, 952px" /><figcaption class="wp-element-caption">Ocean's Eleven &#x7C; Image credit: Hulu</figcaption></figure>
Ocean's Eleven, starring Brad Pitt, George Clooney, and Julia Roberts, is another comedy movie that involves a team of 11 who come together to pull off a heist at a casino.
Where To Watch: Hulu
Photo courtesy: Shutterstock

Entertainment

Kick Back And Relax: Here Are The Best Picks For Hulu And Disney+ To Watch This Weekend

A number of Americans are considering a move abroad, drawn by the promise of new experiences and escapes from economic pressures at home. Motivated by the thrill of adventure, better job prospects, and a desire for a safer lifestyle, one-third of U.S.-born nationals are exploring life beyond U.S. borders and not just for a vacation, but for longer stay.
If you&#8217;re in the same boat and wondering about the easiest countries to move to for tax and visa reasons, we&#8217;ve got you covered. Here are five countries that welcome Americans without a visa and are also tax-friendly.
<h3 class="wp-block-heading">1. Canada</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="601" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10073602/jason-hafso-C2keINMOhIE-unsplash-1024x601.jpg" alt="Americans can enjoy up to 180 days in Canada without jumping through extra hoops. Image: Unsplash/ Jason Hafso" class="wp-image-332266" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10073602/jason-hafso-C2keINMOhIE-unsplash-1024x601.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10073602/jason-hafso-C2keINMOhIE-unsplash-300x176.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10073602/jason-hafso-C2keINMOhIE-unsplash-768x451.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10073602/jason-hafso-C2keINMOhIE-unsplash-1536x902.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10073602/jason-hafso-C2keINMOhIE-unsplash.jpg 1840w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Americans can enjoy up to 180 days in Canada without jumping through extra hoops. Image: Unsplash/ Jason Hafso</figcaption></figure>
Topping the list is Canada, a stunning country with plenty of job opportunities, friendly people, and a booming economy. Americans can live in Canada for up to 180 days without a visa and take advantage of its strong $2.2 trillion economy, the ninth largest in the world. From web development to fast-food industry jobs, there&#8217;s no shortage of work opportunities. Apart from that, Canada stands out for its diverse multiculturalism policies, stable economy, and low crime rates.
<h3 class="wp-block-heading">2. United Kingdom</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10074606/usa-approved-visa-united-kingdom-1024x576.jpg" alt="Across the pond, the United Kingdom invites Americans to stay up to 180 days visa-free. Image: Unsplash/ Lucas Davies" class="wp-image-332280" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10074606/usa-approved-visa-united-kingdom-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10074606/usa-approved-visa-united-kingdom-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10074606/usa-approved-visa-united-kingdom-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10074606/usa-approved-visa-united-kingdom.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Across the pond, the United Kingdom invites Americans to stay up to 180 days visa-free. Image: Unsplash/ Lucas Davies</figcaption></figure>
The UK is famous for its rich art, music, and culture. Americans can live there for 180 days without a visa, and find plenty of job opportunities in this melting pot nation, especially for software developers, chefs, financial analysts, and hospitality staff. The country offers a favorable business environment and ranks highly for ease of doing business.
<h3 class="wp-block-heading">3. Panama</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="575" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10074659/usa-approved-visa-panama-1024x575.jpg" alt="Panama lets Americans stay for half a year visa-free. Image: Unsplash/ Luis Aleman" class="wp-image-332285" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10074659/usa-approved-visa-panama-1024x575.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10074659/usa-approved-visa-panama-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10074659/usa-approved-visa-panama-768x431.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10074659/usa-approved-visa-panama.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Panama lets Americans stay for half a year visa-free. Image: Unsplash/ Luis Aleman</figcaption></figure>
Located in Central America, Panama lets Americans stay for 180 days without a visa. With a resilient economy, 4.35 million people, and a GDP of $146 billion, Panama is one of the safest countries in the region. Its low inflation history and abundant job opportunities make it an attractive destination for Americans seeking a change of pace.
<h3 class="wp-block-heading">4. Barbados</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10074835/usa-approved-visa-barbados-1024x576.jpg" alt="Barbados offers a serene escape where Americans can stay for up to 180 days without a visa. Image: Unsplash/ Kathryn Maingot" class="wp-image-332291" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10074835/usa-approved-visa-barbados-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10074835/usa-approved-visa-barbados-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10074835/usa-approved-visa-barbados-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10074835/usa-approved-visa-barbados.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Barbados offers a serene escape where Americans can stay for up to 180 days without a visa. Image: Unsplash/ Kathryn Maingot</figcaption></figure>
Barbados offers tropical vibes and gorgeous beaches, where Americans can stay for 180 days without a visa. Most job opportunities are in tourism and hospitality, the island&#8217;s largest industries. Crime rates remain low, with only 21 cases reported in 2023. Barbados is known for its middle-income economy driven by tourism, tropical fruits, and clear oceans. Although not among the most stable economies, the country expects a steady economic recovery in 2024.
<h3 class="wp-block-heading">5. Bahamas</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10074939/Bahamas-1024x576.jpg" alt="The Bahamas allows a longer stay of 240 days without the need for visa arrangements. Image: Unsplash/ Fernando Jorge" class="wp-image-332294" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10074939/Bahamas-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10074939/Bahamas-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10074939/Bahamas-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10074939/Bahamas.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">The Bahamas allows a longer stay of 240 days without the need for visa arrangements. Image: Unsplash/ Fernando Jorge</figcaption></figure>
The Bahamas, a popular holiday spot for Americans, lets them stay visa-free for up to 240 days. Although it has a stable economy with a GDP per capita of around $31,000, finding job opportunities can be tricky for foreigners. Half of the country&#8217;s income comes from the tourism industry, and its crystal-clear waters and sandy beaches are sure to enchant you.

Travel

General

When Moving Abroad, Tax Is The Biggest Concern: 5 Best Countries Where Americans Can Relocate Hassle-Free

Rosenblatt analyst Mike Genovese maintains Applied Optoelectronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAOI#NASDAQ">AAOI</a>) with a Buy and lowers the price target from $20 to $16.

Price Target

Analyst Ratings

Rosenblatt Maintains Buy on Applied Optoelectronics, Lowers Price Target to $16

<ul>
<li>Supports expansion of Tevogen's ExacTcell&#x2122;&nbsp;platform toward additional clinical trials &nbsp;</li>
<li>Bolsters a financial path to positive cashflow and minimizes dilution</li>
</ul>
WARREN, N.J., May 10, 2024 (GLOBE NEWSWIRE) -- <a href="https://www.globenewswire.com/Tracker?data=oQoZxfDuzbnVDx8Utu05sULO-98PPFip2k0yAQ_ZK-aj1yp6FHzXfhzz569lw9P2y2pOxP1LfL1R8DQdtRVSLwzHZkccaTtCun4Gcqk5Xlk=">Tevogen Bio Holdings Inc.</a> ("Tevogen" or "Tevogen Bio") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TVGN#NASDAQ">TVGN</a>), a clinical-stage specialty immunotherapy biotech pioneer developing off-the-shelf, genetically unmodified T cell therapeutics in oncology, neurology, and virology, has entered into a binding term sheet [with an existing investor] to secure up to $50 million of financing.
This financing supports Tevogen Bio's pursuit of expanding research and development efforts with a focus on continued clinical development of the company's initial product, TVGN 489, from its ExacTcell technology platform. In January 2023, Tevogen Bio announced positive proof-of-concept clinical trial results of TVGN 489 for treatment of high-risk patients. The financing will also be utilized to facilitate Tevogen Bio's efforts to start additional clinical trials for virally induced cancers and multiple sclerosis.

Financing

TVGN

Tevogen Bio Entered Into A Binding Term Sheet With An Existing Investor To Secure Up To $50M Of Financing

Cresud SACIF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRESY#NASDAQ">CRESY</a>) reported quarterly earnings of $0.20 per share. This is a 64.91 percent decrease over earnings of $0.57 per share from the same period last year. The company reported $241.99 million in sales this quarter. This is a 63.51 percent increase over sales of $148.00 million the same period last year.

Earnings

CRESY

Cresud SACIF Q3 EPS $0.20 Down From $0.57 YoY, Sales $241.99M Up From $148.00M YoY

Vroom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRM#NASDAQ">VRM</a>) reported quarterly losses of $(37.68) per share. This is a 12.7 percent increase over losses of $(43.16) per share from the same period last year.

Vroom Q1 EPS $(37.68) Up From $(43.16) YoY

An internal review released Friday revealed significant challenges, to put it nicely, plaguing <a href="https://www.benzinga.com/topic/new-york-cannabis">New York&#8217;s legal cannabis market</a>.
The issues are primarily attributed to inexperienced leadership within the state&#8217;s Office of Cannabis Management (OCM). The report was blunt, calling the OCM a &#8220;mission-driven&#8221; startup rather than a competent government office. 
Governor Kathy Hochul then proceeded to fire Chris Alexander, the head of the OCM.
The report noted that the OCM was staffed with inexperienced leadership, lacked a transparent process for licensing new dispensaries and had virtually no customer service for licensees.
"The majority of OCM's most senior leadership has relatively limited experience in leading regulatory entities, and the agency has experienced significant turnover in executive roles," the report reads.
"It has struggled to make the transition to a mature regulatory agency," noted the report, which was produced by Office of General Services Commissioner Jeanette Moy and obtained by the <a href="https://nypost.com/2024/05/10/us-news/damning-internal-report-rips-hochuls-cannabis-agency/">NY Post</a> before being released publicly Friday.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/04/38230512/its-a-green-day-in-new-york-137-cannabis-licenses-granted-new-jersey-still-in-the-lead">It&#8217;s A Green Day In New York &#8211; 137 Cannabis Licenses Granted, New Jersey Still In The Lead</a>
The report highlighted "implementation challenges" that "resulted in confusion, difficulties, and delays for well-intentioned line staff as well as applicants," referring to the complicated hoops potential licensees have had to jump through.
Other key problems within the OCM included erratic changes in licensing regulations, a lack of transparency and ineffective enforcement measures. These issues have not only hindered the legal cannabis market but have also fostered the proliferation of unlicensed cannabis shops across New York state. The Big Apple alone has more than 2,000 illicit shops according the local authorities.
Hochul, recognizing the severity of the situation, <a href="https://www.benzinga.com/markets/cannabis/24/03/37776915/new-york-gov-hochul-orders-review-of-cannabis-licensing-process-after-numerous-setbacks">ordered a comprehensive review in March</a> to address the bureaucratic hurdles and legal setbacks faced by the OCM. 
At the time, she called the program a &#8220;disaster.&#8221;
Despite initial intentions to prioritize <a href="https://www.benzinga.com/markets/cannabis/23/03/31398249/new-york-marijuana-regulators-sued-by-big-players-for-alleged-violation-of-state-cannabis-law">social equity</a> by allocating licenses to nonprofits and individuals with prior convictions or those who suffered from the War on Drugs, the process was marred by <a href="https://www.benzinga.com/markets/cannabis/23/08/33617244/the-debacle-called-ny-cannabis-market-state-supreme-court-halts-new-retail-licenses-following-ve">lawsuits</a>, delays and regulatory inconsistencies.
The OCM's chief equity officer Damian Fagon also happens to be on administrative leave pending an ongoing internal investigation that he retaliated against a&nbsp;Hudson Valley cannabis processor&nbsp;who was critical of OCM.
At this point, with only a limited number of legal cannabis dispensaries operating since late 2022, the illegal market has thrived. Unlicensed retailers who seem to operate with impunity are undermining the legal framework – a situation the OCM seemed incapable of controlling.
The report outlined various policy solutions to address the agency&#8217;s challenges, including the recruitment of experienced staff, streamlining licensing processes, and engaging in public outreach efforts to identify and rectify issues.
Photo courtesy of OCM

Cannabis

Government

Regulations

Politics

Scathing Internal Report Exposes New York's Cannabis Agency As Inexperienced, Irresponsible, Ineffective: Heads Are Rolling

Mitek Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MITK#NASDAQ">MITK</a>) reported quarterly earnings of $0.01 per share which missed the analyst consensus estimate of $0.27 by 96.3 percent. This is a 96.55 percent decrease over earnings of $0.29 per share from the same period last year. The company reported quarterly sales of $46.97 million which beat the analyst consensus estimate of $46.44 million by 1.13 percent. This is a 3.65 percent increase over sales of $45.31 million the same period last year.

Earnings Beats

Earnings Misses

MITK

Mitek Systems Q2 EPS $0.01 Misses $0.27 Estimate, Sales $46.97M Beat $46.44M Estimate

Siebert Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIEB#NASDAQ">SIEB</a>) reported quarterly losses of $(0.03) per share. This is a 130 percent decrease over earnings of $0.10 per share from the same period last year. The company reported $19.70 million in sales this quarter. This is a 21.84 percent increase over sales of $16.17 million the same period last year.

SIEB

Siebert Finl Q1 EPS $(0.03) Down From $0.10 YoY, Sales $19.70M Up From $16.17M YoY

A recent Beacon Securities report focuses on Curaleaf&#39;s strategic financial management and the potential impacts of legislative changes on its operations. Concurrently, Needham&#39;s report highlights Trulieve&#39;s operational strengths and projected growth, emphasizing the company&#39;s adeptness in navigating regulatory landscapes and capitalizing on market opportunities.
<h2>Curaleaf&#39;s Strategic Gains Amidst Modest Revenue Growth</h2>
According to Beacon&rsquo;s report, Curaleaf Holdings Inc. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/curlf#OTC">CURLF</a>) demonstrated strategic resilience in the first quarter of 2024, recording <a href="https://www.benzinga.com/markets/cannabis/24/05/38748891/curaleaf-reports-q1-2024-revenue-of-339m-48-gross-margin-amid-strategic-global-expansion">revenues of $339 million and adjusted EBITDA of $77 million</a>. Although these figures slightly missed the consensus estimates, they surpassed Beacon Securities&#39; forecast, signaling robust operational efficiencies.
The adjusted gross margins saw a quarter-over-quarter increase of 117 basis points, indicative of improved asset utilization across their cultivation and manufacturing operations. Despite a slight decrease in vertical mix affecting overall margins, Curaleaf&#39;s operational adjustments led to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38656307/big-players-in-u-s-cannabis-could-play-the-stock-value-card-in-m-a-new-report-shows">stronger EBITDA margins</a> than anticipated.
Russell Stanley of <a href="https://beaconsecurities.ca/">Beacon </a>highlighted the company&#39;s adept management of operating cash flows which facilitated a significant <a href="https://www.benzinga.com/markets/cannabis/24/05/38603896/credit-check-what-does-dea-rescheduling-mean-for-cannabis-credit-ratings-big-companies-risk-retu">debt</a> repurchase post-quarter, enhancing its financial stability. Additionally, Russell considered the potential benefits from the <a href="https://www.benzinga.com/markets/cannabis/24/05/38597432/new-tax-rules-in-cannabis-what-are-the-consequences-dea-rescheduling">expected rescheduling of cannabis </a>and the implications of the SAFER Banking Act are poised to create a favorable financial landscape for Curaleaf.
<h3>Trulieve&#39;s Profitability</h3>
Concurrently, Trulieve Cannabis Corp. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcnnf#OTC">TCNNF</a>) reported a commendable start to 2024, with first-quarter revenues climbing to $297.6 million, outpacing expectations. According to Matt McGinley from <a href="https://www.needhamco.com/">Needham</a>, the company achieved the highest gross margin and EBITDA rates observed in over two years, at 58.4% and 35.5% respectively. This improvement is largely attributed to stabilized pricing and cost reductions in their Florida operations.
Trulieve&#39;s fiscal prudence was evident in their management of operating cash flow, which included a notable $96 million relating to 280E tax refunds, underscoring their adept navigation of regulatory landscapes to bolster financial health.
<h2>Projections</h2>
<h3>Curaleaf&#39;s Strategic Financial Management</h3>
Stanley and his team at Beacon Securities are optimistic about Curaleaf&#39;s ability to capitalize on impending <a href="https://www.benzinga.com/markets/cannabis/24/05/38559933/billions-on-the-move-tracking-market-cap-changes-in-top-cannabis-firms-after-dea-rescheduling-an">legislative reforms</a>. With the anticipated rescheduling of cannabis and the potential enactment of the SAFER Banking Act, Curaleaf is expected to gain considerable operational advantages. These changes could potentially increase the company&#39;s operating cash flow by 92% and free cash flow by 188%, thereby substantially <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38657697/post-cannabis-rescheduling-whats-next-for-marijuana-giants-potential-1-1b-cash-flow">boosting profitability</a> and enhancing shareholder returns.
Scanning through cannabis spreadsheets can take some time. To learn more about investing, don&#39;t miss the opportunity to join us at the&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/?UTM_source=article" target="_blank">19th Benzinga Cannabis Capital Conference</a>&nbsp;in Chicago this October 8-9. Engage with top executives, investors, policymakers, and advocates to explore the industry&#39;s future. Secure your tickets now before prices increase by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank">this link</a>.
<h3>Trulieve&#39;s Operations And Future Prospects</h3>
On the other hand, Needham&#39;s Matt McGinley praises <a href="https://www.benzinga.com/markets/cannabis/24/05/38730627/medical-marijuana-giant-trulieve-backer-of-floridas-recreational-cannabis-ballot-narrows-loss-re">Trulieve Cannabis Corp. </a>for its operational excellence, which he believes sets the company up for a successful financial year. He highlights Trulieve&#39;s record-setting gross margins and EBITDA rates at the beginning of 2024, attributing these achievements to the company&#39;s rigorous operational efficiencies and cost management strategies.
Moreover, he points to significant potential for growth in revenue stemming from <a href="https://www.benzinga.com/markets/cannabis/24/04/38531355/cannabis-stocks-and-etfs-surge-as-dea-moves-to-reschedule-marijuana">legislative advancements</a> in key markets like <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38470560/landing-in-floridas-cannabis-market-legal-adult-use-marijuana-could-yield-874m-in-2">Florida</a> and <a href="https://www.benzinga.com/topic/pennsylvania-cannabis">Pennsylvania</a>, which may transition to adult-use cannabis. This <a href="https://www.benzinga.com/markets/cannabis/24/05/38655829/cannabis-stocks-retreat-on-new-rescheduling-order-developments-whats-going-on">potential market expansion</a> could dramatically increase Trulieve&rsquo;s revenue base, potentially doubling it in these regions.
Photo: AI-Generated Image.&nbsp;

Analyst Color

Mid Cap

Retail Sales

Management

CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

CURLF

TCNNF

Cannabis Reports Highlight $339M And $297.6M Revenue Insights In Curaleaf And Trulieve's Q1 2024 Financials

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