Verano Holdings Stock (OTC:VRNOF), Trade Ideas

Verano Holdings Corp is a vertically integrated multi‐state cannabis operator in the United States. The Company has two reportable segments: (i) cultivation (wholesale) and (ii) retail. The company's consumer brands include Encore, Avexia, MÜV, Savvy, BITS and Verano. The company's retail dispensaries operate under brands including Zen Leaf and MÜV. The company derives its revenues from Retail segment.

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In the first quarter of 2024, the cannabis sector faces a mixed economic landscape with a notable sequential decline in sales across several states.

Who&#39;s Winning In Weed? Analyst Looks At Cannabis Market&#39;s Big Players, Where Are The Best Bets?

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THE CANNABIST CO HLDG by THE CANNABIST COMPANY HOLDINGS INC.

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STEEL AND TUBE HLDGS LTD by Steel and Tube Holdings Ltd

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This 4/20 cannabis retailers anticipate record-breaking sales fueled by last year&#39;s +130% spike and the fortunate alignment of this year&#39;s celebration falling on a Saturday.

4/20 Cannabis Retail Frenzy: Leading Brands Ready For Record Sales Surge - Who Will Lead?

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This is an excerpt from Todd Harrison&#39;s Cannabis Confidential newsletter, published on April 17.

Inside The Top Cannabis Business Conference In America: High Expectations For Reform, The Future Of Banking And Taxes

VERANO HLDGS CORP by Verano Holdings Corp.

Verano Holdings Corp

INTC

Intel Exec Said Co Sees Q1 As The Bottom And Expects Sequential Revenue Growth Throughout The Year And Into 2025- Conf Call

Healthpeak Properties Raises FY24 Diluted AFFO Guidance From $1.50–$1.56 To $1.53–$1.57

CUBE

CubeSmart Still Expects FY24 FFO Per Share, As Adjusted, Of $2.59-$2.69 (Est $2.65); $0.63-$0.65 For Q2 (Est $0.65)

Codorus Valley Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVLY#NASDAQ">CVLY</a>) reported quarterly earnings of $0.44 per share which missed the analyst consensus estimate of $0.47 by 6.38 percent. This is a 39.73 percent decrease over earnings of $0.73 per share from the same period last year.

Earnings

Earnings Misses

CVLY

Codorus Valley Bancorp Q1 EPS $0.44 Misses $0.47 Estimate

OP Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPBK#NASDAQ">OPBK</a>) reported quarterly earnings of $0.34 per share which beat the analyst consensus estimate of $0.28 by 21.43 percent.

Earnings Beats

OPBK

OP Bancorp Q1 2024 GAAP EPS $0.34 Beats $0.28 Estimate

Fusion Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUSN#NASDAQ">FUSN</a>), a clinical-stage oncology company focused on developing next-generation radioconjucates (RCs) as precision medicines, today announced that it has filed and is in the process of mailing the management information circular and proxy statement (the "Circular") and related materials for the special meeting (the "Meeting") of Fusion's shareholders (the "Shareholders") to approve the previously announced arrangement with AstraZeneca plc ("AstraZeneca") under the Canada Business Corporations Act (the "Arrangement").
Under the terms of the Arrangement, AstraZeneca, through a subsidiary, will acquire all of Fusion's outstanding shares for a price of US$21.00 per share in cash at closing plus a non-transferable contingent value right (CVR) representing the contingent right to receive US$3.00 per share in cash payable upon the achievement of a specified regulatory milestone, pursuant and subject to the terms and conditions of a contingent value rights agreement.
The Arrangement is subject to approval by the affirmative vote of (i) not less than 66⅔% of the votes cast by the Shareholders, present in person or represented by proxy at the Meeting, each being entitled to one vote per share, and (ii) a majority of the votes cast by the Shareholders&nbsp;present in person or represented by proxy at the Meeting, each being entitled to one vote per share after excluding the votes of those persons whose votes are required to be excluded in accordance with Multilateral Instrument 61-101 of the Canadian Securities Administrators (the "CSA").
Interim Order
Fusion also announced today that the Ontario Superior Court of Justice (Commercial List) (the "Court") has issued an interim order in connection with the Arrangement authorizing various matters, including the holding of the Meeting and the mailing of the Circular.

FUSN

AstraZeneca, Through A Subsidiary, Will Acquire All Of Fusion's Outstanding Shares For A Price Of $21.00 Per Share In Cash At Closing Plus A Non-Transferable CVR Representing The Contingent Right To Receive $3.00/Share In Cash Payable Upon The Achievement Of A Specified Regulatory Milestone, Pursuant And Subject To The Terms And Conditions Of A Contingent Value Rights Agreement

Hundreds of people, mostly students, have been arrested this week across the country as pro-Palestine protests spread <a href="https://www.benzinga.com/general/politics">at college campuses</a>.
Protesters are calling for a cease fire and have now added a new demand: they expect their universities to sell off stocks in companies that directly or indirectly benefit from Israel's actions in Gaza and the West Bank.
Columbia University in New York has shifted to online classes <a href="https://www.benzinga.com/news/24/04/38358514/mike-pence-tim-scott-slam-pro-palestinian-protests-in-columbia-university-no-place-for-anti-semitism">after over 100 pro-Palestinian protesters were arrested last Thursday</a>. 
Protests continued this week at several universities in the country where local police departments arrested hundreds more.
At New York University, 133 protesters were taken into custody on Wednesday and later released with summonses to appear in court.
At least 57 protesters were arrested in Austin on Wednesday as a protest sparked on the University of Texas campus, according to a spokeswoman for the Travis County Sheriff's Office, <a href="https://apnews.com/article/gaza-war-campus-protests-966eb531279f8e4381883fc5d79d5466">cited</a> by the Associated Press.
Over 90 people were arrested on Wednesday night at the University of Southern California according to the Los Angeles Police Department. The university has since closed the campus and said it expects anyone trespassing to be arrested, in an effort to stop the protests.
Two more people were arrested at Ohio State University. Seventeen were arrested at Emory University in Atlanta, Georgia. In Boston, 108 people were arrested in an Emerson College encampment, while 48 were arrested at Yale University in New Haven.
More encampments were put together on campuses at the University of Michigan, University of Minnesota and University of California, Berkeley.
Israeli President Benjamin Netanyahu said on Wednesday that "what's happening in America's college campuses is horrific."
"Antisemitic mobs have taken over leading universities. They call for the annihilation of Israel. They attack Jewish students. They attack Jewish faculty," said Netanyahu, who has been widely criticized for the actions of Israel Defense Forces in Gaza, which have taken 34,000 civilian lives according to the Palestinian Health ministry.
Read also: <a href="https://www.benzinga.com//node/38411689">Israel Gears Up For Military Strike In Rafah Despite Biden&#8217;s Warning</a>
<h1 class="wp-block-heading">Students Call For Divestment From Israel</h1>
Student protesters launched an encampment in the Harvard Yard on Wednesday, demanding the university to "divest from Israel's war in Gaza," the Harvard Crimson <a href="https://www.thecrimson.com/article/2024/4/25/harvard-yard-protest-palestine/">reported</a>.
Harvard boasts the largest university endowment in the world, at about $50 billion, which is made up of approximately 14,000 funds.
SEC filings by the Harvard Management Company, which operates the investments, don't show Israeli companies among its largest investments. 
Top allocations include stocks from the technology sector, including Alphabet Inc Class C (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) and ASML Holding NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>).
Protesters at several other colleges also had similar demands, calling for a sell-off of all assets associated with supporting the war effort in Gaza or the Israeli government. The strategy is meant to put symbolic pressure on Israel to reach a cease-fire.
The demand is seen as a clear way in which universities can take direct action against Israel.&nbsp;
While the stakes that universities hold on the targeted companies are not enough to cause significant disruption on an economic scale, the action would be considered a win by the protesting bodies as well as a symbolic gesture that could influence public opinion on the issue.
Columbia University student and protest leader Mahmoud Khalil <a href="https://www.nbcnews.com/business/business-news/college-protesters-divest-from-israel-what-it-means-rcna149147">said</a> to NBC News that his university "should stop investing in this genocide," as protesters sang to the slogan of "disclose, divest, we will not stop, we will not rest."
Columbia President Minouche Shafi marked Friday as the deadline for dismantling the ongoing encampment at the university before having "to consider alternative options.&#8221;
What "divesting" actually means varies from protest to protest. 
<a href="https://www.nytimes.com/2024/04/24/business/college-protesters-divestment-israel.html">According</a> to the NY Times, protesters at Yale and Cornell demanded for a divestment in all weapon manufacturers including Boeing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>). 
At Columbia on the other hand, protesters see companies that are indirectly benefiting from Israeli as targets for divestment, including Alphabet-owned Google, which has a $1.2-billion contract with the Israeli government for cloud services.
Last week, it became known that Google fired 28 employees <a href="https://www.benzinga.com/markets/equities/24/04/38306735/google-reportedly-fires-28-staff-members-over-israel-cloud-contract-protests-majority-of-our-emp">who participated in a sit-in protesting the same contract from within the company</a>. The contract also includes Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).
Airbnb Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>) was also targeted by students because it has open listings of lodging in areas of the West Bank occupied by Israel.
By Thursday, no major U.S. university had publicly announced plans to divest in companies following protester's demands.
Now read: <a href="https://www.benzinga.com//node/38353867">Israeli Military Intel Chief Resigns Over Hamas Attack Failures: &#8216;I Have Carried That Black Day With Me Ever Since&#8217;</a>
Shutterstock image: Supporters from various groups and some students continue pro-Palestinian protest at Columbia University in New York on April 19, 2024, as part of &#8220;March for Divestment.&#8221;

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Students Demand Universities Sell Off Israel-Related Stocks, Hundreds Arrested In Nationwide Protests: 'Stop Investing In This Genocide'

T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) reported its first-quarter financial results after the bell Thursday. Here's a <a href="https://www.benzinga.com/pressreleases/24/04/b38443253/t-mobile-delivers-industry-leading-customer-service-revenue-and-profitability-growth-in-q1-2024-an">look at the highlights.&nbsp;</a>
The Details:
T-Mobile reported quarterly earnings of $2.00 per share, which beat the analyst consensus estimate of $1.89 by 5.82%. 
Quarterly sales clocked in at $19.594 billion, which missed the analyst consensus estimate of $19.811 billion by 1.09% and represents a 0.19% decrease from the same period last year.
The company reported quarterly postpaid net account additions of 218,000 and postpaid service revenues of $12.6 billion, up 6% year-over-year.&nbsp;
T-Mobile had a great start to 2024 with industry-leading growth in service revenues and profitability,&#8221; said Mike Sievert, CEO of T-Mobile. &#8220;Even as the rest of wireless saw moderated customer growth, our momentum continued thanks to our increasingly differentiated combination of the best value, best network, and best experiences that customers love. We&#8217;re excited about our path forward and our raised guidance for 2024 reflects our confidence in what&#8217;s to come.&#8221; 
Outlook:&nbsp;
T-Mobile sees full-year 2024 postpaid net customer additions of between 5.2 million and 5.6 million, up from its prior guidance of between 5 million and 5.5 million.
Related News:<a href="https://www.benzinga.com/news/earnings/24/04/38441140/s-p-global-reports-q1-results-raises-revenue-guidance">S&amp;P Global Reports Q1 Results, Raises Revenue Guidance</a>
TMUS Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, T-Mobile shares are up 0.73% after-hours at $165.25 at the time of publication Thursday.
Image: Viewimage from Shutterstock

Movers

TMUS

T-Mobile Reports Mixed Q1 Results: EPS Beat, Revenue Misses

Associated Banc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASB#NYSE">ASB</a>) reported quarterly earnings of $0.52 per share which beat the analyst consensus estimate of $0.47 by 10.64 percent. This is a 21.21 percent decrease over earnings of $0.66 per share from the same period last year. The company reported quarterly sales of $322.843 million which missed the analyst consensus estimate of $324.996 million by 0.66 percent. This is a 3.94 percent decrease over sales of $336.083 million the same period last year.

Associated Banc Q1 2024 GAAP EPS $0.52 Beats $0.47 Estimate, Sales $322.843M Miss $324.996M Estimate

Stock Split

RCON

Recon Technology Announces 1-For-18 Reverse Stock Split

APPF

AppFolio Raises FY24 Revenue Forecast From $755M-$765M To $766M-$774M, Est $764.752M

HUBG

Hub Group Sees 2024 EPS $1.80-$2.25 vs $2.12 Est., Revenue $4.3B-$4.7B vs $4.58B Est.

Celestica Inc. ((NYSE, TSX:<a href="https://www.benzinga.com/stock/CLS#TSX">CLS</a>), a leader in design, manufacturing and supply chain solutions for the world's most innovative companies, today announced, in accordance with the requirements of the Toronto Stock Exchange, that the nominees listed in its management information circular were elected as directors of the company at its Annual and Special Meeting of Shareholders held earlier today. &nbsp;
On a vote by ballot, each of the following nine nominees proposed by management was elected as a director of Celestica:
<figure class="table"> 
<table>
<tbody>
<tr>
<td>Nominee</td>
<td>Votes For</td>
<td colspan="2">% Votes For</td>
<td>Votes Withheld</td>
<td colspan="2">% Votes Withheld</td>
</tr>
<tr>
<td>Kulvinder (Kelly) Ahuja</td>
<td>83,255,455</td>
<td>99.19%</td>
<td>676,581</td>
<td>0.81%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Robert A. Cascella</td>
<td>79,234,911</td>
<td>94.40%</td>
<td>4,697,125</td>
<td>5.60%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Deepak Chopra</td>
<td>82,921,882</td>
<td>98.80%</td>
<td>1,010,154</td>
<td>1.20%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Françoise Colpron</td>
<td>83,017,909</td>
<td>98.91%</td>
<td>914,127</td>
<td>1.09%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Jill Kale</td>
<td>83,125,894</td>
<td>99.04%</td>
<td>806,142</td>
<td>0.96%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Laurette T. Koellner</td>
<td>77,101,548</td>
<td>91.86%</td>
<td>6,830,487</td>
<td>8.14%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Robert A. Mionis</td>
<td>83,851,612</td>
<td>99.90%</td>
<td>80,423</td>
<td>0.10%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Luis A. Müller</td>
<td>82,909,580</td>
<td>98.78%</td>
<td>1,022,456</td>
<td>1.22%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Michael M. Wilson</td>
<td>81,673,082</td>
<td>97.31%</td>
<td>2,258,954</td>
<td>2.69%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
</tbody>
</table>
</figure>
 Celestica also announced that the resolution regarding the articles of amendment removing provisions concerning Celestica's multiple voting shares and redesignating Celestica's subordinate voting shares as common shares was approved at the Annual and Special Meeting of Shareholders. Celestica will be proceeding with the removal of the multiple voting shares and with the reclassification of the subordinate voting shares to common shares.

Celestica Announces Approval To Proceed With Share Reclassification

Aesthetic Medical International Holdings Group Announces Receipt Of Decision From Nasdaq Hearings Panel For Conditional Continued Listing

Eldorado Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGO#NYSE">EGO</a>) reported quarterly earnings of $0.27 per share which beat the analyst consensus estimate of $0.17 by 58.82 percent. This is a 200 percent increase over earnings of $0.09 per share from the same period last year. The company reported quarterly sales of $257.967 million which missed the analyst consensus estimate of $280.480 million by 8.03 percent. This is a 13.24 percent increase over sales of $227.815 million the same period last year.

Eldorado Gold Q1 2024 Adj EPS $0.27 Beats $0.17 Estimate, Sales $257.967M Miss $280.480M Estimate

First Business Finl Servs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBIZ#NASDAQ">FBIZ</a>) reported quarterly earnings of $1.04 per share which missed the analyst consensus estimate of $1.12 by 7.14 percent. This is a 0.95 percent decrease over earnings of $1.05 per share from the same period last year. The company reported quarterly sales of $36.28 million which missed the analyst consensus estimate of $37.73 million by 3.85 percent. This is a 3.31 percent increase over sales of $35.12 million the same period last year.

FBIZ

First Business Finl Servs Q1 EPS $1.04 Misses $1.12 Estimate, Sales $36.28M Miss $37.73M Estimate

Dividends

Parker Increases Quarterly Cash Dividend From $1.48 To $1.63 per Share

Gaming and Leisure Properties Sees2024 AFFO $3.71-$3.74 Per Share

Healthpeak Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOC#NYSE">DOC</a>) reported quarterly earnings of $0.45 per share which beat the analyst consensus estimate of $0.44 by 2.27 percent. This is a 7.14 percent increase over earnings of $0.42 per share from the same period last year. The company reported quarterly sales of $606.560 million which beat the analyst consensus estimate of $588.284 million by 3.11 percent. This is a 15.39 percent increase over sales of $525.678 million the same period last year.

Healthpeak Properties Q1 2024 FFO $0.45 Beats $0.44 Estimate, Sales $606.560M Beat $588.284M Estimate

Agnico Eagle Mines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEM#NYSE">AEM</a>) reported quarterly earnings of $0.76 per share which beat the analyst consensus estimate of $0.60 by 26.67 percent. This is a 31.03 percent increase over earnings of $0.58 per share from the same period last year. The company reported quarterly sales of $1.830 billion which beat the analyst consensus estimate of $1.733 billion by 5.61 percent. This is a 21.19 percent increase over sales of $1.510 billion the same period last year.

Agnico Eagle Mines Q1 2024 Adj EPS $0.76 Beats $0.60 Estimate, Sales $1.830B Beat $1.733B Estimate

Verano Holdings Is No Bargain

The bad news from Tilray (its Q3 net loss increased by 128%} took a toll last week on the constituents of both the Canadian Cannabis LPs Index and the American Cannabis MSOs Index with all 12 declining by an average of 12%.

Marijuana Stocks Followed The Leader Last Week Tumbling 12%, On Average

Marijuana banking legislation could be attached to crypto bill - report

White House says marijuana rescheduling review is now with DOJ

Marijuana banking unlikely to pass House due to Republican leadership spat

Marijuana banking could pass House in must-pass bill - report

Marijuana groups call on Biden to remove cannabis from Controlled Substances Act

On eve of 4/20, White House and Democratic lawmaker tout marijuana progress

MSOS: 4/20 Is Cannabis Day - Significant Implications For Investors

On 4/20 Day, even non-cannabis companies get in the spirit

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Press Releases

NI 62-103 Report

Verano Broadens Retail Footprint in Northeast Florida with the Opening of MÜV Yulee, the Company's 74th Florida Location

Verano to Report Fourth Quarter and Full Year 2023 Financial Results on February 29, 2024

Verano Announces the Opening of Zen Leaf Abington, the Company's Largest Dispensary Nationwide, in Prime New Philadelphia Area Location

Verano Expands Pennsylvania Retail Footprint with the Opening of Zen Leaf Norristown, the Company's 18th Affiliated Pennsylvania Dispensary and 138th Retail Location Nationwide

Verano Announces Fourth Quarter and Full Year 2023 Financial Results

Verano Announces Upcoming Conference Participation

Verano Announces Revised Fourth Quarter and Full Year 2023 Financial Results

Verano Launches Cabbage Club™, Disrupting the Current Cannabis Retail Landscape with Industry-First National Membership Model