As of May 26, 2023, New York’s Office of Cannabis Management has unveiled a new strategy to tackle the supply chain challenges faced by cannabis growers in the state. In a bid to address the limited number of retail outlets, the OCM has announced plans to launch cannabis farmers’ markets this summer.
Currently, only 13 retailers are operational in New York, leaving many cannabis growers with a surplus of products that they had intended to sell to suppliers. The new plan will allow a minimum of three growers and a retailer to organize events where cannabis flower and pre-rolls can be sold at non-storefront locations.
The OCM has stated that it plans to grant permission for these markets to take place wherever municipal approval can be obtained. This move is expected to foster a vibrant and diverse marketplace, providing a much-needed boost to the industry.
Experts in the cannabis industry have praised the introduction of these farmers’ markets, citing the success of similar events across the state. The OCM has also expressed its openness to considering the permanent implementation of these markets, further boosting the prospects of the cannabis industry in New York.
ACRDF Stock Opens Lower at 0.33 on May 26, 2023 with Higher Than Average Trading Volume
On May 26, 2023, ACRDF opened at 0.33, which was lower than its previous close of 0.37. Throughout the day, the stock fluctuated between 0.33 and 0.44, with a total volume of 14,498 shares traded. This was higher than the average volume of the last three months, which was 8,198 shares.
ACRDF Stock Performance: Overview and Analysis for May 26, 2023
ACRDF Stock Performance on May 26, 2023: An Overview
On May 26, 2023, Acreage Holdings Inc (ACRDF) stock had a median target price of 0.50, with a high estimate of 0.50 and a low estimate of 0.50, according to one analyst offering 12-month price forecasts for the stock. This median target price represented a +21.95% increase from the last price of 0.41.
The current consensus among two polled investment analysts was to hold stock in Acreage Holdings Inc, a rating that has remained steady since April when it was unchanged from a hold rating.
Earnings per Share and Sales
The current quarter earnings per share for Acreage Holdings Inc stood at -$0.04, while sales were $67.7 million.
Stock Performance Analysis
Acreage Holdings Inc is a cannabis company that operates in the United States. The company has been performing well in the stock market, with a steady growth trend.
On May 26, 2023, the stock price of Acreage Holdings Inc closed at $0.41, which was a 52-week low. However, the median target price of $0.50 suggested a potential increase in the stock price by 21.95% in the next 12 months.
Investment analysts’ consensus to hold the stock was an indication of the company’s potential for growth in the future. The company’s earnings per share were negative, but its sales were impressive, indicating that the company was generating revenue despite its losses.
Conclusion
Acreage Holdings Inc is a cannabis company that has been performing well in the stock market. The company’s stock price had a median target price of $0.50, suggesting a potential increase of 21.95% in the next 12 months. The consensus among investment analysts was to hold the stock, indicating the company’s potential for growth in the future. The company’s earnings per share were negative, but its sales were impressive, indicating that the company was generating revenue despite its losses.
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