About Acreage Holdings
Acreage Holdings (ACRG-U) (ACRGF) is a vertically integrated cannabis company that operates in multiple regions across the United States. In 2018, the company continued to acquire controlling positions in all of its portfolio of companies in order to operate as a single entity.
Together with its portfolio of companies, Acreage owns licensed dispensary, cultivation, and processing facilities across 19 states, which service a total of 172 million Americans.
On November 15, Acreage listed its subordinate voting shares on the Canadian Securities Exchange at an IPO price of $19.75. The pessimism surrounding cannabis stocks and the weakness in the broader equity market due to the Fed’s interest rate hike and concerns about the US government shutdown led the stock to fall to $19.00 as of the end of 2018.
However, the company started 2019 on a positive note, and its stock is up 19.6% YTD (year-to-date) as of January 18. The company is trading at an 89.6% premium to its 52-week low of $11.99 and an 18.3% discount to its 52-week high of $26.90.
Earlier this month, Acreage qualified to list on the OTCQX marketplace, which is reserved for companies with high financial standards. The optimism surrounding its listing on OTCQX led the stock to rise. The company also completed its acquisition of Nature’s Way Nursery of Miami, a Florida-based cannabis company, this month, which contributed to a rise in its stock price.
Next, we’ll look at Acreage’s business and analysts’ revenue expectations.