Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
---|
Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
---|
Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
---|
iAnthus Capital Holdings, Inc. (CSE:IAN) (OTCQB:ITHUF) reported its financial results on Thursday for the third quarter ended September 30, 2023.
Analyst Pablo Zuanic at research firm Z&A said in a recent report that iAnthus Capital and other top cannabis multi-state operators (MSOs) have benefitted from the launch of Maryland's recreational cannabis sales this summer.
Maryland experienced a significant increase in total sales, reaching $270 million for 3Q23, primarily due to the start of recreational sales in July.
“MSOs with exposure to Maryland will benefit, with varying effects based on their sales in the state. Ascend, Curaleaf, Green Thumb, TerrAscend, and Verano have four stores in Maryland; Columbia Care, iAnthus, and Trulieve each have three; most also engage in wholesale,” Zuanic wrote.
“Many firms don't break down sales by state, but Maryland will significantly impact Ascend, TerrAscend, iAnthus, and MariMed. Other MSOs have more diversified state portfolios, but Maryland remains a positive driver.”
In October, Maryland’s licensed retailers sold $90 million worth of medical and recreational cannabis products. Out of that sum, medical marijuana sales accounted for $35 million, while recreational sales amounted to $55 million, reaching a new record in the prior month.
iAnthus’ shares traded 1.7778% higher at $0.0229 per share at the market close on Thursday afternoon.
47.10% with $GTBIF
40.23% with $TCNNF
21.50% with $VFF