How the Latest Move for Acreage Holdings Inc (OTCMKTS:ACRGF) Could Unleash the...

How the Latest Move for Acreage Holdings Inc (OTCMKTS:ACRGF) Could Unleash the Bull

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As we continue to carve out the boundaries of the consolidation and rebound in the cannabis patch, Acreage Holdings Inc (OTCMKTS:ACRGF) stands out as an extremely interesting case study right now for investors. To further flesh out the story, the company just announced that its subordinate voting shares have been listed on the open market of the Frankfurt Stock Exchange under the symbol “OVZ.”

According to the release, the company’s subordinate voting shares continue to be listed on the Canadian Securities Exchange under the symbol “ACRG.U” and on the OTC under the symbol “ACRGF.”

Acreage Holdings Inc (OTCMKTS:ACRGF) bills itself as Acreage Holdings, formerly High Street Capital Partners, is a principal investment firm specializing in cannabis industry. Acreage Holdings was founded in 2014 and is based in New York, New York.

This is a vertically integrated, multi-state owner of cannabis licenses and assets in U.S. states where either medical and/or adult use of cannabis is legal. With one of the largest geographic footprints of any cannabis companies, it currently owns and/or operates cultivation, processing and dispensary operations. The Company is dedicated to building and scaling operations to create a seamless, consumer-focused branded cannabis experience.

According to public filings, Acreage is the largest multi-state cannabis operator in the United States in terms of number of states with operating licenses, largest total addressable market, and largest serviceable population.  More recently, Acreage announced a transformative acquisition of Form Factory, which will provide the company with the capabilities to become the cannabis industry’s first and only Consumer Packaged Goods company with a national footprint.

Headquartered in New York City, Acreage Holdings is the largest vertically integrated, multi-state owner of cannabis licenses and assets in U.S. states with respect to number of states with operating licenses, according to public filings.

With operating licenses in 19 states, serving a population of more than 172 million Americans, and an estimated 2022 total addressable market of approximately $14 billion in legal cannabis sales according to Arcview Market Research.  Acreage is dedicated to building and scaling operations to create a seamless, consumer-focused branded cannabis experience.

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As noted above, ACRGF just announced that its subordinate voting shares have been listed on the open market of the Frankfurt Stock Exchange under the symbol “OVZ.”

Recent action has seen -7% stripped out of share pricing for the company in the past week. In addition, the name has registered increased average transaction volume recently, with the past month seeing 56% over the long run average.

The move toward inclusion on the Frankfurt exchange can only help the company’s situation as it expands access to capital markets. The move is another step in the expanding reach of the sector, which is important as shares test the key 200-day simple moving average.

Currently trading at a market capitalization of $2.41B, ACRGF has a significant war chest ($74.2M) of cash on the books, which compares with about $69.9M in total current liabilities. One should also note that debt has been growing over recent quarters. ACRGF is pulling in trailing 12-month revenues of $12.8M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 160%. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $ACRGF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $ACRGF, either long or short, and we have not been compensated for this article.

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