Verano (OTCMKTS:VRNOF) Authorizes Share Repurchase Plan

Verano (OTCMKTS:VRNOF) announced that its board has authorized a share repurchase plan on Thursday, April 30th, RTT News reports. The company plans to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 4.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Verano Price Performance

VRNOF remained flat at $1.26 during trading hours on Thursday. Verano has a twelve month low of $0.41 and a twelve month high of $3.58. The stock’s 50 day moving average is $1.26 and its two-hundred day moving average is $1.28. The company has a quick ratio of 1.16, a current ratio of 2.69 and a debt-to-equity ratio of 0.56. The stock has a market cap of $455.89 million, a price-to-earnings ratio of -1.29 and a beta of 0.87.

Verano Company Profile

Verano Holdings Inc (OTCMKTS: VRNOF) is a vertically integrated cannabis company engaged in cultivation, processing and retail operations across the United States. The company focuses on both medical and adult?use markets, operating high?quality cultivation facilities and dispensaries under several retail brands. Through its cultivation network, Verano produces flower, pre?rolls, concentrates, vape cartridges, edibles and topicals, aiming to serve a wide range of consumer preferences and therapeutic applications.

Verano’s retail footprint extends across multiple states and territories, including Florida, Illinois, Massachusetts, Michigan, New Jersey, New York, Pennsylvania, Ohio, Maryland, Iowa, Missouri, Nevada and Puerto Rico.