Verano (OTCMKTS:VRNOF) to Repurchase $20.00 million in Outstanding Stock

Verano (OTCMKTS:VRNOF) declared that its Board of Directors has approved a share buyback program on Thursday, April 30th, RTT News reports. The company plans to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Verano Price Performance

Shares of OTCMKTS VRNOF remained flat at $1.26 during mid-day trading on Thursday. The company has a quick ratio of 1.16, a current ratio of 2.69 and a debt-to-equity ratio of 0.56. Verano has a fifty-two week low of $0.41 and a fifty-two week high of $3.58. The company has a market cap of $455.89 million, a PE ratio of -1.29 and a beta of 0.87. The business’s 50 day moving average is $1.26 and its 200 day moving average is $1.28.

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.