Viridian Capital Advisors

Viridian Capital Advisors

Benzinga Contributor

Cannabis Chart Of The Week: Which Margins Should Investors Focus On?
Viridian’s Chart of the Week focuses on the strengths and weaknesses of different margins as a measure of profitability and credit quality.
Chart Of The Week: The IRS Grabbed The Cannabis Stock Market's Attention
On Friday, June 28, 2024, Cannabis stocks were pounded by two different adverse events.
Cannabis Chart Of The Week: Is Financial Strength Related To YTD Stock Performance?
The Viridian Chart of the Week explores the relationship between financial strength and YTD stock performance.  
Cannabis Chart Of The Week: Lenders Vs. Borrowers – The Wisdom Of Diversification
The chart shows the YTD stock performance of two equally weighted baskets of stocks.
Cannabis Chart Of The Week: What Should MSO EBITDA Multiples Be?
Viridian created a discounted cash flow model ("DCF") to calculate a range of theoretically supportable EV/EBITDA multiples, given analysts' expectations for 2024-2025 and reasonable assumptions for the seven years after that.
Cannabis Chart Of The Week: Are U.S. Cultivation & Retail Capital Raises About To Swing Upward?
The Viridian Chart of the Week shows U.S. Cultivation & Retail sector capital raises, which are up 48% YTD from 2023, albeit from a historically low base. The increase contrasts with a 22.0% decline for all cannabis-related sectors worldwide and a 32.5% decline of all U.S. cannabis raises.
Chart: Cannabis Is More Capital-Intensive Than Tobacco, Alcohol, Pharmaceuticals - Does It Pay Off?
The Viridian Chart of the Week on 8/27/23 demonstrated that cannabis is more capital-intensive than tobacco, alcohol, pharmaceuticals, or general consumer products. Cannabis measured 1.67x capital/sales. The industry has managed to reduce capital intensity slightly since then, and the group now measures 1.54x capital/sales.
Cannabis Chart Of The Week: Are Ancillary Sectors Participating In The Rescheduling Price Upswing?
The graph depicts the stock price performance of baskets of stocks in six different cannabis industry subsectors. Each basket consists of the top four or five U.S. companies in each group. The stocks in each basket are equally weighted, and the basket prices are indexed so that August 25, 2023 (the Friday before the HHS announcement) equals 100.
Cannabis Chart Of The Week: Analysts React Meekly To Strong Q1'24 Earnings
In our January 2024 outlook, we asserted that cannabis equity analysts, having been burned by the need for continual downward revisions in 2023, were undershooting in their 2024 & 2025 estimates. First quarter results are now in for ten major MSOs, and the results lend credence to our claims.
Cannabis Chart Of The Week: How Does Liquidity And Market Cap. Impact Valuation Metrics?
This week’s Chart of the Week explores the relationship between market cap., liquidity, and valuation. 
Cannabis Chart Of The Week: How Much Are U.S. MSOs Undervalued Compared To Other Industries?
The chart shows Enterprise Value to 2024 consensus EBITDA multiples on the vertical axis against 2023-2025 Revenue CAGR on the horizontal axis for thirteen different industries.
Cannabis Chart Of The Week: How Much Have MSO Valuation Multiples Changed In The Last Year And Why?
Most cannabis industry observers realize that valuations and valuations multiples for the major MSOs are up Y/O/Y, spurred by the promise of rescheduling.  
Chart: Is The Rise In Florida Centric Cannabis Stock Prices Overdone? (Probably Not!)
Florida-centric cannabis stocks rose more than the overall market last week as investors awaited an April 1, 2024 deadline for the Florida Supreme Court to rule on whether adult Floridians will be allowed to vote for on a constitutional amendment to legalize adult recreational cannabis -- which was
Viridian Chart Of The Week: Is Consolidation Increasing In Cannabis?
Viridian noted in a Chart of the Week published in November 2022 that increased “consolidation is inevitable” in the Cannabis industry. What does the latest data show?
Cannabis Chart Of The Week: The Market Reacted Rationally (For A Change) To 4th Qtr 2023 Earnings Releases
Earnings for the 4th quarter of 2023 have largely been released, and the results were generally positive, with a few exceptions. Unlike what we expected, the market reacted rationally to the EBITDA beats with a statistically significant .75 correlation between EBITDA surprises and stock performance.
Cannabis Chart Of The Week: EBITDA Expectations For Q3:23 And Full Year 2024 – Are Analysts Playing It Safe?
4th Quarter cannabis earnings releases commence this week, and the graph depicts the consensus expectations for twelve of the largest MSOs.
A Dramatic Demonstration Of Cannabis Illiquidity – The MJUS ETF Rebalancing
Cannabis Stocks have been trending downward for two weeks, but the MJUS ETF rebalancing efforts gave some of them an additional shove.
Cannabis Chart Of The Week: Who's Growing In Florida, And Has The State Gotten Ahead Of Itself?
Florida is often considered one of the most critical states in terms of growing legal cannabis sales. The State is estimated to have approximately $2.6B in 2023 legal sales, representing a per capita consumption of about $118 based on the total population or $145 based on adult population.
Cannabis Chart Of The Week: Has Trading Liquidity Improved For Marijuana Stocks?
The release of the unredacted text of the HHS recommendation has spurred cannabis equity prices upward. The MSOS ETF (NYSE: MSOS) has risen approximately 27% over the last month. But has the pricing strength been accompanied by greater absolute and relative trading volumes?
Five Stocks That Are Attractively Priced, Solid Credits, With Room To Run
The first week of 2024 saw significant stock price appreciation for most of the 30 stocks Viridian Capital Advisors credit ranks weekly. As a proxy, the MSOS ETV rose 12.84%, the sharpest uptick since the HHS announcement at the end of August. There was no particular news to account for the uptick except for confirmation from the DEA that they are indeed studying the issue of rescheduling.