Excelsior Equities is terminating coverage of the cannabis sector due to reallocation of resources. While we remain bullish on the secular trends and fundamentals of the legal cannabis sector, and we remain bullish on select operators with better balance sheets and...

Mike Regan, Director of Research at Excelsior Equities, has published an initiation report on High Tide (HITI/HITI.V, $2.71/C$3.73), "Specialty Retailer with 62% Store Growth, Widening Competitive Moat, and 26% Upside to Comp Multiple" with a BUY rating and a...

Mike Regan, Director of Research at Excelsior Equities, has published an initiation report on Glass House Brands (GLASF/GLAS.NE, $6.80/$6.80), "Low-Cost High-Quality Producer Expanding Production & Profits, Cash Flow & Balance Sheet Benefits from Schedule 3"...

Mike Regan, Director of Research at Excelsior Equities, has published an initiation report on Trulieve Cannabis Corp (TCNNF/TRUL.CN, $8.67/C$11.71), "Undervalued on Status Quo + FCF & Upside Regulatory Catalysts: Rescheduling, Florida and Pennsylvania Adult Use"...

Mike Regan, Director of Research at Excelsior Equities, has published an initiation report on Verano Holdings (VRNOF/VRNO.NE, $3.25/C4.36), "Free Cash Flow, Growth Opportunities, Strong Balance Sheet, Potential Adult Use in Ohio, Florida and Pennsylvania" with a BUY...

Mike Regan, Director of Research at Excelsior Equities, has published an initiation report on TerrAscend (TSX: TSDN.TO, C$2.76 / OTC: TSNDF, US$2.03), "Institutional Quality US Cannabis on TSX; Pricing & Adult Use Legislation Catalysts" with a BUY rating and a...

Mike Regan, Director of Research at Excelsior Equities, has published a 31 page initiation report on Village Farms International (Nasdaq: VFF, $0.56), "Profitable Low-Cost Canadian Cannabis Leader + Secular Cannabis Growth & Multiple Expansion" with a BUY rating...

Mike Regan, Director of Research at Excelsior Equities, has published a 28 page initiation report on Green Thumb Industries (OTC ticker GTBIF $7.55, CSE ticker GTII.CN C$9.44) , "Premier Cannabis  FCF at 1/2 the Price of Alcohol" with a BUY rating and a $12.50...

Mike Regan, Director of Research at Excelsior Equities, has published a 70 page white paper titled "North American Cannabis Sector: 2023 is the Turn: Secular Growth with Positive Cyclical trends at Trough Valuations – But Watch Out for Leverage & Taxes". The...