Vireo Health International (VREOF)
Vireo Health is a physician-founded and patient focused company dedicated to providing the best in class cannabis products along with unrivaled care. With the completion of 5 pending acquisitions, Vireo will operate in 11 states consisting of Minnesoata, New York, Pennsylvania, Maryland, Ohio, Rhode Island, Arizona, Massachusetts, Nevada, New Mexico, and Puerto Rico.
Vireo Health cultivates cannabis in their environmentally friendly greenhouses and manufactures pharmaceutical grade cannabis extracts in their state of the art labs. Recently, in this past earnings report, VREOF reported a revenue of $7.2 million in Q2 which up 70% from the same period a year ago. During this earnings call, the company also announced that it would be expanding its operations into Puerto Rico.
As America’s leading physician-led cannabis company, VREOF has been dedicated to providing high quality cannabis products. The company uses a TrackWise digital quality management platform which allows employees to track product quality, process performance, and all quality events investigations. This system also helps assist with maintaining records so employees can go back and take a look at any errors to make sure they are corrected next time. This technology really shows that they are all about the quality of performance for the customers.
Currently, we see the stock is trading at $1.50. With the quality of the company, and support from volume, we see a buy in opportunity, the green line, at $2.00 a share. With all of the acquisitions from the company getting approved, we should see an increase in projected revenue as well as positive news and we have a target 1, the red line, at $2.50 a share. Hoping the stock and industry continue to drive the stock up all the way to target 2, the yellow line, at $4 a share.