Welcome to our dedicated page for Acreage Holding news (Ticker: ACRDF), a resource for investors and traders seeking the latest updates and insights on Acreage Holding stock.
Acreage Holdings, Inc. (ACRDF), founded in 2014, stands as a leading multi-state operator in the American cannabis industry. Formerly known as High Street Capital Partners, Acreage has established a diverse portfolio across 11 states, encompassing cultivation, processing, and dispensing operations. The company is dedicated to expanding its footprint and capabilities as legislation and regulations evolve, ensuring the provisioning of safe, dosable, and affordable cannabis products.
Acreage collaborates closely with regulators, physicians, and medical researchers to set new industry standards. The company's management team boasts a blend of veterans from the retail, food and beverage, legal, and financial disciplines, complemented by pioneers in cannabis cultivation.
Notable brands under Acreage include the award-winning The Botanist and Superflux, with products available nationwide. Recently, The Botanist Danbury Dispensary in Connecticut reported a 64% year-over-year sales growth, and the company achieved record wholesale sales in New Jersey, supported by infrastructure upgrades at its Egg Harbor Township facility.
Financially, Acreage reported consolidated revenue of $56.5 million for Q3 2023, with an adjusted EBITDA of $6.6 million. The company continues to focus on cost controls and operational efficiencies, reducing operating expenses by 37% year-over-year.
With recent launches like Superflux's limited-edition strains in New Jersey and The Botanist’s THC-infused gummies in New York, Acreage continues to innovate its product offerings. The company remains poised for growth, especially with the upcoming adult-use markets in New York and Ohio.
As a vertically integrated operator, Acreage's expansion initiatives include new dispensary openings, such as the upcoming Botanist Vernon in Connecticut, and enhancements in production capabilities, positioning Acreage as a competitive force in the cannabis market.
FAQ
What is the current stock price of Acreage Holding (ACRDF)?
What is the market cap of Acreage Holding (ACRDF)?
What is Acreage Holdings' core business?
When was Acreage Holdings founded?
What recent achievements has Acreage Holdings reported?
What are some of Acreage Holdings' key brands?
What was Acreage Holdings' consolidated revenue for Q3 2023?
What new products has Acreage Holdings recently launched?
What initiatives is Acreage Holdings pursuing for expansion?
How does Acreage Holdings collaborate within the industry?
Who makes up Acreage Holdings' management team?
What future markets is Acreage Holdings preparing to enter?
