Ascend Wellness Stock Price, News & Analysis

Ascend Wellness Holdings (AAWH) announced the release of its inaugural ESG metrics for 2021, aligned with the SASB framework. The report demonstrates commitments to eight UN Sustainable Development Goals, focusing on social justice, diversity, and sustainable practices. Key initiatives include establishing employee resource groups, launching the Ascend Foundation, and implementing biodegradable packaging. The company aims to enhance transparency through gender and ethnic diversity disclosure. These efforts reflect AWH's commitment to fostering an inclusive and environmentally conscious corporate culture.

Ascend Wellness Holdings (AAWH) reported Q4 2021 net revenue of $88.5 million, a 63.0% year-over-year increase but a 6.2% decrease quarter-over-quarter. Full year 2021 net revenue rose 131.3% to $332.4 million. Despite record sales, the company faced a net loss of $16.5 million in Q4, worsening from $13.0 million in Q3. Adjusted EBITDA was $19.8 million, a decrease of 16.0% from Q3 but up 82.8% year-over-year. The company ended Q4 with $155.5 million in cash. AWH achieved significant milestones, including opening new dispensaries and expanding cultivation capacity.

Ascend Wellness Holdings (AAWH) has launched Simply Herb, a value cannabis brand aimed at providing affordable options for consumers in Illinois, Massachusetts, and Michigan. This new brand targets the 25% of industry sales attributed to value products, offering accessible cannabis without compromising quality. Simply Herb includes various product formats like flower and pre-rolls, available in 7g, 14g, and 1lb sizes. Retail activations will enhance brand visibility, expected to boost AWH’s market presence and cater to cost-conscious consumers.

Ascend Wellness Holdings, Inc. has promoted co-founder Frank Perullo to President, effective immediately. Perullo will manage the day-to-day operations with Retail, Sales, Marketing, and Operations departments reporting to him. This strategic move aims to support AWH's growth and expansion plans in 2022, enhancing the company’s brand portfolio and retail footprint. CEO Abner Kurtin remains at the helm, overseeing M&A and capital allocation. AWH operates in multiple states, producing award-winning cannabis products, with a commitment to bettering lives through cannabis.

Ascend Wellness Holdings, Inc. (CSE: AAWH.U, OTCQX: AAWH) has announced a conference call scheduled for March 8, 2022, at 5:00 PM ET to discuss its fourth quarter and full year 2021 financial results. This call will follow the release of the financial results after market close. Interested parties can join the call by dialing 1 (888) 390-0605 with the conference ID 89101163, or they can access a live audio webcast via the company's investor relations website. A replay of the call will be available until March 15, 2022.

Ascend Wellness Holdings, Inc. (AAWH) has filed a lawsuit against MedMen NY, Inc. and MM Enterprises USA, LLC in the New York Supreme Court. The company seeks injunctive relief to compel the closing of transactions outlined in an Investment Agreement with MedMen. AWH requests a preliminary injunction to maintain the status quo and prevent any actions that could further encumber MedMen's assets. This legal action underscores AWH's commitment to finalize the anticipated investment, vital for its business growth.

Ascend Wellness Holdings (AAWH) has announced its participation in two significant upcoming virtual events. The Needham 24th Annual Growth Conference will occur on January 10, 2022, featuring CEO Abner Kurtin in a fireside chat from 8:30 a.m. to 9:10 a.m. ET. Additionally, the ATB 10th Annual Institutional Investor Conference will be held from January 11 to 13, 2022, with Kurtin joining a panel discussion on Brand Building and Leadership at 9 a.m. ET on January 13.

Ascend Wellness Holdings (AAWH) announced full regulatory approval to transfer a license but claims MedMen is violating their investment agreement by not closing the transaction. MedMen attempted to terminate the agreement, citing a lack of regulatory approval, which AWH disputes. They emphasize the need for MedMen to fulfill its commitments, ensuring continuity in New York's medical cannabis program. AWH is committed to collaborating with state regulators to enhance patient access to cannabis.

Ascend Wellness Holdings (CSE: AAWH.U) announced the completion of its acquisition of two cannabis dispensaries in Chicago and Chicago Ridge, Illinois. This expansion marks the company’s seventh and eighth retail locations in Illinois, improving access to premium cannabis products. The Archer Avenue dispensary is near Midway Airport, while the Ridgeland Avenue store is close to the Chicago Ridge Mall. Additionally, Ascend has begun planting in a new greenhouse at its Barry, Illinois cultivation facility, expanding its growing capacity by adding 55,000 sq. ft. of canopy.