Ascend Wellness Stock Price, News & Analysis

Ascend Wellness Holdings (AAWH) has completed a roll-up transaction, consolidating its ownership of Story of PA CR, LLC, a key player in Pennsylvania's medical marijuana market. Following the acquisition, Story has received a Clinical Registrant Permit, allowing it to open one cultivation facility and six dispensaries in the state. AWH will invest approximately $55 million in total consideration, including cash and shares, to support an extensive cultivation operation and contribute to clinical research alongside Geisinger Commonwealth School of Medicine, enhancing access to medical marijuana for Pennsylvania patients.

Ascend Wellness Holdings (AAWH) has announced its approval to serve adult-use consumers in New Jersey, becoming one of the first operators to enter this market. The flagship Ascend Rochelle Park dispensary will begin sales shortly, with additional locations in Montclair and Fort Lee planned. AWH currently operates two medical dispensaries and will expand its cultivation facility to 100,000 square feet by the end of 2023, anticipating a market exceeding $2 billion by 2025. The company aims to hire locally, creating jobs as demand for cannabis increases.

Ascend Wellness Holdings, Inc. (CSE: AAWH.U, OTCQX: AAWH) announced its participation in two major cannabis conferences. CEO Abner Kurtin will engage in a fireside chat at the BTIG Global Cannabis Conference on April 7 at 11:20 am ET and host one-on-one investor meetings. Additionally, Kurtin and VP of Investor Relations Rebecca Koar will meet with investors at the Benzinga Cannabis Capital Conference on April 20-21 in Miami Beach, Florida. AWH operates cultivation facilities across several states, producing award-winning cannabis products.

Miss Grass has partnered with AWH to distribute its premium cannabis products in Massachusetts and Illinois. The distribution begins today, March 22, 2022, in Massachusetts, with Illinois set to follow later this year. The collaboration aligns with Miss Grass's mission to promote conscious cannabis consumption through education. The initial product rollout includes three types of .4g Mini pre-rolls tailored for specific effects, tapping into the booming cannabis markets that generated up to $2 billion in recreational sales in 2021.

Wynk THC & Seltzer has announced its expansion into Michigan through an exclusive partnership with Ascend Wellness Holdings (AAWH). Wynk's microdose beverages, featuring a 1:1 THC and CBD ratio, are designed for both recreational and medical consumers. Available in flavors like Juicy Mango and Lime Twist, each 8.4 oz can provides a quick-acting, relaxing buzz in under fifteen minutes. As a widely distributed cannabis beverage brand, Wynk aims to cater to the growing consumer demand for cannabis beverages.

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.