Jushi Hldgs Stock Price, News & Analysis

Jushi Holdings announced its participation in several upcoming cannabis conferences. On September 7, Chief Commercial Director Trent Woloveck will engage in a fireside chat at Needham’s Annual Virtual Cannabis Conference. The Benzinga Cannabis Capital Conference will feature key discussions from September 13-14, led by Olivier Blechner and Trent Woloveck. Additionally, Jushi will participate in the Wolfe Research Consumer Conference on September 22-23 and MJ Unpacked from September 28-30. These events highlight Jushi's commitment to engaging with investors and showcasing its cannabis industry leadership.

Jushi Holdings reported Q2 2022 revenue of $72.8 million, marking a 52.4% year-over-year increase and 17.6% quarter-over-quarter growth. Retail revenue grew 16.1% to $67.3 million, while wholesale rose 42.1% to $5.5 million. The company achieved a net income of $12.1 million and adjusted EBITDA of $0.5 million. Jushi continued expansion with the acquisition of NuLeaf and opened multiple retail locations, including its fifth vertically integrated operation in Ohio. Cash and equivalents stood at $43.2 million.

Jushi Holdings Inc. announced the opening of its fourth medical cannabis dispensary, Beyond Hello™ Fairfax, in Virginia and its 35th retail location nationwide. This new store will serve patients starting August 31, 2022, offering both in-store and online shopping experiences. The dispensary is strategically located to enhance accessibility, featuring a large facility with multiple checkouts and ample parking. Jushi aims to improve patient access in the region and plans to expand further in Virginia, following the recent opening of Beyond Hello™ Alexandria.

Jushi Holdings, a vertically integrated cannabis operator, announced that Kim Eastman, VP of Manufacturing, will speak at the Cannabis Conference in Las Vegas on August 23, 2022. The panel discussion, titled “How to Build Out and Set Up an Extraction Facility”, is scheduled for 10:00 a.m. PT. Interested participants can register for the event through the provided link. Jushi aims to expand its multi-state cannabis portfolio through strategic acquisitions and high-quality product offerings, maximizing shareholder value in the process.

Jushi Holdings Inc. announced the opening of its third Beyond Hello™ dispensary in Virginia on July 27, 2022. This location enhances accessibility to medical cannabis for patients, following a significant policy change on July 1 that removed the need for patient registration with the Virginia Board of Pharmacy. The 9,600 square-foot store features advanced checkouts and ample parking to accommodate patient needs. Jushi also reported a 2.3x increase in patient sign-ups since the policy change, indicating a potential boost in customer acquisition and sales.

Jushi Holdings announced the resignation of Ed Kremer as Chief Financial Officer, effective July 12, 2022, to join a competing cannabis operator. The company will enforce a 12-month non-compete clause. Jon Barack, President and Founder, will serve as interim CFO, with James Cabral promoted to Chief Accounting Executive. The leadership transitions are positioned to ensure continuity as Jushi seeks a qualified CFO to support expansion initiatives. The company clarified that Kremer's departure was not due to financial issues or disputes.

Jushi Holdings announced the grand reopening of its Beyond Hello™ Palm Springs retail location on July 13, 2022. The redesigned store showcases a desert-inspired aesthetic and offers a wide selection of California cannabis brands and artisan products. This location features an art exhibit by award-winning photographer Dre Neumann and aims to provide an elevated retail experience for cannabis consumers. Operating from 9:00 a.m. to 9:00 p.m. daily, the store emphasizes exceptional customer service and accessibility, with 12 point-of-sale systems and ample parking.

Jushi Holdings has launched its first line of hydrocarbon-extracted concentrates under the award-winning brand The Lab™. These products, known as The Lab™ Live Resin, feature high purity and a full spectrum of cannabinoids, maintaining approximately 90% of the cannabis plant’s original cannabinoids. Initially available at Beyond Hello™ locations in Pennsylvania, the company is set to expand to other states like Massachusetts, Virginia, and Nevada. The cannabis extract market is projected to grow from US$9.24B in 2021 to US$42.89B by 2030.

Jushi Holdings has announced the Commonwealth Court of Pennsylvania's decision to grant Medical Marijuana Access & Patient Safety, Inc. (MMAPS) the ability to vacate an automatic stay of injunctive relief. This allows certain vaporized medical marijuana products to return to the market after the Pennsylvania Department of Health's recall. The court found no evidence of harm related to the recalled products and emphasized their rigorous safety testing. The decision supports patient access to effective medical marijuana, marking a significant win for the community.