CA - Ascend Wellness Is A Buy At A Better Price
2024-05-26 09:08:09 ET
Summary
- Ascend Wellness reported solid Q1 financials, exceeding revenue and adjusted EBITDA expectations.
- Analysts have increased their outlook for Ascend's revenue and adjusted EBITDA growth in 2024 and 2025.
- The stock has experienced a significant decline but shows potential for growth based on its chart and valuation compared to peers.
Ascend Wellness ( OTCQX:AAWH ), still up a bit in 2024, is down a lot this month. I wrote it about it at the end of March, suggesting it was cheap then and rating it a Buy. Since then, the company delivered a solid Q1 report and progress has been made on cannabis rescheduling. I still like the stock, down 14.3% since I called it out. It is a large position in my Beat the Global Cannabis Stock Index at 10.0%, and it is nearly maxed-out in my Beat the American Cannabis Operator Index at 24.3%, one of five positions....
Ascend Wellness Is A Buy At A Better Price