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Village Farms (VFF) was one of the hottest cannabis stocks and the stock was up more than 500% at one point in 2019. Since then, the stock has also dropped amid a fierce selloff in the pot sector and scared investors. On the balance of its execution and valuation, we rate VFF neutral at this stage and believe upcoming catalysts include conversion of a second greenhouse and continued ramping up after Pure Sunfarms JV reached full production.