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Chicago Atlantic Group, LP and its affiliates have recently increased their holdings in Vireo Growth Inc. (NASDAQ:VREO) through a series of transactions. The timing appears strategic, as InvestingPro data shows VREO has gained over 23% in the past week, though trading at $0.44, still below its 52-week high of $0.69. According to a recent SEC filing, the group acquired a total of 45,000 subordinate voting shares over two days, amounting to a total purchase value of $19,054.
On March 19, Chicago Atlantic purchased 30,000 shares at a weighted average price of $0.4197 per share. The following day, the group added another 15,000 shares at a weighted average price of $0.4309 per share. These transactions were completed at prices ranging from $0.4195 to $0.4444, as noted in the filing. The company, with annual revenue of $99.38M and a market cap of $161.57M, maintains a GOOD financial health score according to InvestingPro analysis.
The acquisitions increased Chicago Atlantic’s direct ownership to 358,522 shares. Additionally, the group holds an indirect stake of 110,362,683 shares through various affiliates. The transactions highlight Chicago Atlantic’s continued interest in Vireo Growth, a company operating in the pharmaceutical preparations sector with a moderate debt-to-equity ratio of 1.62. Get deeper insights into VREO’s valuation and growth potential with a comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Vireo Growth Inc. reported a 15.4% increase in full-year revenue, reaching $99.4 million, with fourth-quarter revenue up 3.5% to $25 million. Despite these gains, the company experienced a fourth-quarter net loss of $15.7 million, primarily due to one-time transaction expenses. The company holds a strong cash position of $91.6 million, which could support its strategic initiatives. Vireo Growth is focusing on its new cultivation facility in Minnesota and the expansion into adult-use sales, aiming for a transformative year in 2025. Additionally, the company plans to divest a portion of its New York assets, while also enhancing its premium flower production in the state. Analysts from Craig Hallum Capital Group have shown interest in the timeline for the new Minnesota facility, which is expected to be completed in 2025. The company is also preparing for mergers, with operational milestones tied to EBITDA metrics. Vireo Growth’s strategic moves and financial positioning suggest a focus on growth and expansion in the coming year.
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