Verano Holdings Corp. (VRNOF) shares rallied 31.3% in the last trading session to close at $5.76. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock’s 30.4% loss over the past four weeks.
Shares seem to recover after declining for nearly a month, that led to sudden jump in share prices of Verano Holdings.
This company is expected to post quarterly loss of $0.01 per share in its upcoming report, which represents a year-over-year change of -103%. Revenues are expected to be $239.56 million, up 15.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Verano Holdings Corp., the consensus EPS estimate for the quarter has been revised 7.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on VRNOF going forward to see if this recent jump can turn into more strength down the road.
The stock currently
