VANCOUVER, British Columbia and ORLANDO, Fla. - Village Farms International, Inc. (NASDAQ: NASDAQ:VFF) has announced that it has regained compliance with Nasdaq's minimum bid price requirement.
The agricultural company, which specializes in controlled environment farming and is expanding into cannabis and CBD markets, received formal notice from The Nasdaq Stock Market LLC that it now meets the minimum closing bid price of US$1.00 per share, closing the matter.
The company, known for its large-scale greenhouse operations and as a supplier of fresh produce, also operates one of the world's single largest cannabis operations through its wholly-owned Canadian subsidiary, Pure Sunfarms. Additionally, Village Farms holds a 70% stake in Rose LifeScience, a cannabis commercialization expert in Québec, and owns Balanced Health Botanicals, a leading CBD brand in the United States.
Village Farms is exploring opportunities in the high-THC cannabis market in the U.S., subject to regulatory compliance, and is also targeting emerging legal cannabis and CBD markets internationally, with an initial focus on the Asia-Pacific region and Europe. In the Netherlands, it is the only North American company to hold one of ten cannabis licenses.
The company's recent compliance achievement follows a series of strategic moves aimed at expanding its presence in high-value, high-growth plant-based consumer packaged goods. This includes leveraging its expertise in controlled environment agriculture to enter new markets and capitalize on the growing demand for cannabis and CBD products.
The information in this article is based on a press release statement from Village Farms International, Inc.
InvestingPro Insights
Village Farms International's recent compliance with Nasdaq's minimum bid price requirement marks a positive turn for the company's stock performance. According to the latest data from InvestingPro, Village Farms is trading at a low Price / Book multiple of just 0.45, suggesting that the market may be undervaluing the company's assets relative to its share price.
Despite the challenges faced over the last year, the company has shown strong returns, with a 64.1% one-year price total return. This resilience is particularly noteworthy given that analysts do not anticipate the company will be profitable this year, as reflected in a negative P/E ratio of -4.45 for the last twelve months as of Q1 2023.
InvestingPro Tips for Village Farms highlight the stock's volatility, with significant price movements in both directions over various timeframes. The stock has seen a large price uptick over the last six months, with a 70.51% total return, and an impressive one-month price total return of 78.27%. These figures underscore the company's potential for short-term gains, though investors should be mindful of the stock's volatility.
For those looking to delve deeper into Village Farms' financials and future outlook, additional InvestingPro Tips are available. There are 11 more tips listed on InvestingPro, which can provide further guidance on the company's performance and potential investment opportunities. Interested readers can enhance their investment strategy by using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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