This is a quick post to highlight that sentiment from Wall Street is materially different between the LPs and MSOs. While obvious, I thought it might be helpful to visualize the difference.

Looking at the LPs, APHA single-handedly accounts for the Buy ratings, coming in at 92.3% vs the group average of just 33.4% (skewed higher by APHA).

On the other side of the ledger, the MSOs have nearly all Buy ratings, with the exception of a few Hold ratings.

Licensed Producer TTM Coverage

Multi-State Operator TTM Coverage