Author: Doug Kass

Verano Holdings may possess the most favorable risk/reward proposition in the cannabis space.

This morning the company declared a 1-5  reverse split (in order to qualify for NYSE or NASDAQ listing!).  Verano Announces 1-for-5 Reverse Stock Split to Prepare the

“When effected, the Reverse Stock Split will reduce Verano’s total issued and outstanding shares of common stock and is expected to deliver an increase in the price per share. Management also believes the Reverse Stock Split may provide additional benefits, including increasing institutional investor interest and access as the Company pursues uplisting on a U.S. exchange in the future.”

More:

The history of price action has not been kind to the companies in this sector.

If Verano is doing a 1-5 and the share price to maintain is $4-$5 to meet exchange requirements. I would have to assume they are expecting some kind of positive catalysts in the short term. $MSOS

— Anthony Varrell (@V_arrell) June 1, 2026

This is starting to sound like Congress doesn’t need to pass SAFE… the theory grows. https://t.co/Ld2xREb6jC

— Anthony (@Anthonys_Takes) June 1, 2026

Positions: Long VRNO S 

Upside:

-EWTX +33% (sells sevasemten and muscular dystrophy business to Servier for up to $2.65B)
-SPCE +24% (momentum)
-TMHC +22% (to be acquired by Berkshire Hathaway for $72.50/share which equates to an equity value of $6.8B in cash and EV of $8.5B)
-MGM +15% (Barry Diller’s business empire, People Inc., said to be planning to bid $48.30/shr in cash for the 73.9% of MGM Resorts that it doesn’t already own, valued at $18B)
-IBM +9.4% (higher off re-circulation of video showing President Trump mentioning company)
-CDNS +7.6% (advances ChipStack AI Super Agent to Level-5 autonomy)
-VAC +4.8% (hearing Goldman Sachs Raised VAC to Buy from Sell, price target: $100)
-MSFT +3.8% (Microsoft and Nvidia are expected to unveil the first Windows computer powered by chips from Nvidia)
-HUM +3.6% (affirms FY26 guidance)
-EQNR +3.2% (Chair to resign; To nominate Jarle Roth as new Board chair)
-RVMD +2.8% (Oppenheimer Reiterates RVMD with Outperform, price target: $195 from $165)
-NVDA +2.3% (Microsoft and Nvidia are expected to unveil the first Windows computer powered by chips from Nvidia ; Hearing added to ‘Best of Breed’ list at Davidson)

Downside:

-OCS -30% (Phase 3 DIAMOND-1 and DIAMOND-2 results did NOT meet primary endpoints)
-QCOM -7.5% (weakness following NVDA launching PC chip)
-RDW -6.9% (Jefferies Cuts RDW to Hold from Buy)
-INTC -5.9% (weakness following NVDA launching PC chip)
-MSTR -5.2% (sold 32 BTC for $2.5M during May 26-31st at an average sale price of $77,135)
-AMD -3.9% (weakness following NVDA launching PC chip)
-ASTS -3.7% (hearing Deutsche Bank Cuts ASTS to Hold from Buy, price target: $106)

Equity futures reverse lower on news that Iran has stopped message exchanges with the U.S. as a result of Israel’s actions against Lebanon.

Positions: None 

Positions: None.

Positions: None.

Treasury Auctions

11:30 a.m.: Treasury hosts an $89B 3 and a $77B 6-Month Bill Auction

Economic Calendar for the Week

Positions: None.

I will have a new market update on Wednesday morning.

Working on it now.

Position: None

FUN FACT 🚨: The Stock Market has never peaked in June https://t.co/FTEPUSUX61 pic.twitter.com/iCs6nQs3jQ

— Barchart (@Barchart) June 1, 2026

Position: None

Call For Dispatch

Position: None

This is incredible:

AI-related companies have issued ~$140 billion in investment-grade bonds year-to-date, accounting for 49% of the total IG issuance.

AI-related companies have also attracted ~$220 billion in venture capital funding year-to-date, making up 87% of the total.… pic.twitter.com/dppFGbumH9

— The Kobeissi Letter (@KobeissiLetter) June 1, 2026

Position: None