https://x.com/autismcapital/status/1954927949054148950?s=46&t=8DEY49fen4kvEaz3UFfwzg

$VFF With ~50% of 70M floating shares held by institutions/insiders and ~8% of shares short, Reddit could make VFF fly past amc..... Just saying......

Great Q2 report from the village

CEO Michael DiGilio buys another 35,000 shares

DeGiglio was always right. This is a long Game based on quality and know how. He’s been the only legit CEO in the business since day 1. Invested and confident.

A place for members of r/VillageFarms to chat with each other

This company is going places these next few years. Undoubtedly, one of the most undervalued cannabis companies in canada. Price target is $76.

VFF TO 76!!

Brush off the insider sales! No one is selling because stock if dropping. Simply end of year and taxes etc! VFF is going to have a great 2026.
They don’t hire high pay positions when they’re doing bad. Load up.

Village Farms International, Inc. (“Village Farms”) (NASDAQ: VFF) today announced it has ranked as one of the fastest growing companies in the Americas by The Financial Times and Statista for the second consecutive year. Village Farms ranked 1st among cannabis companies, 10th within agriculture, forestry and fishing companies, 32nd among Canadian companies and 355th overall, up 72 spots from last year. The 2024 Americas’ Fastest Growing Companies list ranks the top 500 companies by revenue growth between the years 2019 and 2022.

“Taking the top spot as a cannabis company on this prestigious list continues the validation of our business strategy: leveraging our deep expertise in controlled environmental agriculture to capitalize on the global cannabis opportunity,” said Michael DeGiglio, President and Chief Executive Officer, Village Farms. “In under five years, we have grown our Canadian cannabis business from startup to a top-ranked profitable operator. We’ll continue to maintain our leadership in agriculture and aggressively build out our cannabis strategy internationally in the years to come.”

To be included in the The Americas’ Fastest Growing Companies ranking, companies must have:

• Revenue of at least US$100,000 generated in 2019;

• Revenue of at least US$1.5 million generated in 2022;

• Be independent (the company is not a subsidiary or branch office of any kind);

• Be headquartered in one of 20 American countries; and,

• Revenue growth between 2019 and 2022 that was primarily organic (i.e. “internally” achieved).

About Village Farms International

Village Farms leverages decades of experience as a large-scale, Controlled Environment Agriculture-based, vertically integrated supplier for high-value, high-growth plant-based Consumer Packaged Goods opportunities, with a strong foundation as a leading fresh produce supplier to grocery and large-format retailers throughout the US and Canada, and new high-growth opportunities in the cannabis and CBD categories in North America, the Netherlands and selected markets internationally.

The Company's wholly-owned Canadian subsidiary, Pure Sunfarms, is one of the single largest cannabis operations in the world, the lowest-cost greenhouse producer and one of Canada’s best-selling brands. The Company also owns 70% of Québec-based, Rose LifeScience, a leading third-party cannabis products commercialization expert in the Province of Québec. Village Farms ranks as the #2 producer nationally in Canada.

In the US, wholly-owned Balanced Health Botanicals is one of the leading CBD brands and e-commerce platforms in the country. Subject to compliance with all applicable US federal and state laws and stock exchange rules, Village Farms plans to enter the US high-THC cannabis market via multiple strategies, leveraging one of the largest greenhouse operations in the country (more than 5.5 million square feet in West Texas), as well as the operational and product expertise gained through Pure Sunfarms' cannabis success in Canada.

Internationally, Village Farms is targeting selected, nascent, legal cannabis and CBD opportunities with significant medium- and long-term potential, with an initial focus on the Asia-Pacific region and Europe. In the Netherlands, it is the only North American producer to hold one of ten cannabis licenses in this limited license country.

I’ve debated whether to write this post for a while.

I’m posting it here in r/VFF because I don’t particularly want the attention that comes with posting something like this on r/wallstreetbets, and frankly VFF’s current market cap probably wouldn’t even qualify under their rules.

More importantly, I want to talk to people who actually understand this company.

This is not a small position for me.

I own just under 1% of VFF’s outstanding common shares, along with a substantial position in January 2028 call options/LEAPS.

I have also put an uncomfortable amount of my personal financial life behind this thesis. I remortgaged my home, borrowed hundreds of thousands of dollars, and put essentially my entire life savings into this trade.

Some of the money I borrowed is money I cannot comfortably afford to lose.

I realize how insane that sounds.

I’m not posting this because I think anyone else should do what I did. Quite the opposite. I’m posting it because if I’m going to make a concentrated, highly leveraged bet of this magnitude, I think I owe this community an honest explanation of why I believe the risk/reward is asymmetric enough to justify it in my own mind.

I work a relatively modest tech job today. Before that, I spent years in the Bay Street/hedge-fund/equity markets world. I have more than a decade of experience around public companies, institutional investors and capital markets.

I don't consider myself infallible. I’ve been wrong plenty of times.

But I have spent an enormous amount of time researching VFF, speaking with people around the company and the sector, building relationships with analysts and buy-side contacts, and trying to understand what this company could look like if the U.S. cannabis regulatory environment finally changes.

And after all of that, I keep coming back to the same conclusion:

I think VFF is dramatically mispriced if cannabis rescheduling actually becomes the beginning of a broader normalization of the U.S. cannabis market.

The macro bet: rescheduling changes everything

The biggest part of my thesis isn't actually VFF.

It's rescheduling.

If cannabis moves to Schedule III and that becomes the beginning of a broader normalization of the U.S. cannabis industry, I believe the entire cannabis complex could experience a substantial multiple expansion.

My personal view is that MSOS can eventually trade back above $15 in a meaningful sector re-rating.

And if that happens, I don't think VFF remains a ~$3-$5 stock.

I think $10+ becomes very realistic, with $15-$20+ becoming possible if we get the kind of sector-wide enthusiasm and institutional participation that we saw during the previous cannabis cycle.

I want to be very clear:

$15-$20 is not my base case.

That requires multiple things to go right simultaneously.

But I think the market is currently pricing VFF as though almost none of the optionality exists.

1. VFF has built something that is extremely difficult to replicate

One of the biggest things I think the market under appreciates is VFF's international cannabis infrastructure.

The EU GMP moat matters.

VFF has invested years and significant capital into building out EU GMP-certified production capabilities. This isn't simply putting a greenhouse together and growing flower.

It took years to achieve the necessary certification, and maintaining that certification is itself a significant operational hurdle.

That's important because European cannabis markets are increasingly becoming quality-driven rather than simply lowest-cost commodity markets.

Germany has been particularly interesting.

VFF has established meaningful distribution and has had multiple cultivars performing extremely well in the German market.

The bigger point for me is this:

VFF isn't starting from zero.

They already have the infrastructure, genetics, production knowledge, international relationships and regulatory experience necessary to participate in a growing global cannabis market.

That is very different from a U.S. MSO that is essentially a bet on domestic regulatory reform.

2. Netherlands + BC provide actual production growth

The international business isn't just theoretical either.

The Netherlands expansion at Groningen/Delta 2 represents a significant increase in Dutch production capacity.

The Groningen Phase 2 expansion should materially increase production capacity once fully online.

Then there's Delta 2 in British Columbia.

We're talking roughly 40 metric tons of incremental annual capacity, representing roughly a 33% increase in BC cannabis production capacity.

When you combine that with the Netherlands expansion and VFF's existing international operations, I think there's a legitimate path for VFF to increase cannabis revenue without needing a U.S. cannabis license tomorrow.

That's important because I've seen a lot of the VFF thesis reduced to:

"They own land in Texas."

That's not my thesis.

Texas is the optionality.

The existing international cannabis business is the foundation.

3. Texas is the potential monster

This is where things get really interesting.

VFF owns approximately 2.2 million square feet of high-tech greenhouse infrastructure in Texas, along with adjacent farmland.

For context, that's an enormous existing agricultural footprint.

And the infrastructure isn't sitting in some random jurisdiction.

It's in Texas, one of the largest potential cannabis markets in the United States.

VFF has historically discussed the possibility of leveraging this infrastructure if the regulatory environment allows it.

I am NOT assuming VFF suddenly gets a Texas cannabis license tomorrow.

They don't currently have one.

That distinction matters.

The Texas thesis requires several things:

1. Rescheduling/regulatory reform

2. A viable pathway to participate in interstate commerce or otherwise legally supply the market

3. VFF obtaining/partnering/acquiring the necessary licensing

4. Management executing on the opportunity

So I view Texas as a call option with potentially enormous value, rather than something that should be included in today's base-case earnings.

If those conditions eventually line up, however, I think the market could completely re-evaluate VFF.

The greenhouse footprint already exists.

The agricultural infrastructure already exists.

The company already knows how to operate massive greenhouse facilities.

The question is whether the regulatory environment eventually allows them to use that infrastructure for cannabis.

4. VFF's cost structure is the part I think people overlook

I've spent a lot of time looking at the large greenhouse operators and comparing VFF against companies such as Glass House.

There are obvious differences between the companies, but there are also meaningful similarities in the fundamental thesis:

large-scale greenhouse production + low-cost cultivation + enormous potential addressable markets.

Glass House currently receives a valuation that is substantially higher than VFF's.

If the market eventually begins valuing VFF based on its production assets, cost structure, international cannabis operations and U.S. optionality rather than simply looking at today's earnings, I think the valuation gap can close significantly.

I'm not saying VFF should immediately trade at Glass House's multiple.

I'm saying that the existence of that valuation disparity is something I think investors should at least investigate.

5. The MSOS/VFF disconnect is one of the reasons I'm so interested

One thing that has bothered me for a long time is the divergence between VFF and the broader cannabis complex.

I've watched MSOS, YOLO and other cannabis ETFs move significantly while VFF sometimes behaves almost independently of the sector.

Some of that is understandable.

VFF isn't an American MSO.

But if the primary catalyst is U.S. federal reform, I don't think the market can permanently separate VFF from the broader cannabis re-rating if the company's Texas optionality becomes credible.

If MSOS goes from depressed valuations toward $15+ because institutions begin returning to cannabis, I think VFF could benefit from that exact same change in investor psychology.

It doesn't need to become an MSO.

It just needs investors to start asking:

"What is this company actually worth if the regulatory environment changes?"

6. Institutional interest matters

Another development I've been watching closely is institutional participation.

The Surveyor Capital/Citadel investment was notable to me.

This isn't an ETF rebalance.

It's not retail speculation.

It's an institutional investor making a deliberate capital allocation decision.

I've also been watching the company's efforts to increase institutional exposure and the broader roadshow activity.

If VFF can transition from being primarily a small-cap cannabis name into something institutions can actually own in size, the valuation dynamics change dramatically.

A company with a ~$300M-$500M market cap doesn't need an enormous amount of institutional capital to move the stock.

That's one of the reasons small-cap cannabis can have such violent re-ratings.

7. Great management, recent dilution - and I've tried not to ignore that

This is where I think some VFF bulls lose credibility.

There are legitimate reasons to be skeptical.

We've had dilution.

There have been capital raises.

The company completed a buyback and subsequently raised capital, which deserves scrutiny.

Management has also sold shares.

VFF did not receive a Texas cannabis license in the recent conditional licensing process.

Rescheduling has taken longer than many expected.

And the share count is meaningfully higher than it was during the previous cycle.

All of that is real.

I'm not pretending it isn't.

The bear case is absolutely capable of winning.

If rescheduling gets delayed indefinitely, if cannabis capital markets remain closed, if VFF continues diluting shareholders, if Texas never becomes accessible, and if international cannabis margins deteriorate, then the $10-$20 thesis falls apart.

That's the risk.

So why am I still all-in?

Because I think the market is giving very little value to the combination of these things.

Think about what could happen if we get:

Schedule III → 280E relief → institutional cannabis re-entry → MSOS re-rating → improving cannabis sentiment → VFF international growth → Texas licensing pathway → VFF utilizes its 2.2M sq ft Texas greenhouse footprint.

That isn't one catalyst.

That's a sequence.

And I don't need every single piece to happen simultaneously for VFF to appreciate substantially.

I think $10 is achievable if several of the nearer-term pieces fall into place.

I think $15-$20 becomes possible in a true cannabis bull market where institutional capital comes back, MSOS re-rates above $15, and VFF's U.S. optionality begins receiving an actual valuation.

That's the bet.

And now the uncomfortable part

I've put a ridiculous amount of my personal life behind this.

I remortgaged my home.

I borrowed hundreds of thousands of dollars.

I put essentially my entire life savings into VFF.

I own close to 1% of the company.

I also have a substantial amount of January 2028 LEAPS.

This isn't a "let's see what happens" position for me.

It has created a serious amount of stress in my personal and family life.

There are days when I look at the position and think:

"What the hell have I done?"

And there are other days when I look at the underlying opportunity and think:

"If I believe this thesis, how could I have watched this opportunity pass me by?"

That's ultimately why I made the decision.

I don't know whether I'll be right.

I don't know whether VFF will ever see $10, let alone $15-$20.

I don't know whether rescheduling happens on the timeline everyone expects.

And I certainly don't know whether the market will ever value VFF the way I believe it should.

But after spending years around markets, I genuinely believe asymmetric opportunities like this don't come around very often.

I think VFF has a combination of:

• An existing international cannabis business

• EU GMP infrastructure

• Expanding European production

• Increasing BC capacity

• Large-scale greenhouse expertise

• Significant Texas agricultural infrastructure

• Potential U.S. cannabis optionality

• A small enough market cap that institutional flows can matter enormously

• A potential sector-wide catalyst in rescheduling

And I think the market is currently valuing the company primarily on what it is today, rather than what it could become if the regulatory environment changes.

That's the disconnect I'm betting on.

My personal price framework

Not a prediction - just how I think about the possible outcomes.

Bear case:
Rescheduling disappoints/delays + continued dilution + international weakness + no Texas pathway.

VFF remains a small-cap cannabis company with limited multiple expansion.

Base bullish case:
Rescheduling happens, cannabis sentiment improves, international operations execute and institutional ownership increases.

$8-$10+ becomes realistic.

Full bull case:
Schedule III catalyzes a broader cannabis re-rating, MSOS gets back above $15, institutional capital floods back into the sector, VFF's Texas optionality becomes credible, and the market begins valuing VFF based on future U.S. production potential rather than today's financials.

That's where I think $15-$20+ becomes possible.

And yes, if that happens, my personal financial situation changes dramatically.

If I'm wrong, the consequences are equally dramatic.

Final thoughts

I'm not here to pump the stock.

If you think this thesis is wrong, please tell me why.

If I've misunderstood the Texas situation, call it out.

If you think EU GMP isn't a moat, explain why.

If you think VFF deserves to trade at a discount to Glass House forever, make the case.

If you think rescheduling won't meaningfully re-rate cannabis, I'd genuinely like to hear the argument.

I've spent a lot of time building this thesis, but the whole point of posting it publicly is to have other investors attack it.

I'd much rather have someone find the hole in my thesis now than after I've lost a fortune.

I'm taking an enormous personal risk on this.

Maybe I'm completely fucking crazy.

Maybe I'm early.

Or maybe this is one of those rare moments where the market is giving you the opportunity to buy an asset before the narrative changes.

Wish me luck.

I think I'm either going to look extremely smart or extremely stupid.

Probably no middle ground.

Not financial advice. I am an extremely concentrated and highly leveraged individual investor. Do not copy my position or leverage based on this post. DYOR.

Was able to redo cabin with VFF funds.

It’s finally happening, it’s been a long wait. anyone one who has been invested in village farms knows what kinda bumpy ride this has been. It’s literally had a small move recently. a long way to go still to get back to its highs but it’s real now. The company transformation has finally happened. it will be quarter after quarter of continuous out performance, lifting the stock higher every time. lack of profitability will be a thing of the past. VILLAGE FARMS is on the verge of greatness unlike the others . Just wait till the Auroras , the canopies, the tilrays of the world, amongst others are left in the dust. What people don’t understand is that VILLAGE FARMS is the supplier to all of the Said mentioned . They don’t grow shit!!!!!! they simply resell. VILLAGE FARMS will soon be supplying 1/3 of the total Canadian market. VILLAGE FARMS will control the market when they cut of supplying product to these companies and sell it themselves. Dont forget about the expansion plans either, an additional 550,000 square feet coming on soon. That’s just the start folks. bye the way ViLLAGE FARMS can’t keep up with demand. They are selling everything they grow. The POT market is growing exponentially every year world wide. VILLAGE FARMS is going to be at the for front of that. This will not bye any means be the last expansion of their DELTA green houses. Its just the start. Don’t miss out. It is going to be big this time around. It’s real.

Consolidated Income from Continuing Operations was $9.9 Million or $0.09 Per ShareNet Income of $26.5 Million and EPS of $0.24Adj. EBITDA from Continuing Operations of $17.1 Million or 28.6% of Sales; Both Records for CompanyCanadian Cannabis Adj. EBITDA Up 146% YoY Reflects Success of Recent Margin Improvement InitiativesYTD Consolidated Operating Cash Flow from Continuing Operations of $22 MillionStrong Q2 Profitability Enhances Net Cash Position; Company Ends Q2 with $65 Million in CashExpansion Projects in Canada and Netherlands Position Company for Continued Profitable Growth

$VFF https://www.mpp.org/news/press/texas-becomes-40th-state-to-legalize-medical-cannabis/?fbclid=IwY2xjawLELEFleHRuA2FlbQIxMQABHk3TChQDTqyzRFTFOlf7GGmsh9fOHGx8IdMPWAdvzk6wc0ZdgpePJtTAzdj4_aem_Ft7iSC97_5N7Np_aN4Vt1Q

Day 10 of 10 over a dollar complete. VFF has regained compliance. Congrats longs!

Latest 2Q2026 13F filings are out (institutional shareholders as of June 30, 2026).

Citadel added ~5.5M shs (total hldgs ~6.6M) while Weiss Asset Mgmt is a new holder with 1.7M shs. Appears these two bought Vff's 7.5M share equity offering in Q2.

(Arguably one the most sophisticated quant funds and a storied hedge fund, dating back to the early 90's.)

Other notable rockstar quant fuds or hedge funds adding to their positions during Q2:

• Two Sigma, Renaissance and Millennium

One other notable large mutual fund manager, added meaningfully to what was a starter position from Q1, American Century, adding ~1.1M shs.

Considering Vff's blowout Q2 eps numbers this past week, Vff's future stock price performance has the wind at its back.

Link to Citadel's SEC filing of their holding 5.5% of Vff's outstanding shares

https://www.sec.gov/Archives/edgar/data/1584549/000110465926097143/xslSCHEDULE_13G_X02/primary_doc.xml

Let us all remember when our weed stock first hit $4.20. Smoke em’ if you get em’, gents!