Zuanic & Associates

Company history

Pablo Zuanic, an equity analyst whose prior employers include J.P. Morgan, Barings and Cantor Fitzgerald, set up the firm in March 2023; Cantor then dropped coverage of 23 cannabis companies. The firm launched its institutional research service on 18 July 2023, publishing thematic reports before initiating stock coverage. It also offers consulting and research advisory services.

1. 2023Founded by Pablo Zuanic after leaving Cantor Fitzgerald
2. 2023Launches institutional cannabis equity research service

Research

The firm publishes thematic sector research and company coverage spanning U.S. multi-state operators, Canadian licensed producers, CBD and hemp, vape hardware, cannabis lenders and REITs, and international operators. Its November 2025 coverage table rated about 20 companies, most Overweight and the rest Neutral, and listed others as not rated or pending coverage.

Activity24M

Most covered24M

Stock	Rating	Target	Actions	Last action
AFCGAdvanced Flower Capital Inc.	Neutral	—	1	Jun 13
REFIChicago Atlantic Real Estate Finance, Inc.	Overweight	—	1	Dec 9
VFFVillage Farms International, Inc.	Overweight	—	1	Apr 30

Recent actions

Stock	Rating action	Rating	Date
Advanced Flower Capital Inc.AFCG	Downgrade	Overweight →Neutral	Jun 13, 2025
Village Farms International, Inc.VFF	Reiterate	Overweight	Apr 30, 2025
Chicago Atlantic Real Estate Finance, Inc.REFI	Reiterate	Overweight	Dec 9, 2024

References

1. Zuanic & Associateszuanicassociates.com
2. Pablo Zuanic - Zuanic & Associateszuanicassociates.com
3. Pablo Zuanic - LinkedInlinkedin.com
4. Cantor Fitzgerald discontinues cannabis stock coverage with analyst departure - MarketWatchmarketwatch.com
5. Cannabis: Coverage Update - Zuanic & Associates (November 2025)zuanic.worldflowconnect.net
6. A SAFE Roadmap - Zuanic & Associates (2023)zuanic.worldflowconnect.net