If you’re looking for extreme momentum on the OTC, then you don’t have look further than MARIMED Inc/SH SH (OTCMKTS: MRMD). The stock has been positively on fire, ripping as much as 150% higher since mid-April. To push the envelope even further, the company just announced that its executives will share their expertise on successfully securing real estate for cannabis businesses at the New England Real Estate Journal’s (NEREJ) 2018 Cannabis & Commercial Real Estate (CRE Summit.
According to the release, “MariMed CEO Robert Fireman, CFO Jon Levine and COO Tim Shaw will provide real experiences gained from developing marijuana cultivation, production and dispensary facilities in six states and decades of collective executive experience in commercial real estate at The Summit’s two panels. The Cannabis & CRE Summit is 9:30 a.m. to noon, Wednesday, June 13 at the Boston Convention and Exhibition Center, 415 Summer St., Boston. The Summit runs concurrently in the same location with the New England Builders and Facilities Management (NEBFM ’18) Conference.”
MARIMED Inc/SH SH (OTCMKTS: MRMD) is an industry leader in the design, development, operation, funding, and optimization of medical cannabis cultivation, production, and dispensary facilities. MariMed’s team has developed state-of-the-art, regulatory-compliant legal cannabis facilities in multiple states.
These facilities are models of excellence in horticultural principals, cannabis production, product development, and dispensary operations. MariMed is on the forefront of precision dosed cannabis medicine for the treatment of specific medical conditions. MariMed branded products are being licensed and distributed in legal cannabis states across the country.
We have licensed Tikun Olam world renown Israeli cannabis genetics with 5 years of clinical data for our Delaware managed facility.
Moreover, MariMed Inc. provides consulting services for the design, development, operation, funding, and optimization of medical cannabis cultivation, production, and dispensary facilities. The company also develops and manages facilities for the cultivation, production, and dispensing of legal cannabis and cannabis-infused products under the Kalm Fusion brand name. In addition, it offers legal, accounting, human resources, and other corporate and administrative services.
As of December 31, 2017, it developed and managed six operating cannabis facilities for clients in Delaware, Illinois, Nevada, and Maryland. MariMed Inc. was incorporated in 2011 and is based in Newton, Massachusetts.
According to company materials, “MariMed designs, develops, finances, and optimizes the success of medical cannabis cultivation, production, and dispensary facilities through its validated management. MariMed’s team has developed or is in the process of developing state-of-the-art regulatory-compliant facilities in DE, IL, NV, MD, MA, and RI. These facilities are models of excellence in horticultural principals, cannabis production, product development, and dispensary operations. In addition, MariMed is on the forefront of precision dosed branded products for the treatment of specific medical symptoms. MariMed currently distributes its branded products in select states and is expanding licensing and distribution to numerous additional states encompassing thousands of dispensaries.”
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We’ve witnessed 68% added to share values of the stock over the past month of action.
Furthermore, the stock has benefitted from a jump in recent trading volume to the tune of exceeding 120% above the average volume levels in play in this stock over the longer term. Traders should note this as important with the stock trading on a float that is tiny at just 23 million shares.
“There are many issues and challenges involved in siting and developing cannabis facilities in Massachusetts and other states where cannabis has legal medical and adult use programs,” stated Robert Fireman, MariMed CEO. “It requires not only a good understanding of the state law, but also a thorough review of each municipality’s zoning, ordinances, and sentiment towards cannabis. We are looking forward to sharing our hard earned insight and helping attendees connect with critical resources that can streamline their efforts. We are delighted to help others enter this new and emerging industry. Cannabis is providing relief to patients and users for all sorts of symptoms and conditions! We believe cannabis is the most important medicinal plant on Earth and has the power to transform human health and wellness.”
At this time, carrying a capital value in the market of $335.9M, MRMD has a stash ($410K) of cash on the books, which compares with about $9.5M in total current liabilities. MRMD is pulling in trailing 12-month revenues of $7M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 81%. We will update the story again soon as developments transpire. Sign-up for continuing coverage on shares of $MRMD stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $MRMD, either long or short, and we have not been compensated for this article.