If you like extremely bullish momentum, then MARIMED Inc/SH SH (OTCMKTS: MRMD) is a stock to take note of. The action here has been extraordinary over the past 6 weeks. Part of the credit for this action must be attributed to the company’s recent financials. In fact, to start this recent run, the company reported first-quarter financial results for 2018, posting consecutive year over year increased Q1 quarterly revenue since 2015.
This included $2.08 million in first quarter revenues, compared to $1.15 million first quarter of 2017, an increase of 81%. According to the release, “The increase is primarily due to the expanding operations of MariMed’s medical marijuana clients from real estate revenue, management fees and licensing fees.”
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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The chart shows 98% tacked on to share pricing for the company in the past week. In addition, the company has seen interest climb, with an increase in recent trading volume of approaching 330% above its longer-run average levels. It pays to take note of this fact given the stock’s very limited trading float of 23.3 million shares.
“MariMed continues on a solid trajectory of year over year growth that it has achieved each quarter since 2015,” stated Robert Fireman, CEO of MariMed Inc. “Our new Maryland cultivation and production facility, which came online in Q1, will bring increased rent, management and licensing fees, adding to our existing revenue streams from facilities in Illinois, Delaware, and Nevada. We anticipate increases in our revenue from our assets as the cannabis business in Maryland and Massachusetts continues to expand.”
Currently trading at a market capitalization of $558M, MRMD has a bankroll ($410K) of cash on the books, which is balanced by 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%. This may be a very interesting story and we will look forward to updating it again soon. 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.