On the list of stocks that have been bonkers on the momentum side and recently flashed into a sharp pullback, MARIMED Inc/SH SH (OTCMKTS: MRMD) might be at the top. The story is one ultimately about dramatic expansion in the cannabis space, which has been a highly productive theme of late. And that narrative continues to roll forward. In fact, the company just announced that it has signed a letter of intent (LOI) to make a strategic investment in Cannabis Venture Partners.
“MariMed and Cannabis Venture Partners share the same vision and ambition to deliver incredible experiences to millions of cannabis consumers and businesses all around the globe,” said MariMed CEO, Robert Fireman. “We are excited about the growth potential of this investment and partnership opportunity with CVP as they transform the way cannabis businesses engage and market to the consumer.”
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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Traders will note 34% during the past month in terms of shareholder gains in the listing. Furthermore, the company has witnessed a pop in interest, as transaction volume levels have recently pushed nearly 250% beyond what we have been seeing over the larger time frame. This should not be overlooked given the stock’s tight trading float (just 23.3 million shares).
“We have been big fans of Sprout’s marketing engine and it has helped MariMed acquire new customers and keep them coming back,” stated Jon Levine, CFO of MariMed. “We’ve been using their technology for several years now and it is undeniably the best CRM and marketing platform in the cannabis industry today.”
“We are excited to partner with MariMed, a forward-thinking innovator with a stellar record of success in the cannabis industry,” stated Jaret Christopher, CEO of Cannabis Venture Partners. “With MariMed’s industry expertise and international reach, our partnership will help us realize our shared goal of utilizing technology, data and content to deliver cannabis around the world.”.
At this time, carrying a capital value in the market of $416.6M, MRMD has a store ($410K) of cash on the books, which stands against 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 is an exciting story, and we look forward to a follow-up chapter as events 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.