We suggested last week that you may want to keep a close eye on MARIMED Inc/SH SH (OTCMKTS: MRMD), as the stock worked through a dip in a very strong trend. So far, that has been solid advice, with shares ripping back higher over the past couple days. This is a small float player widening its reach into the cannabis patch with growing potential.
As far as recent catalysts driving the action, the company’s most recent announcement focuses on 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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According to the release, “CVP’s flagship technology, Sprout, is an all-in-one CRM and marketing software designed for dispensaries and cannabis brands. The Sprout software platform is used today by dispensaries and cannabis brands in nine states and its clients – brands and dispensaries – typically achieve 10x return on their marketing spend to acquire, retain, and increase share of wallet with their customers. Through its partnership with MariMed, Cannabis Venture Partners will continue to develop and expand the Sprout platform and launch new technologies, data and content that are consumer-centric and help dispensaries and cannabis brands increase sales, improve customer loyalty and reach more customers.”
Recent action has seen 76% piled on for shareholders of the name during the trailing month. What’s more, the stock has seen interest climb, with an increase in recent trading volume of greater than 250% above the average volume levels in play in this stock over the longer term.
With a float of just 23 million shares, this jump in participation shouldn’t be overlooked. The stock is finally starting to trade in the millions of shares per day here and there, and scarcity premium can become a factor in cases like this.
Now commanding a market cap of $594M, MRMD has a bankroll ($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%. You can bet we will update this one again as new information comes into view. 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.