One stock that has seemingly slipped past the radar of many traders in the cannabis space, but one that has been truly one of the best performers, representing quite a remarkable pairing of concepts, is Marimed Inc (OTCMKTS:MRMD). To help further drive the action, the company just announced its co-sponsorship of Maryland Medical Cannabis Forum (MMCF) to offer Maryland medical professionals the opportunity to enhance their knowledge about medical cannabis treatment.
According to the release, “The Maryland Medical Cannabis Forum will take place on Thursday, November 8th, 5:00 pm at the Royal Sonesta Harbor Court Hotel, 550 Light St., Baltimore. The MMCF, a collaborative effort between MariMed, Tikun Olam, and MedChi of Maryland, was created to provide to the Maryland medical community current and credible information on the state of medical cannabis research and practices–and how it affects the 40,000-and-growing Maryland medical marijuana patients.”
Marimed Inc (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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As noted above, MRMD just announced its co-sponsorship of Maryland Medical Cannabis Forum (MMCF) to offer Maryland medical professionals the opportunity to enhance their knowledge about medical cannabis treatment.
We’ve witnessed 19% tacked on to share pricing for the name in the past month. Moreover, the stock has witnessed a pop in interest, as transaction volume levels have recently pushed 89% above the average volume levels in play in this stock over the longer term.
“Educating the medical community about cannabis’ clinical applications and supporting research is critical to increasing acceptance of cannabis as valid medical treatment and reducing the stigma associated with it,” stated Robert Fireman, CEO of MariMed. “We are proud to sponsor this event with several of the industry’s top medical cannabis practitioners, researchers and experts.”
Currently trading at a market capitalization of $950.77M, MRMD has a significant war chest ($5.1M) of cash on the books, which must be weighed relative to about $16.1M in total current liabilities. MRMD is pulling in trailing 12-month revenues of $8.3M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 81.2%. As more color becomes clear on the name, we will review the situation and update our take. 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.