As MPX Bioceutical Corp (OTCMKTS:MPXEF) pulls back in recent action, it’s important to note that the stock is still very clearly outperforming the majority of the cannabis patch over the past month. To further that narrative, the company just announced that it will open a new Health for Life dispensary in Nottingham, Maryland.
According to the release, the dispensary is operated by MPX’s indirect wholly-owned subsidiary, S8 Management LLC, through a management agreement with LMS Wellness, Benefit LLC (“LMS”), which provides all management services typically required by a dispensary facility to successfully operate. This is the Company’s third dispensary in Maryland, following the opening of its flagship Health for Life dispensary in Bethesda, in August 2018 and Health for Life dispensary in Baltimore, in October 2018.
MPX Bioceutical Corp (OTCMKTS:MPXEF) frames itself as a company that, together with its subsidiaries, produces medical marijuana and pharma-grade products in North America.
The company engages in the cultivation, manufacture, production, use, sale, or distribution of cannabis in the Arizona medical marijuana market, and the medical and adult-use market.
It also provides management, staffing, procurement, advisory, financial, real estate rental, logistics, and administrative services to medicinal cannabis enterprises; and nutraceuticals.
The company was formerly known as The Canadian Bioceutical Corporation and changed its name to MPX Bioceutical Corporation in November 2017. MPX Bioceutical Corporation was incorporated in 1974 and is based in Toronto, Canada.
MPX, through its wholly-owned subsidiaries in the U.S., provides substantial management, staffing, procurement, advisory, financial, real estate rental, logistics and administrative services to three medicinal cannabis enterprises in Arizona operating under the Health for Life (dispensaries) and the award-winning Melting Point Extracts (high-margin concentrates wholesale) brands. The successful Health for Life brand operates in the rapidly growing Phoenix Metropolitan Statistical Area. With the acquisition of The Holistic Center, MPX added another operating medical cannabis enterprise to its footprint in Arizona.
GreenMart of Nevada NLV, LLC is an award-winning licensed cultivation, production and wholesale business, licensed for both the medical and “adult use” sectors in Las Vegas, Nevada, and is already selling wholesale into the Nevada medical cannabis market. GreenMart NV has also optioned suitable locations and intends to enter the higher-margin retail arena by applying for at least two dispensary licenses in the Las Vegas market which will operate under the “Health for Life” brand.
In Massachusetts, MPX is building out and will operate a cultivation and production facility as well as up to three dispensaries and manages three full service dispensaries and one producer in Maryland.
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As noted above, MPXEF just announced that it will open a new Health for Life dispensary in Nottingham, Maryland.
In all, traders will note -4% during the past week in terms of shareholder levels stripped out of the listing. Moreover, the stock has benefitted from a jump in recent trading volume to the tune of 52% beyond its prior sustained average level.
“Marylanders are increasingly familiar with The Health for Life brand and the impact it has on their community,” said Julie Winter, MPX’s Senior Vice President of East Coast Operations. “They are now able to find us in three locations and have come to rely on us as a reputable source for patient education and reliable information on cannabis, as well as quality, consistent medicine.”
This move will further entrench MPXEF as one of the leadership stock ideas if and when we see further progress on cannabis from a US federal legislative perspective. With some big possibilities already on the table, we’re sure this is a big part of why the stock has been performing so well of late.
At this time, carrying a capital value in the market of $287.34M, MPXEF has a significant war chest ($30.7M) of cash on the books, which is balanced by about $8.1M in total current liabilities. MPXEF is pulling in trailing 12-month revenues of $31.3M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 183.3%. 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 $MPXEF 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 $MPXEF, either long or short, and we have not been compensated for this article.