After holding key support at its 200-day moving average, Marimed Inc (OTCMKTS:MRMD) shares have rebounded in fine form, with strong gains over the past two weeks, holding the character of a continuing upward trend on the large time frame charts. To further flesh out the narrative, the company just announced that its CEO Robert Fireman will be a featured presenter at the second annual Cannabis Capital Conference, hosted by premier financial media outlet Benzinga, to be held in Miami, Florida, Jan. 15-16, 2019.
According to the release, “This highly-anticipated event sets the standard among cannabis conferences, offering unparalleled access and seamless interaction between the entrepreneurs who are establishing highly promising companies and the investors whose capital will fuel their efforts. Fireman’s MariMed presentation will be at 1:50 pm in Ballroom 3 at Eden Roc Hotel-Miami Beach, 4525 Collins Avenue, Miami Beach, Fla. Mr. Fireman, who grew MariMed from its early stages to a multi-state, publicly traded cannabis organization that was one of the top performing cannabis stocks of 2018, will be in good company with presenters including top investors like CNBC’s Tim Seymour, Jon Najarian and New Cannabis Ventures founder Alan Brochstein and other top cannabis company CEOs.”
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 that its CEO Robert Fireman will be a featured presenter at the second annual Cannabis Capital Conference, hosted by premier financial media outlet Benzinga, to be held in Miami, Florida, Jan. 15-16, 2019.
The chart shows 5% during the past month in terms of shareholder gains in the company. Moreover, the listing has witnessed a pop in interest, as transaction volume levels have recently pushed 24% beyond its prior sustained average level.
“2018 was a banner year for MariMed and the cannabis and hemp industries. In anticipation of the federal government legalizing hemp through passage of the 2018 Farm Bill, MariMed expanded its footprint into the Hemp CBD industry, creating a new business division and revenue stream,” stated Robert Fireman.
“Several new medical and recreational cannabis markets have emerged or expanded this year. We’re looking forward to sharing details of strategic license and facility acquisitions and how we will leverage developments in new legal markets to accelerate MariMed’s growth in 2019 and beyond.”
Earning a current market cap value of $755.13M, MRMD has a significant war chest ($6M) of cash on the books, which is balanced by about $12.9M in total current liabilities. MRMD is pulling in trailing 12-month revenues of $10M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 97.7%. 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.