35 F
New York
Thursday, December 3, 2020

Why Marimed Inc (OTCMKTS:MRMD) has been Back on Fire

Must read

When Will Itau Unibanco Holding S.A. (ITUB) Slow Down

Itau Unibanco Holding S.A. (ITUB) shares are trading at higher $5.77 and the avg recommendation for the stock is Moderate Buy, while the current...

Will Vale S.A. (VALE) Find a Support Level Soon?

Vale S.A. (VALE) shares are trading at lower $15.33 and the avg recommendation for the stock is Strong Buy, while the current analyst price...

Catabasis Pharmaceuticals Inc. (CATB)’s Stock is Jumping, Here is Why

Catabasis Pharmaceuticals Inc. (CATB) shares are trading at higher $2.09 and the avg recommendation for the stock is Hold. To add more color to...

The Forecast Just Changed on Pfizer Inc. (NYSE:PFE)

Pfizer Inc. (PFE) shares are trading at higher $40.80 and the avg recommendation for the stock is Moderate Buy, while the current analyst price...

Shares of Marimed Inc (OTCMKTS:MRMD) have roared back to life so far in 2019, basing off support at the 200-day MA and then breaking sharply above the 50-day MA. That puts the critical $5/share level back in play. To further flesh out the story, the company just announced the formation of MariMed Hemp, Inc., a wholly-owned subsidiary to be entirely focused on hemp-derived CBD products. MariMed Hemp will have a dedicated executive team, proprietary brand and product lines, and distribution and marketing relationships, all separate from MariMed’s core cannabis business.

According to the release, “The subsidiary builds on MariMed’s recent investment in GenCanna Global, a leader in high-quality, fully compliant hemp cultivation and processing which is acclaimed for its genetics, proprietary cultivation practices and best in class processing procedures that produce world-class GMP-quality CBD isolates and oils. GenCanna anticipates planting and processing over 10,000 acres of hemp in 2019, making it one of the nation’s largest hemp producers and the key supplier of hemp CBD oil to MariMed Hemp.”

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 at 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.”

Find out when $MRMD reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

As noted above, MRMD just announced the formation of MariMed Hemp, Inc., a wholly-owned subsidiary to be entirely focused on hemp-derived CBD products. MariMed Hemp will have a dedicated executive team, proprietary brand and product lines, and distribution and marketing relationships, all separate from MariMed’s core cannabis business.

The chart shows 35% during the past month in terms of shareholder gains in the company. Furthermore, the listing has seen a growing influx of trading interest, with the stock’s recent average trading volume running 21% above its longer-run average levels.

“With the recent signing of the U.S. Farm Bill that declared hemp fully legal at the federal level, we believe the hemp CBD industry may grow even faster than the cannabis industry,” said Robert Fireman, CEO of MariMed. “Consumers and retailers alike seek the highest quality, trustworthy products. While many niche players may try to compete, the reality is that only a handful of suppliers can reliably deliver top-quality CBD products at scale that can serve the needs of major retailers.”

Now commanding a market cap of $844.72M, MRMD has a significant war chest ($6M) of cash on the books, which must be weighed relative to 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%. We will update the story again as soon as developments 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.

Latest article

Renewed Optimism is Surrounding Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH)

Norwegian Cruise Line Holdings Ltd. (NCLH) shares are trading at higher $23.40 and the avg recommendation for the stock is Moderate Buy, while the...

Hewlett Packard Enterprise Company (NYSE:HPE) is Waving the Bull Flag

Hewlett Packard Enterprise Company (HPE) shares are trading at higher $11.52 and the avg recommendation for the stock is Moderate Buy, while the current...

The Forecast Just Changed on Kinder Morgan Inc. (NYSE:KMI)

Kinder Morgan Inc. (KMI) shares are trading at higher $14.34 and the avg recommendation for the stock is Moderate Buy, while the current analyst...

OPKO Health Inc. (NASDAQ:OPK) on the Path to Profitability

OPKO Health Inc. (OPK) shares are trading at higher $4.87 and the avg recommendation for the stock is Strong Buy. To add more color...

The Last Few Sessions Have Micron Technology Inc. (MU) Soaring

Micron Technology Inc. (MU) shares are trading at higher $69.11 and the avg recommendation for the stock is Moderate Buy, while the current analyst...