It’s just possible that one of the great and powerful momentum names in the cannabis mania, Marimed Inc (OTCMKTS:MRMD) is now a sleeping giant for potential trend continuation if momentum picks back up. One factor that could help to push that type of shift in the feel of this stock’s chart right now is strong exposure. On that note, the company just announced that it will be appearing at two investment conferences in March.
According to the release, “on Wednesday, March 6, MariMed senior management will attend the Opal Group’s Family Office Winter Forum held at the Marriott Marquis Hotel in Times Square, New York City. It is one of the largest family office events in the U.S. Additionally, MariMed CEO Bob Fireman will participate in a 4:00 PM panel discussion focusing on investing in the cannabis industry. March 18-19, MariMed senior management will be at the 31st Annual Roth Conference at The Ritz Carlton, Laguna Niguel in Orange County, Calif. This conference is expected to attract close to 550 participating companies and over 4,700 attendees, and will feature presentations from public and private companies in a variety of sectors.”
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 it will be appearing at two investment conferences in March. The chart shows 3% piled on for shareholders of the company during the trailing week.
What’s more, the stock has registered increased average transaction volume recently, with the past month seeing 26% above the average volume levels in play in this stock over the longer term.
MariMed CEO Bob Fireman noted, “Since the passage of the 2018 Farm Bill, health and wellness products containing hemp-derived CBD are legal nationally. As one of the largest multi-state cannabis operators in the U.S., and as an early investor in high quality, hemp-derived CBD production, we are uniquely well positioned for future growth. MariMed management looks forward to contributing to the investment community’s understanding of this industry and its potential to improve health and wellness across a broad spectrum of conditions.”
Currently trading at a market capitalization of $825.52M, MRMD has a significant war chest ($6M) of cash on the books, which compares with 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.