iAnthus Capital Holdings Inc (OTCMKTS:ITHUF) Shares Jump on Strong 420 Strategy

iAnthus Capital Holdings Inc (OTCMKTS:ITHUF) Shares Jump on Strong 420 Strategy

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Cannabis stock traders should note the resurgent interest in shares of iAnthus Capital Holdings Inc (OTCMKTS:ITHUF) over recent days. This has been one of the stalwart plays in the space, with strong upward momentum during waves of interest in this theme and limited downside during cannabis corrections.

To further drive the action, the company just announced that it launched the sale of smokable flower and pre-rolled joints in Florida through iAnthus’ “GrowHealthy” Florida dispensary brand. According to the release, the flower sales commenced this past Saturday, April 20, commonly known as the cannabis holiday, “4/20”.

iAnthus Capital Holdings Inc (OTCMKTS:ITHUF), through its wholly-owned subsidiary iAnthus Capital Management, LLC, provides investors diversified exposure to “best-in-class” licensed cannabis cultivators, processors, and dispensaries throughout the United States. iAnthus currently owns, operates or has partnered with marijuana license holders in Massachusetts, Vermont, Colorado and New Mexico.

As reported, “founded by entrepreneurs with decades of experience in investment banking, corporate finance, law and healthcare services,” iAnthus provides a “unique combination” of capital and hands-on operating and management expertise. The Company leverages these skills to support “a diversified portfolio of cannabis industry investments for our shareholders.”

Moreover, iAnthus Capital Holdings, Inc. engages in the delivery of solutions for financing, developing, and managing state-licensed cannabis cultivators and dispensaries in the United States. The company is headquartered in New York, New York.

According to company materials, “iAnthus Capital Holdings, Inc. owns and operates best-in-class licensed cannabis cultivation, processing and dispensary facilities throughout the United States, providing investors diversified exposure to the U.S. regulated cannabis industry. Founded by entrepreneurs with decades of experience in operations, investment banking, corporate finance, law and healthcare services, iAnthus provides a unique combination of capital and hands-on operating and management expertise. The Company harnesses these skills to support operations across five states.”

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As noted above, ITHUF just announced that it is launching the sale of smokable flower and pre-rolled joints in Florida through iAnthus’ “GrowHealthy” Florida dispensary brand.

Traders will note 17% tacked on to share pricing for the name in the past week. Moreover, the listing has seen a growing influx of trading interest, with the stock’s recent average trading volume running just shy of 120% above its longer-run average levels.

According to the release, to celebrate the 4/20 holiday, the company’s dispensary brands throughout the United States hosted their own celebrations, events and deals, including Health For Life Arizona hosting “Four Days of 4/20,” across its four retail locations, Citiva New York hosting celebratory events at its Brooklyn and Hudson Valley dispensary locations, Grassroots Vermont running specials on certain products throughout the week leading up to 4/20, while hosting a recruiting drive for Green Up/Clean Up VT, a volunteer-based roadside trash removal event, GrowHealthy Florida giving away free branded t-shirts to the first 50 patients in each of its three retail locations and running discounts on vape cartridges, syringes, and vape pens, Health For Life Maryland hosting events at each of its three dispensary locations including live music, food trucks, raffles and local vendors, and Mayflower Medicinals in Massachusetts hosting a raffle for all patients who came into its Harvard Ave. dispensary on 4/20, in addition to offering various deals and discounts throughout the week.

Now commanding a market cap of $811.42M, ITHUF has a significant war chest ($20.6M) of cash on the books, which compares with virtually no total current liabilities. ITHUF is pulling in trailing 12-month revenues of $6.4M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 399.9%. 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 $ITHUF 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 $ITHUF, either long or short, and we have not been compensated for this article.

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