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Sunday, January 16, 2022

Why iAnthus Capital Holdings Inc (OTCMKTS:ITHUF) May be Starting to Jump

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The interesting pullback in shares of iAnthus Capital Holdings Inc (OTCMKTS:ITHUF) has continued in the form of a pullback to test the $3.75/share, roughly testing the lows from December. But the stock rallied on Friday to retake the key $4/share area, helped by the company’s financial results for the fiscal first quarter ended March 31, 2019.

According to the release, revenue generating activities in 9 of 11 states and a footprint allowing for up to 68 dispensaries, pro forma revenues for the first quarter of $18.5 million, up 22% sequentially from the prior quarter, and pro forma revenues in April of approximately $8.5 million.

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 strong Q1 financial data. We’ve witnessed basically flat action in share pricing for the stock in the past week.

What’s more, the stock has registered increased average transaction volume recently, with the past month seeing 14% beyond what we have been seeing over the larger time frame.

Hadley Ford, CEO of iAnthus, noted, “2019 is off to a great start for team iAnthus, and I want to thank all of our dedicated employees for their hard work as we fully integrate the MPX and iAnthus operations. Revenues in the first quarter are up 22% sequentially on a pro forma basis for the combined company and that pace has accelerated into April and May. We are excited to be moving forward on our branding initiatives and look forward to opening our first flagship Be. store in Brooklyn this fall. Momentum is continuing across all our markets, particularly in our greenfield operations in Maryland, Massachusetts, and Florida. We expect to close the CBD For Life acquisition shortly and can’t wait to share some of the exciting plans in store for that business. Managing growth is our number one focus, and we remain committed to investing prudently in our business to take advantage of this once-ever opportunity. We will continue to be opportunistic in our approach to M&A and will maintain a strong focus on reducing our overall cost of capital.  We are very excited about 2019 and look forward to continuing to deliver for our shareholders.”

Now commanding a market cap of $688.02M, ITHUF has a significant war chest ($20.6M) of cash on the books, which stands against 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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