Shares of Marimed Inc (OTCMKTS:MRMD) have been sliding through support in recent days, diving down to test the critical $2/share level. That takes the stock down through its pivot lows put in place in March and December. Now the key test gets underway. This former momentum leader could be offering up an interesting opportunity. Traders will benefit from some scrutiny in coming days. To make matters more interesting, the company just announced the launch of its new website, with a new URL: www.MarimedInc.com.
Penelope Finnie, Senior Vice President of Marketing and Branding at MariMed, stated, “Over the past year, MariMed has expanded beyond its advisory service origins with new sales and production facilities, product expansion, strategic acquisitions, key executive hires, and the launch of a wholly-owned subsidiary, MariMed Hemp, focused on hemp-based CBD markets.”
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 the launch of its new website, with a new URL at www.MarimedInc.com.
The stock has suffered a bit of late, with shares of MRMD taking a hit in recent action, down about -23% over the past week. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -32%. Moreover, the name has witnessed a pop in interest, as transaction volume levels have recently pushed 32% over what the stock has registered over the longer term.
Ms. Finnie continued, “The new website and URL reflects not only MariMed’s recent accomplishments and growth, but also our long-term goals for the company.”
Currently trading at a market capitalization of $454M, MRMD has a significant war chest ($4.2M) of cash on the books, which must be weighed relative to about $15M in total current liabilities. MRMD is pulling in trailing 12-month revenues of $13.3M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 68.8%. This is an exciting story, and we look forward to a follow-up chapter as events 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.