Signs of a Bottom in iAnthus Capital Holdings Inc (OTCMKTS:ITHUF)?

Signs of a Bottom in iAnthus Capital Holdings Inc (OTCMKTS:ITHUF)?

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The pullback in shares of iAnthus Capital Holdings Inc (OTCMKTS:ITHUF) has been one of the most steady and unrelenting of any in the cannabis patch so far this year. The question is likely very much on the mind of traders as to whether or not we are near a key and reliable support level in the stock at this point. To help drive perspective, the company just announced that it is continuing to expand its retail presence with a partnership with Dillard’s, Inc. This is yet another sign of the penetration of the CBD market into mainstream life.

According to the release, “The Company’s CBD-infused wellness, self-care, and beauty products are currently available throughout Dillard’s 265 department stores spanning 29 states – with initial purchase orders received for a range of CBD For Life’s products including pure CBD rubs, roll-on oils, eye serum, face and body cleanser, hand and body massage lotion, as well as CBD-infused bath bombs, just to name a few. The Company’s products are also available for purchase on the Dillard’s website.”

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 continuing to expand its retail presence with a partnership with Dillard’s, Inc.

Even in light of this news, ITHUF has had a rough past week of trading action, with shares sinking something like -9% in that time. That said, chart support is nearby and we may be in the process of constructing a nice setup for some movement back the other way. Moreover, the name has benefitted from a jump in recent trading volume to the tune of 58% beyond what we have been seeing over the larger time frame.

“We’re excited for our products to be featured on the shelves of one of the largest and most well-regarded fashion retailers in the United States,” said Beth Stavola, Co-Founder of CBD For Life and Chief Strategy Officer of iAnthus. “The ability to reach an even broader audience via the well-established customer base of a great partner like Dillard’s brings us another step closer to achieving our end goal of establishing CBD For Life as a household name in beauty and wellness.”

Earning a current market cap value of $424M, ITHUF has a significant war chest ($42.3M) of cash on the books, which stands against virtually no total current liabilities. ITHUF is pulling in trailing 12-month revenues of $16.6M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 1515.8%. This may be a very interesting story and we will look forward to updating it again soon. 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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