The balance of powers in the tape of iAnthus Capital Holdings Inc (OTCMKTS:ITHUF) is an interesting process to behold. The company is ripping along with 4,000% top-line growth, but it has a monster pile of debt. The net off that combination of ideas is a downtrend with a sense of speculative potential that is palpable. To add more color to the story, the company just announced that it is continuing to expand its retail presence with a partnership with Dillard’s, Inc.
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 at www.Dillards.com/brand/CBD+For+Life.”
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.
While this is a clear factor, it has been incorporated into a trading tape characterized by a pretty dominant offer, which hasn’t been the type of action ITHUF shareholders really want to see. In total, over the past five days, shares of the stock have dropped by roughly -7% on above-average trading volume. All in all, not a particularly friendly tape, but one that may ultimately present some new opportunities.
“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.”
Now commanding a market cap of $389M, ITHUF has a significant war chest ($42.3M) of cash on the books, which compares with about $106.7M in total current liabilities. One should also note that debt has been growing over recent quarters. ITHUF is pulling in trailing 12-month revenues of $12.8M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 4174.1%. 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.