Will Harvest Health & Recreation Inc (OTCMKTS:HRVSF) Dig in at the $5...

Will Harvest Health & Recreation Inc (OTCMKTS:HRVSF) Dig in at the $5 Level?

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The value game continues to play itself out in shares of Harvest Health & Recreation Inc (OTCMKTS:HRVSF). We noted this stock as a possible danger-play back on April 25, when it was more than twice these levels. But the degree of pain that has been dealt out has exceeded even our bearish expectations. That begs the question: when is enough enough? To help answer that, the company just announced it has signed ONE Community’s UNITY Pledge, a concerted effort by Arizona businesses and individuals to advance workplace equity and equal treatment in housing and public accommodations for Lesbian, Gay, Bisexual, Transgender, and Queer (LGBTQ) individuals and their allies.

, when it was more than twice these levels. But the degree of pain that has been dealt out has exceeded even our bearish expectations. That begs the question: when is enough enough? To help answer that, the company just announced it has signed ONE Community’s UNITY Pledge, a concerted effort by Arizona businesses and individuals to advance workplace equity and equal treatment in housing and public accommodations for Lesbian, Gay, Bisexual, Transgender, and Queer (LGBTQ) individuals and their allies.

According to the release, “Harvest is the first large cannabis company to sign the LGBTQ equality effort created by ONE Community, a member-based coalition of Arizona businesses and individuals dedicated to growing Arizona’s economy and improving the community.”

Harvest Health & Recreation Inc (OTCMKTS:HRVSF) bills itself as a company that cultivates, manufactures, and retails cannabis in the United States. The company is headquartered in Vancouver, Canada.

Harvest Health & Recreation Inc. is one of the first consistently profitable, vertically integrated cannabis companies with one of the largest footprints in the U.S. Harvest’s complete vertical solution includes industry-leading cultivation, manufacturing, and retail facilities, construction, real estate, technology, operational, and brand building expertise — leveraging in-house legal, HR and marketing teams, along with proven experts in writing and winning state-based applications.

The company has more than 525 employees with proven experience, expertise and knowledge of in-house best practices that are drawn upon whenever Harvest enters new markets. Harvest’s executive team is comprised of leaders in finance, compliance, real estate, and operations.

Since its founding in 2011, Harvest has grown its footprint every year, has been ranked as the third-largest cultivator in the U.S. and currently owns licenses for more than 130 facilities across the U.S. Harvest shares timely updates and releases as part of its regular course of business with the media and the interested public.

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As noted above, HRVSF just announced it has signed ONE Community’s UNITY Pledge, a concerted effort by Arizona businesses and individuals to advance workplace equity and equal treatment in housing and public accommodations for Lesbian, Gay, Bisexual, Transgender and Queer (LGBTQ) individuals and their allies.

The stock has suffered a bit of late, with shares of HRVSF taking a hit in recent action, down about -14% over the past week. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -6%. In addition, the stock has seen a jump in recent trading volume to the tune of 43% over what the stock has registered over the longer term.

“Our company has been and will always be a place where everyone is welcome – no matter your sexual orientation or gender identity. Taking the UNITY Pledge is an important step in ensuring everyone who walks through our doors feels safe and welcome,” said Harvest Chief Executive Offer Steve White. “We are proud to have signed this pledge along with the other Arizona businesses that like us see the irrefutable importance of inclusion.”

At this time, carrying a capital value in the market of $463M, HRVSF has about $1.1M in cash currently on the books, which must be weighed relative to about $8.6M in total current liabilities. The company has pulled in about $11.6M in total trailing 12-month revenues.  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 $HRVSF 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 $HRVSF, either long or short, and we have not been compensated for this article.

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