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Will Marimed Inc (OTCMKTS:MRMD) Survive the Storm?

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Shares of Marimed Inc (OTCMKTS:MRMD) have frankly been tanking in recent action. The question is this: are we nearing some sort of bounce? To help clarify that reality, the company recently announced that it has received a special permit to allow its Panacea Wellness dispensary in Middleborough to merchandise cannabis products under the Massachusetts adult-use program.

According to the release, it will now proceed at the Cannabis Control Commission (CCC) for adult use final approval. The dispensary has already received town approval for medical use. The state’s Cannabis Control Commission is anticipated to give the go-ahead to open Panacea Wellness under the medical use program following the inspection of the dispensary earlier this week.

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 that it has received a special permit to allow its Panacea Wellness dispensary in Middleborough to merchandise cannabis products under the Massachusetts adult-use program.

Even in light of this news, MRMD has had a rough past week of trading action, with shares sinking something like -33% 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. What’s more, the listing has seen a growing influx of trading interest, with the stock’s recent average trading volume running nearly 140% above the average volume levels in play in this stock over the longer term.

“This special permit brings Panacea Wellness another important step closer to participating in Massachusetts’s adult-use cannabis program,” said MariMed COO, Tim Shaw, “and keeps us on track to becoming the first company to provide top-quality cannabis medicines to the residents of Middleborough and the surrounding area.

Currently trading at a market capitalization of $172M, MRMD has a significant war chest ($3.5M) of cash on the books, which stands against about $31.1M in total current liabilities. One should also note that debt has been growing over recent quarters. MRMD is pulling in trailing 12-month revenues of $36M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 774%. 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 $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.

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