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iAnthus Capital Holdings Inc (OTCMKTS:ITHUF) May Suffer from Problems on the IR Side

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Despite having an astonishingly poor investor relations team, iAnthus Capital Holdings Inc (OTCMKTS:ITHUF) is still worth a look. To give you some idea of what we’re talking about, take a look at the latest release attached to the stock. It’s about a subsidiary. But you’d never know it by reading it. This is a rookie mistake. And it makes us wonder how many other fat pitches are being stared at while they cruise down the middle of the plate for this company. A firm like this should always be speaking to investors on behalf of the publicly traded shares, not the effectively insignificant subsidiary.

In any case, with sufficient diligence, one might eventually figure out that a release about some company called “GrowHealthy” has anything whatsoever to do with ITHUF. But it’s hardly obvious from the release. This is despite the fact that the information in the press release has no material value other than in terms of its ability to inform prospective investors about the implications of events in the world for the value of shares of ITHUF. To bury that conceptual connection is tantamount to investor relations malpractice, which can be deadly for a stock in this niche.

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 GrowHealthy, a property of ITHUF, just debuted a brand-new dispensary in Deerfield Beach, Florida, with the official grand opening on Wednesday, November 27.

According to the release, “Along with Deerfield Beach, the Florida based brand looks forward to two new additional storefronts this calendar year, preparing for openings in Ocala and Stuart. The Deerfield Beach location will mark GrowHealthy’s 10th retail store, with more than 17 retail locations slated for opening by end of Q1 2020.”

Even in light of this news, ITHUF has had a rough past week of trading action, with shares sinking something like -6% 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. In addition, the stock has benefitted from a jump in recent trading volume to the tune of 35% beyond what we have been seeing over the larger time frame.

“As GrowHealthy continues to accelerate expansion, we’re prepared to provide an increase in product availability to support retail openings through the state of Florida. Our goal is to increase production and our range of inventory in order to provide patients with access to premium-quality cannabis at affordable price points,” shares Michael Medor, Vice-President and GM of GrowHealthy. “We’re excited to enter this new Florida market and to connect with patients in Broward County and the surrounding communities who may not have access to the medicine that they need to live their best lives.”

Now commanding a market cap of $211M, ITHUF has a significant war chest ($30.5M) of cash on the books, which must be weighed relative to about $41.2M in total current liabilities. ITHUF is pulling in trailing 12-month revenues of $31.7M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 7411.4%. We will update the story again as soon as further details emerge. 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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