iAnthus Capital Holdings Inc (OTCMKTS:ITHUF) just announced it has now reached over 2,600 retail stores in the United States with its leading CBD-infused wellness and self-care products.
According to the release, “in addition to traditional retailers like Urban Outfitters, Dillard’s, The Hallmark Store, and Wegman’s, CBD For Life’s products can now be found with top shelf placement in newsstands in hundreds of high traffic areas including rail stations, commuter terminals and airports. The Company also began a limited roll out of products with UNFI Distribution, the largest natural foods distribution company in the United States and Canada with over 43,000 customers including natural foods grocers, health food markets and superstores. The Company’s products are also available online at CBDforlife.us, Dillards.com, UrbanOutfitters.com and recently relaunched at TheGrommet.com. CBD For Life’s rubs were recently featured on the Yahoo.com holiday shopping guide 7 classy stocking stuffers they’ll never guess are under $25, and the company has now reached over 1000 5-star product reviews.”
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 it has now reached over 2,600 retail stores in the United States with its leading CBD-infused wellness and self-care products.
Recent action has seen 7% added to share values of the stock over the past week of action. Moreover, the stock has seen interest climb, with an increase in recent trading volume of 14% beyond its prior sustained average level.
“We are thrilled that CBD products are in such high demand this holiday season. On Black Friday alone this year, we saw a nearly 300% increase in our average daily sales. Cyber Monday was similar. Our holiday gift set, available through our website, is seeing incredible sell-through. With the recent upgrades we’ve made to our website, e-commerce fulfillment, and third-party logistics systems, we are ready to meet that demand and can’t wait to put smiles on thousands of faces on Christmas Day!” said Julie Winter, Vice President at iAnthus and General Manager of CBD For Life. “We are beginning our fifth year of operations with great momentum. In the new year, look for new packaging and new products, including deodorant and lip treatments.”
Earning a current market cap value of $197M, ITHUF has a significant war chest ($27.9M) of cash on the books, which stands against about $41.6M in total current liabilities. ITHUF is pulling in trailing 12-month revenues of $53.1M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 2279%. You can bet we will update this one again as new information comes into view. 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.