iAnthus Capital Holdings Inc (OTCMKTS:ITHUF) Gets Back into Gear

iAnthus Capital Holdings Inc (OTCMKTS:ITHUF) Gets Back into Gear


Shares of iAnthus Capital Holdings Inc (OTCMKTS:ITHUF) are on the mend in recent action. This follows the company’s recent announcement that it is opening a new dispensary in Phoenix, Arizona. The stock closed the year with a pop up through the 50-day simple moving average and has momentum to start 2020.

According to the release, “this dispensary, currently operating under “The Holistic Center” brand, has replaced a prior location in Phoenix. The new location, 21035 North Cave Creek Road, Suite C 3-4, is 2,000 square feet and has 13 points of sale, double the number of the prior location. The newly renovated, fresh, modern facility features an open layout that allows for a larger brand and product selection, better customer experience and shorter wait times.  The new store has been designed in conjunction with the overall Be. store rebranding concept and will be converted to a Be. store with the other Arizona stores in early 2020.”

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 the recent opening of its new dispensary in Phoenix, Arizona.

Traders will note 4% tacked on to share pricing for the company in the past week. Moreover, the name has seen a growing influx of trading interest, with the stock’s recent average trading volume running 16% above the average volume levels in play in this stock over the longer term.

According to the release, “The Holistic Center is one of four retail dispensaries iAnthus acquired in Arizona through the MPX acquisition which closed in February 2019.  The remaining three operate under the “Health for Life” brand.  In aggregate, iAnthus has about 5% market share in the state, including its wholesale business.  In addition to the increased retail capacity at Cave Creek, the Company added delivery service throughout the North Phoenix and East Mesa areas.”

Now commanding a market cap of $205M, ITHUF has a significant war chest ($27.9M) of cash on the books, which compares with 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%. 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 $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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