MariMed Inc: Overlooked Multi-State Pot Stock Poised to Explode in 2021 – Profit Confidential

MariMed Stock Up 75% in 2021 But Still Undervalued

In the crowded legal cannabis space, it can be difficult to find overlooked stocks that stand out. MariMed Inc (OTCMKTS:MRMD) is one of them.

Admittedly, the multi-state operator has seen its share price make strong gains over the last few months, up 485% since the U.S. election and up 75% in 2021. But at $0.82, MRMD stock is still undervalued and is trading well below its spotlight-hogging peers.

By all accounts, 2021 will be a transformational year for MariMed stock. The company reported strong third-quarter results, it has announced multi-state license agreements, it’s opening new dispensaries, and it has been launching new products.

Thanks to a slew of new developments, MariMed Inc expects to see its revenue grow significantly in 2021. Not that it has any problems in that area. From fiscal 2015 to 2019, MariMed’s total revenues soared from $1.3 to $16.6 million, expanding at a compound annual growth rate of 66.4%.

Advertisement

Although MRMD stock is up significantly since last November, it still needs to advance by about 575% to get to its early-2019 highs.

Suffice it to say, 2019 was not a very good year for the marijuana industry. But with pot-friendly Democrats in control of the White House and Congress, 2021 and 2022 could be a totally different story.

Chart courtesy of StockCharts.com

MRMD Stock Overview

MariMed is one of the largest multi-state seed-to-sale cannabis operators in the U.S.

The company has 17 cannabis licenses for cultivation, production, and dispensaries across seven states (Delaware, Illinois, Maine, Maryland, Massachusetts, Nevada, and Rhode Island). Its products are also found in Puerto Rico. (Source: “Virtual Investor Conference,” MariMed Inc, January 7, 2021.)

The Norwood, MA-based company currently manages more than 300,000 square feet of premier marijuana facilities.

In

Read More Here...

Share on facebook
Share on twitter
Share on reddit
Share on pinterest
Share on email

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top