MariMed Inc: U.S. Pot Stock Up 135% in 2021 But Still Undervalued – Profit Confidential

MariMed Stock Bullish on Record Q1 Results

Multistate operator MariMed Inc (OTCMKTS:MRMD) is one of the most compelling, undervalued cannabis stocks out there. And for good reason. MRMD stock has been on a tear since the company reported great third-quarter results in November 2020. And that stellar momentum has carried into 2021.

As of this writing, MariMed stock is up by:

423% year-over-year135% year-to-date215 over the last six months215% over the last three months31% over the last five trading days.

Despite these eye-watering gains, MRMD stock still has a lot of room to run over the coming quarters and years—especially once recreational marijuana becomes legal at the federal level.

Until that eventuality, investors can take solace in knowing that MariMed Inc reported record fourth-quarter and full-year 2020 financial results, reported excellent first-quarter 2021 financial results, announced multistate licensing agreements, is opening new dispensaries, and is launching new products.

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All this has helped MariMed Inc report amazing revenue growth. For 2019, the company reported core cannabis revenue of $16.6 million. In 2020, its revenue jumped by 206% to $50.9 million.

Management says MariMed will generate $100.0 million of revenue and $30.0 million of earnings before interest, taxes, depreciation, and amortization (EBITDA) in 2021.

Chart courtesy of StockCharts.com

MRMD Stock Overview

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

It has 17 licenses in six states: Delaware, Illinois, Maryland, Massachusetts, Nevada, and Rhode Island. (Source: “Investor Presentation: May 2021,” MariMed Inc, last accessed May 26, 2021.)

In the U.S., the company operates seven dispensaries and has three more under development. It also operates five cultivation and production facilities. Moreover, its branded products are found in thousands of other dispensaries.

MariMed Inc’s top-selling brands include the award-winning, vegan-friendly “Betty’s Eddies” medicated fruit chews,

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