Rising Star Among Cannabis Companies: Why MariMed Deserves Your Attention
Portfolio Pulse from Nicolás Jose Rodriguez
Zuanic & Associates initiates coverage of cannabis company MariMed (OTC:MRMD) with an Overweight rating, stating the stock is undervalued compared to its peers. MariMed operates in four states, with significant sales from Illinois, Massachusetts, Maryland, Ohio and upcoming operations in Missouri and Delaware. The company acquired Kind Therapeutics in Maryland in April 2022 and doubled sales with the introduction of recreational cannabis in July 2023. MariMed's FY23 guidance anticipates substantial growth, with sales reaching at least $150 million and an adjusted EBITDA of $32-35 million. The company is expected to become a top 10 multi-state operator by 2025.
November 05, 2023 | 6:55 pm
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MariMed is expected to see substantial growth, with sales reaching at least $150 million in FY23. The company is also expected to become a top 10 multi-state operator by 2025.
The positive coverage from Zuanic & Associates, along with the company's strong sales and growth projections, suggest a positive short-term impact on MariMed's stock. The company's expansion into new states and the acquisition of Kind Therapeutics also contribute to this positive outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100