Streetbeat News

MRMD

MariMed Inc

Employees

326

Industry

Medicinal and Botanical Manufacturing

Open

0.16

Mkt cap

60M

Volume

225K

High

0.17

P/E Ratio

-3.15

52-wk high

0.39

Low

0.15

Div yield

N/A

52-wk low

0.14

The 4th quarter 2023 earnings for the cannabis sector showed a positive trend with a significant correlation between EBITDA surprises and stock performance. Green Thumb and Trulieve reported notable EBITDA beats, while Marimed, Cannabist, and TerrAscend faced significant misses. Analysts have adjusted their 2024 EBITDA estimates slightly downwards, reflecting modest expectations for revenue growth and margin expansion. The Viridian Cannabis Deal Tracker highlights the importance of these trends for investors.

Portfolio Pulse from Viridian Capital Advisors

March 18, 2024 | 4:46 pm

Cannabis stocks experienced significant movements on March 15, 2024, with notable gainers including CordovaCann, Global Hemp Group, and Canopy Growth, among others. Conversely, Australis Capital led the losers with a dramatic drop. The movements reflect varying investor sentiments and market dynamics within the cannabis sector.

Portfolio Pulse from Benzinga Insights

March 15, 2024 | 9:30 pm

The article reports on significant price movements in the cannabis stock market on March 14, 2024, listing both gainers and losers. Notable gainers include Australis Capital with a 9900.00% increase, while CordovaCann led the losers with a 37.42% decrease. Other companies experienced various degrees of gains and losses, reflecting the volatile nature of the cannabis market.

Portfolio Pulse from Benzinga Insights

March 14, 2024 | 9:30 pm

MariMed Inc. (OTC:MRMD) reported a 48% increase in wholesale revenue for 2023, with projections of over 20% growth for 2024, despite its CY24 sales guidance being below expectations. The company trades at 4.6x EBITDA, below the MSO average of 7.3x. Analyst Pablo Zuanic maintains an Overweight rating on MRMD, citing strong wholesale growth and underutilized brand power, despite a 21% decrease in MRMD shares over the past 90 days. The MSOS ETF (NYSE:MSOS) has only 1% ownership in MariMed, compared to 10-14% for companies like Jushi (OTC: JUSHF) and AYR (OTC:AYRWF), contributing to MariMed's underperformance. Zuanic sees limited downside risk and potential for future gains, especially with strategic expansions.

Portfolio Pulse from Nicolás Jose Rodriguez

March 13, 2024 | 8:25 pm

On March 12, 2024, several cannabis stocks experienced significant price movements. Notable gainers included MedMen Enterprises, AusCann Group Holdings, and Target Group, with increases of 900%, 816.67%, and 40.74% respectively. On the downside, 1933 Industries led the losers, dropping 30.77%, followed by Heritage Cannabis Holding and Rocky Mountain High with declines of 20% and 19.35%. Corbus Pharmaceuticals and Village Farms Intl were among the few NASDAQ-listed companies mentioned, with gains of 6.06% and 4.25%.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 9:30 pm

The cannabis sector experienced mixed movements on March 11, 2024, with several companies showing significant gains while others faced steep declines. Notably, MedMen Enterprises and AusCann Group Holdings saw dramatic drops of 90% and 87.5%, respectively. On the gainers' side, CordovaCann led with a 39.35% increase. Major US-listed companies like Eastside Distilling, Psychemedics, Corbus Pharmaceuticals, Emeren Group, Aurora Cannabis, Genetic Technologies, Scotts Miracle Gro, and Cara Therapeutics also experienced price movements.

Portfolio Pulse from Benzinga Insights

March 11, 2024 | 9:30 pm

The cannabis sector experienced significant movement on March 8, 2024, with a majority of stocks showing bullish sentiment. Notable gainers include MedMen Enterprises with a 900% increase and Cann Gr with a 232.28% rise. Conversely, Heritage Cannabis Holding led the losers, declining by 18.33%. This movement reflects a dynamic day in the cannabis market, with several companies experiencing substantial price changes.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 9:30 pm

MariMed Inc (OTCQX:MRMD), a multi-state cannabis operator, reported a revenue increase to $38.9 million in Q4 2023, up from $35.8 million in the same period last year. However, the company experienced a net loss of $10.1 million in the quarter, compared to a net income of $4.7 million in the previous year, primarily due to a $10 million loss on the extinguishment of debt. For the full year, revenue was $148 million, up from $134 million in 2022, but net loss increased to $16 million from a net income of $13.6 million in 2022. CEO Jon Levine highlighted the company's sixth consecutive year of double-digit revenue growth and positive adjusted EBITDA for the fourth year. MariMed anticipates 5% to 7% revenue growth in 2024, not including potential new revenue from operations in Ohio, Missouri, Maryland, or acquisitions.

Portfolio Pulse from Maureen Meehan

March 07, 2024 | 2:09 am

Cannabis stocks experienced significant movements on March 6, 2024, with notable gainers including Item 9 Labs, Affinor Growers, and Rocky Mountain High, among others. Conversely, several companies faced declines, with AusCann Group Holdings leading the losers, followed by Elixinol Wellness and Neptune Wellness Solutions. The movements reflect the volatile nature of the cannabis market.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 9:30 pm

MariMed (OTC:MRMD) is scheduled to release its quarterly earnings report on March 6, 2024, with analysts expecting an EPS of $0.00. The company's past earnings performance shows mixed results, with a slight miss last quarter leading to a 0.38% drop in share price. Over the last year, MariMed's shares have declined by 45.74%, indicating a bearish outlook among long-term shareholders. Investors will be keenly watching for not only the earnings results but also the company's guidance for future growth.

Portfolio Pulse from Benzinga Insights

March 05, 2024 | 7:03 pm

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