MariMed Inc (MRMD)

[garyhalvo]

MariMed Inc.

MariMed Inc. is a cannabis MSO that is developing its own brand of seed to sell state-licensed cannabis facilities and dispensary operations. Currently, MariMed has an experienced management team that produces consistent growth and success for the company. On May 17th the company announced its first-quarter 2021 results which reflect high revenue growth and profitability.

In detail, core cannabis revenue increased by 230% to $24.6 million. Additionally, the company had an EBITDA increase of 764% to $7.6 million in Q1 2021 compared to Q1 of 2020. Currently, MeriMed has achieved its highest quarter of core cannabis revenue and profitability. Specifically, delivering gross profits on core cannabis revenue of $13.2 million. In the quarter the company also opened its fourth recreational Illinois dispensary. In addition, the company continues to expand its award-winning product portfolio. Recently adding new SKUs like Smashin Passion to Betty’s Edibles which is a vegan chews brand among other new products.MRMD stock is trading at $0.95 in the last half hour of trading on May 21st. Currently, the stock is up 88.40% year to date and has climbed 411.85% in the last six months. According to analysts at Stock Invest, they say MRMD stock holds positive trading signals. But the stock is not currently a buy candidate. But with strong revenue growth and significant market gains in the last six months MRMD stock is a top marijuana penny stock to watch.