Multistate Pot Stock Bullish on Strong Q1 Results & Acquisitions

Multistate Pot Stock Bullish on Strong Q1 Results & Acquisitions

Multistate Pot Stock Bullish on Strong Q1 Results & Acquisitions: After a strong 2017 and the formation of a new company, Multistate Cannabis Corp (MCC) is primed to make another strong start to 2018. The company announced strong fourth quarter results, with a net income of $1.9 million for the quarter, a 30.9% increase over the same period in 2017.

Check out Cannalife, a multistate cannabis company (MMJ) that has gone public (OTC: CMLF) and is now traded in the US over-the-counter market. Cannalife is a ‘marijuana’ company which means it intends to develop and sell marijuana. These are different than an ‘edibles’ company which makes food for people to eat and a ‘smoke’ company which makes the products for people to smoke. Cannalife is the one of the largest companies in the cannabis industry, and is now listed on the Canadian Securities Exchange (CSE) under the symbol CMLF. Cannalife’s goal is to become the world’s leading supplier of cannabis products

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Jushi Holdings Inc began trust 2021.

Jushi Holdings Inc. (CNSX:JUSH, OTCMKTS:JUSHF) is a multi-state cannabis stock that remains under the radar despite the fact that the company reported stunning financial results and announced several strategic acquisitions. But that doesn’t mean Jushi stock hasn’t rewarded savvy investors. JUSHF shares are up 481% since the beginning of the year and 72% over the past six months. Despite these huge gains, Jushi’s stock is only beginning to rise – at least according to Wall Street. Of the seven analysts who provide a 12-month price target for JUSHF stock, the median is $10.00, which represents a 72% increase from current levels. The high valuation of $11.59 suggests that Jushi shares could double in the next year. Why so many bulls? Jushi Holdings Inc. announces strong financial results. In 2020, the company’s revenues increased 690% year-on-year to $80.8 million and gross profit increased 760% to $41.5 million. In addition, the operating loss is down from $34.2 million in 2019 to $10.5 million. In the first quarter, the company was able to significantly increase its revenue and gross profit. The company also reported positive adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the third consecutive quarter.

JUSHF Stock list

Jushi Holdings owns and operates cannabis cultivation, processing and retailing licenses in several states. The main markets are Virginia, Pennsylvania, Illinois and Massachusetts. The emerging markets are Ohio, Nevada and California. (Source: About, May 2021, Jushi Holdings Inc, last visited June 3, 2021). As of the date of this report, the operations of Jushi Holdings Inc. include 18 stores under the BEYOND / HELLO brand. The company plans to open 16 more. The company also operates five crop farms and five mining and processing facilities. The company’s brand portfolio includes The Bank, The Lab, Nira, Nira Medicinals, Seche and Tasteology.

Purchase of a natural product

In April, Jushi Holdings announced plans to acquire Nature’s Remedy of Massachusetts, Inc. a vertically integrated single-state cannabis operator, for a total consideration of up to $110 million. (Source: Jushi Holdings Inc. expands footprint with acquisition of vertically integrated operator in Massachusetts, Jushi Holdings Inc, April 19, 2021). Nature’s Remedy currently operates two retail pharmacies, one in Millbury, MA and one in Tingsboro, MA. The company also operates a 50,000 square foot cultivation and production facility in Lakeville, Massachusetts, with approximately 19,500 square feet of marijuana flower, extraction and indoor production capacity. Nature’s Remedy plans to expand its marijuana facility to approximately 31,000 square feet by the second half of 2021. Currently, the production of marijuana flower at the Lakeville plant is about 6,800 pounds per year. With the upcoming expansion, Nature’s Remedy will be able to increase this amount to around £11,000 per year. Nature’s Remedy is exploring options for expansion at its existing industrial complex in Lakeville and/or a 10-acre parcel of land that Nature’s Remedy owns in Grafton, Massachusetts. The site in Grafton could accommodate a new 35,000- to 40,000-square-foot facility with a marijuana shed of about 18,000 square feet.

Acquisition of Dalitso LLC

In May, Jushi Holdings completed its previously announced acquisition of the 93,000-square-foot facility, which is operated by its Virginia-based subsidiary Dalitso LLC Pharmaceuticals. (Source: Jushi Holdings Inc. completes acquisition of Dalitso LLC facility and land in Prince William County, Virginia, Jushi Holdings Inc. on May 5, 201) The acquisition also includes approximately nine acres of adjacent property in Prince William County, Virginia. The total cost of the acquisitions was approximately $22.0 million. Dalitso is one of five applicants who received conditional approval for pharmaceutical treatment from the Virginia Board of Pharmacy and one of four applicants who received final approval and licensure. This license allows Dalitso LLC to grow, process, distribute and deliver medicinal cannabis to registered patients in Virginia. The area where Dalitso will be active is in Northern Virginia, which includes the state’s two most populous counties, Fairfax and Prince William. About 2.5 million people live in the region, which is nearly 30 percent of the state’s total population.

Strong financial results in the first quarter

Jushi announced that revenue for the first quarter of 2021 (ended March 31) increased 29% from the previous quarter to $41.7 million. Gross margin for the first quarter of 2021 was $20.1 million (48.2% of sales), compared to $17.6 million (54.5% of sales) in the fourth quarter of 2020. (Source: Jushi Holdings Inc. announces financial results for the first quarter of 2021 and defers filings for the year and first quarter of 2021, Jushi Holdings Inc, May 28, 2021). The company reported a net loss of $26.1 million, or a loss of $0.17 per share, for the first quarter. Jushi reported a net loss of $148.1 million in the fourth quarter of 2020. The improvement in net loss in the first quarter is attributable to fluctuations in the fair value of derivative liabilities due to changes in the Company’s common stock price and the amount of the warrant liability. Jushi Holdings Inc’s adjusted EBITDA was $3.0 million in the first quarter, compared to $2.0 million in the fourth quarter of 2020. The company also strengthened its balance sheet with two successful equity transactions that raised gross proceeds of approximately $86 million. Jushi closed the first quarter with $167.9 million in cash and short-term investments. The company’s total debt was also $82.4 million. In addition, in the first quarter of 2021, Jushi Holdings Inc:

  • Completion of the above mentioned acquisition of the plant and land of Dalitso Ltd.
  • Acquisition of 100% of Organic Solutions of the Desert, LLC, a pharmacy based in Palm Springs, California, and approximately 78% of a retail licensee based in Grover Beach, California, with the right to acquire the remaining shares.
  • Signing of a definitive agreement for the acquisition of Nature’s Remedy
  • Completion of previously announced acquisition of a well-known operator in Nevada
  • Has begun the first phase of a previously announced expansion project at its agricultural processing plant in Pennsylvania.

Analyst

Jushi Holdings Inc. is an outstanding integrated cannabis company that is expanding its portfolio of cannabis brand assets in multiple states. The company had a strong balance sheet, strong revenue and gross margin growth, and positive adjusted EBITDA for the third consecutive quarter. Through the end of 2021, the company will focus on three areas of growth: opening new retail locations, expanding processing facilities in Pennsylvania and Virginia, and pursuing additional merger and acquisition opportunities.Yesterday, Multistate Pot Stock Bullish on Strong Q1 Results & Acquisitions posted an article ” Multistate Corp. Acquires Two Marijuana Companies .” In the article, a Multistate Pot Stock Bullish on Strong Q1 Results & Acquisitions states, “We are improving our position in the medical marijuana industry with the acquisition of two huge companies that will allow us to grow in the medical marijuana market.”. Read more about jushi stock buy or sell and let us know what you think.

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