The Bounce is On the Cannabis and CBD Space (CVSI, CURLF, MMNFF)

The bounce is apparently very much “on” in shares of CV Sciences Inc (OTCMKTS:CVSI) as the stock roars back up the chart in a sector-wide rebound. The action has turned around in a powerful way, and the company’s list of recent catalysts are likely an important part of that equation. For example, the company just announced further expansion of its industry-dominating PlusCBD Oil brand with Harris Teeter.

According to the release, “CV Sciences’ expansion in the Food, Drug and Mass (FDM) retailer channel broadens distribution and availability of the Company’s best-selling PlusCBD Oil Original and Extra Strength Balms, and PlusCBD Oil Roll-Ons to 150 Harris Teeter locations in North Carolina, South Carolina, Virginia, Florida and Maryland. This expansion brings CV Sciences’ PlusCBD Oil distribution to more than 5,400 retail locations throughout the U.S.”

CV Sciences Inc (OTCMKTS:CVSI) bills itself as a life science company, focuses on developing and commercializing novel therapeutics utilizing synthetic Cannabidiol (CBD).

CVSI operates two distinct business segments: a drug development division focused on developing and commercializing novel therapeutics utilizing synthetic CBD; and, a consumer product division in manufacturing, marketing and selling plant-based CBD products to a range of market sectors, including nutraceutical, beauty care, specialty foods, and vape.

Following the CanX Acquisition in December 2015, CV Sciences commenced its preclinical drug development program during the second quarter of 2016. The Company’s drug development efforts include pursuing synthetic-based Cannabidiol drug candidates in areas that have the potential to provide significant improvements in therapeutic patient treatments with sizable addressable markets.

The company was formerly known as CannaVEST Corp. and changed its name to CV Sciences, Inc. in January 2016. CV Sciences, Inc. has primary offices and facilities in Las Vegas, Nevada and San Diego, California.

CV Sciences Inc is led by Michael J. Mona, JR. founder of CV Sciences, Mr. Mona possesses over 30 years of senior management experience in a range of industries including real estate/construction, industrial farming, chemical processing and consumer products. Mr. Mona is a recognized industry leader in hemp farming operations and chemical extraction and has established a global supply chain of hemp-derived products.

CV Sciences Inc (OTCMKTS:CVSI) pulled in sales of $16.9M in its last reported quarterly financials, representing top line growth of 36.5%. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($15.7M against $11.8M).

 

Curaleaf Holdings Inc (OTCMKTS:CURLF) just announced that on Friday, September 27, 2019 Executive Chairman Boris Jordan purchased 100,000 shares of Curaleaf stock on the open market at an average price of $8.21 per share.

CURLF operates as an integrated medical and wellness cannabis operator in the United States.

The Company is the parent of Curaleaf, Inc., a leading vertically integrated cannabis operator in the United States. Headquartered in Wakefield, Massachusetts, Curaleaf, Inc. has a presence in 12 states.

Curaleaf, Inc. operates 30 dispensaries, 12 cultivation sites and 9 processing sites with a focus on highly populated, limited license states, including Florida, Massachusetts, New Jersey and New York. Curaleaf, Inc. leverages its extensive research and development capabilities to distribute cannabis products in multiple formats with the highest standard for safety, effectiveness, consistent quality and customer care. Curaleaf is committed to being the industry’s leading resource in education and advancement through research and advocacy.

Curaleaf Inc.’s Florida operations were the first in the cannabis industry to receive the Safe Quality Food certification under the Global Food Safety Initiative, setting a new standard of excellence.

It cultivates, processes, markets, and/or dispenses a range of cannabis products in various operating markets, including flower, pre-rolls and flower pods, dry-herb vaporizer cartridges, concentrates for vaporizing, concentrates for dabbing, tinctures, lozenges, capsules, and edibles.

Curaleaf Holdings Inc (OTCMKTS:CURLF) generated sales of $64.9M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 38.4% on the top line. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($140.3M against $64.1M).

 

The rebound in the cannabis, hemp, and CBD space has been contagious in recent days, helping to fuel a sector-wide process that has spurred a rebound even in shares of the much-maligned Medmen Enterprises Inc (OTCMKTS:MMNFF). It’s a special place you get to when you are the object of witty satire on South Park. But such is the status of Medmen at present. However, that could also be taken as a contrarian signal. And so far, that’s playing out. To help fuel the fire, the company just announced the opening of three new locations in the state of Florida: St. Petersburg, Key West and Pensacola.

According to the release, “the Company now has four operational stores in Florida, with eight additional store openings in the state planned for the remainder of the calendar year. The Company is licensed for 35 retail locations in the state. Florida is the third most populous state in the U.S. with a robust medical cannabis program serving over 260,000 qualified patients as of August 30, 20191. In June, MedMen opened a location in West Palm Beach, its first in the state, where it has seen over 6,000 visits to date.”

Medmen Enterprises Inc (OTCMKTS:MMNFF) frames itself as a company that, together with its subsidiaries, operates in the cannabis space in the United States.

The company cultivates, produces, possesses, uses, and distributes/retails cannabis in the recreational and medicinal cannabis marketplace. As of June 6, 2018, it owned and operated 18 licensed cannabis facilities under the MedMen brand name in California, Nevada, and New York.

The company frames itself as “the preeminent cannabis company in the United States” with multiple assets and operations in California, Nevada, New York, and Florida. MedMen owns and operates licensed cannabis facilities in cultivation, manufacturing, and retail, and is one of the most well-recognized cannabis brands in the world today.

Headquartered in Los Angeles, MedMen employs more than 800 workers across the United States. It was founded in 2010 by Adam Bierman and Andrew Modlin, two visionary entrepreneurs who saw not just a tremendous business opportunity in the growing legalization of marijuana, but a chance to re-define our society’s relationship with cannabis. MedMen supports sensible, clear and just drug laws.

The Company is the single largest financial supporter of progressive marijuana laws at the local, state and federal levels, giving directly to pro-legalization groups, industry organizations and political candidates.

Traders will note 15% tacked on to share pricing for the listing in the past week. In addition, the listing has seen a growing influx of trading interest, with the stock’s recent average trading volume running 18% over what the stock has registered over the longer term.

“MedMen is proud to expand its retail footprint in Florida,” said Adam Bierman, MedMen Co-Founder and CEO. “We look forward to getting to know our neighbors in St. Petersburg, Key West and Pensacola and are thrilled to offer MedMen’s unparalleled quality in product and experience to these communities.”

MMNFF has about $12.2M in cash on the books, which must be weighed relative to a mountain of over $86M in total current liabilities. The company has been pulling in significant revenues, with over $7M in Q1 of this year, representing over 630% quarterly y/y growth on the top line.

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