Marimed Inc (OTCMKTS:MRMD) shares rallied sharply on Thursday. The move represented a one-day gain of better than 21%.
There wasn’t any clear and immediate catalyst driving the action on Thursday, but the move follows closely in the wake of news of a licensing agreement with Denver-based Binske, which offers an innovative range of diverse cannabis products.
The deal may represent a rich furrow of new potential for the company and the value proposition it presents to its shareholders.
According to the release, “Under the terms of the agreements, MariMed is licensed to manufacture and distribute the Binske portfolio of products in seven states: Illinois, Ohio, Massachusetts, Rhode Island, Maryland, Delaware, and Maine, adding substantially to the availability of Binske brands, which are currently licensed in Colorado, Nevada, Florida, and California. The Binske brands include a variety of consumer options, including concentrates, edibles, vaporizers, and topicals.”
Marimed Inc (OTCMKTS:MRMD) is an industry leader in the design, development, operation, funding, and optimization of medical cannabis cultivation, production, and dispensary facilities. MariMed’s team has developed state-of-the-art, regulatory-compliant legal cannabis facilities in multiple states.
These facilities are models of excellence in horticultural principals, cannabis production, product development, and dispensary operations. MariMed is on the forefront of precision dosed cannabis medicine for the treatment of specific medical conditions. MariMed branded products are being licensed and distributed in legal cannabis states across the country.
Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF) has been back on the move in a big way. We discussed this stock in our recent analysis, suggesting it may have some serious upside potential as effectively the only truly viable pure-play in the CBD space that is rapidly and successfully expanding.
That bias is getting some help from recent headlines as the company announces an extension of its research initiative with The Center for Discovery in New York State to further develop hemp genetics for optimal growing in the region.
According to the release, “The groundbreaking project has been helping to solidify Charlotte’s Web’s expansion within the Eastern Appalachian Region by determining which hemp varieties grow the best under the regional microclimates and local terrain. Now in its third year, the initiative has steered Charlotte’s Web’s breeding program in the production of superior varieties that will support the efforts of local farmers and position the Company for success in New York and surrounding states with similar growing conditions. The Company is also partnered with farmers in Kentucky to produce optimal hemp varieties for its CBD products, and it recently announced a separate organic hemp farming research initiative in the state of Pennsylvania with Rodale Institute and Natural Care.”
Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF) bills itself as a company that develops and distributes hemp-based cannabidiol (CBD) wellness products. Its products include CBD hemp oils, capsules, topicals, and pet products that feature CBD hemp oil extracts. Charlotte’s Web Holdings, Inc. sells its products online as well as through distributors, and brick and mortar retailers.
The action this week represents a clear breakout above recent range highs on a massive surge in volume, and it bears continued focus for traders interested in the CBD space.
Auxly Cannabis Group Inc (OTCMKTS:CBWTF) has been on a tear in recent action, with shares breaking out sharply to the upside over the past few sessions.
The big catalyst for the move is quite clear: The company announced that Imperial Brands PLC will invest approximately $123 million in Auxly by way of a convertible debenture and grant Auxly global licenses to Imperial Brands’ vaping technology and access to its vapor innovation business, Nerudia.
“This investment from Imperial Brands will enhance Auxly’s ability to continue to deliver on our business plans and accelerate our growth initiatives to expand our portfolio of branded derivative products,” said Hugo Alves, President of Auxly. “The timing is ideal as we prepare to bring our portfolio of innovative cannabis products to the Canadian market following the legalization of edibles, extracts and topicals later this year.”
Auxly Cannabis Group Inc (OTCMKTS:CBWTF) operates as a cannabis streaming company.
It provides funding for cannabis production; and holds contractual rights and minority equity interest relating to the operation of cannabis facilities. The company was formerly known as Cannabis Wheaton Income Corp. and changed its name to Auxly Cannabis Group Inc. in June 2018. Auxly Cannabis Group Inc. was incorporated in 1987 and is headquartered in Vancouver, Canada.
The new deal has helped to spring shares out of a downward trend and launch the stock above its major moving averages for the first time in months. Volume continues to demonstrate a fresh sense of interest among traders and investors.