Harvest Health & Recreation Inc (OTCMKTS:HRVSF) represents an interesting possible opportunity for those looking for a bottom to come into the stock as it tests support with a strong growth narrative.
The latest from the company is its move to expand further in the Sunshine State (Florida) with a new dispensary in the robust and thriving college town of Gainesville, with its 45,000 UF students.
According to the release, “Harvest holds licenses in Florida for up to 35 medical dispensaries, one cultivation facility, one manufacturing facility, and has operational dispensaries in the Orlando and Tallahassee markets. Nationwide, pending finalization of recent acquisitions, Harvest will have rights to more than 210 facilities, approximately 135 of which being retail locations, in 18 states and territories across the country.”
Harvest Health & Recreation Inc (OTCMKTS:HRVSF) bills itself as Harvest Health & Recreation Inc. cultivates, manufactures, and retails cannabis in the United States. The company is headquartered in Vancouver, Canada.
Harvest Health & Recreation Inc. is one of the first consistently profitable, vertically integrated cannabis companies with one of the largest footprints in the U.S. Harvest’s complete vertical solution includes industry-leading cultivation, manufacturing, and retail facilities, construction, real estate, technology, operational, and brand building expertise — leveraging in-house legal, HR and marketing teams, along with proven experts in writing and winning state-based applications.
The company has more than 525 employees with proven experience, expertise and knowledge of in-house best practices that are drawn upon whenever Harvest enters new markets. Harvest’s executive team is comprised of leaders in finance, compliance, real estate and operations.
Acreage Holdings Inc (OTCMKTS:ACRGF) has been an unmitigated disaster in the past few months. Shares are down over 50% in the last couple months and now trade at new all-time publicly traded lows.
But, there is hope and a potential for a new future. The company just announced the appointment of Gretchen McCarthy as Vice President of Retail Operations.
According to the release, “Ms. McCarthy will be responsible for providing leadership and direction to Acreage stores across Acreage’s national retail portfolio, which includes licenses to open up to 88 dispensaries (including pending acquisitions) in the U.S. Ms. McCarthy will report to Chief Operating Officer, Robert Daino.”
Acreage Holdings Inc (OTCMKTS:ACRGF) bills itself as a principal investment firm specializing in the cannabis industry.
This is a vertically integrated, multi-state owner of cannabis licenses and assets in U.S. states where either medical and/or adult use of cannabis is legal. With one of the largest geographic footprints of any cannabis companies, it currently owns and/or operates cultivation, processing and dispensary operations. The Company is dedicated to building and scaling operations to create a seamless, consumer-focused branded cannabis experience.
The stock is now seeing a clear bullish divergence on the RSI, with a lower low in PPS against a higher low in the RSI. That has been known to spark a technical bottom, so we wanted to put it front of you this morning.
Medmen Enterprises Inc (OTCMKTS:MMNFF) is another bottoming candidate. The company has been somewhat mired in controversy but has a foothold on US cannabis market exposure. The company just announced that MedMen pre-roll singles and multipacks are available for purchase at its recently-opened West Palm Beach location.
According to the release, “Available strains include White Widow, Bubblegum OG, and Dr Who. To bring these products to the West Palm Beach community, the Company’s state-of-the-art cultivation and production facility located in the city of Eustis completed its first harvest of smokable flower in the state of Florida.”
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.