Originally appeared in Oracle Dispatch written by James Hudson
We continue to view Marimed Inc (OTCMKTS:MRMD) as one of the most interesting stories in the cannabis space right now, given the stock’s combination of a genuine under-the-radar feel and its clear sector outperformance. To that end, the company just reported its Q3 financial numbers, which helped to hold it above all of its major technical markers, including both major moving averages.
According to the release, “For the quarter ended September 30, 2018, revenues nearly doubled from the same period a year ago, increasing 98% from approximately $1.7 million to approximately $3.4 million. The Company continued to grow quarterly year-over-year revenue since the second quarter of 2016. Also during this time period, operating income nearly tripled from the same period a year ago, increasing 200% from approximately $287,000 to approximately $861,000.”