|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||5.96 - 6.31|
|52 Week Range||3.60 - 10.85|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
PHOENIX, June 19, 2019 /PRNewswire/ -- Harvest Health & Recreation (CSE: HARV, OTCQX: HRVSF), a vertically-integrated cannabis company with one of the largest and deepest footprints in the U.S., today announced that Steve Gutterman, President, will present live at VirtualInvestorConferences.com on June 20th. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event. Headquartered in Tempe, Arizona, Harvest Health & Recreation, Inc. is a multi-state cannabis operator (MSO) and vertically-integrated cannabis company.
Harvest Health & Recreation Inc (OTC: HRVSF) has four areas of focus, CEO Steve White told Benzinga: team development, acquisition via winning licenses or buying companies, long-term brand development and always keeping an eye on its ROI. Harvest is exceeding its expectations in these categories, White said in a recent interview. Earlier this month, Harvest announced that some of its CBD brands will appear in 10,000 U.S. convenience stores.
Harvest Health & Recreation, Inc. (CSE: HARV, OTCQX: HRVSF) a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., announced today the appointment of Nicole Stanton as VP and General Counsel and Allyson Wilcox as Assistant General Counsel.
Harvest Health & Recreation, Inc. (CSE: HARV, OTCQX: HRVSF) (“Harvest”), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., was awarded a dispensary license to operate in Pasadena1, (subject to the local Conditional Use Permit process and state regulatory requirements), marking the seventh California license for the fast-growing company. Harvest was among the top-scoring applicants from a pool of 128 applications to obtain licenses in the city, receiving top recognition for its high-level of sophistication, best-in-class experience, and world-renowned team of experts in operating quality-driven retail stores with a focus on bettering the community.
The Q1 results confirm Harvest Health & Recreation (HRVSF) is positioned to take the market lead in the domestic cannabis sector. Within months, the Arizona-based cannabis company has gone public via an RTO and acquired numerous businesses to create massive scale. The market has yet to catchup to these facts providing the opportunity as the Canadian companies still grab the headlines.Only Starting For Q1, Harvest Health reported modest revenues of $19.2 million. Revenue only grew 14% compared to the prior quarter when some industry players are doubling revenues sequentially.The key to the story is that Harvest Health is only getting started. The company had an incredible pro-forma revenue base of $51 million when including the operations of acquisitions of Falcon, Verano, Devine and CannaPharmacy that are in the works.Just as important, the cannabis company only had 13 retail locations in 5 states open at the end of March. Harvest Health expects to have the largest footprint in the U.S. with rights to 230 facilities that include 142 retail locations covering 17 states. The company expects to double retail locations in the next few months.One big question that is likely holding down the stock below $7 is the soaring expense structure. One of the benefits to the U.S. stocks over the Canadian industry was a stronger focus on cost control.For the quarter, Harvest Health slipped to an adjusted EBITDA loss of $4.7 million. The net loss soared to $20.0 million as hiring and expanding operations boosted general and administrative expenses to $18.4 million.A big part of the increases was from transaction costs and share-based compensation costs that are non-cash, but the company still saw financials impacted by rapid expansion plans. The market should eventually look past these losses, if the company can trim them as the deals close and Harvest Health turns them into operating efficiencies.Stock PriceA key to the story and whether the stock hits the GMP Securities target of doubling to ~$14 is based solely on returning the financials to the black in a meaningful way. The company is already generating pro-forma annualized revenues of $200 million making the $350 million 2019 revenue target and $900 million 2020 target as possible.The stock only has a market cap topping $3 billion once the deals close providing an incredible value to shareholders. If the company hit 30%+ EBITDA margins as forecast on revenues approaching $1 billion in 2020, the stock is only trading at a level approaching 10x those EBITDA targets for next year. The stock market normally offers valuation 2-3x those levels for a fast growing company.TakeawayThe key investor takeaway is that Harvest Health continues to build a market leader in the large domestic cannabis sector. As 2019 progresses and the company closes all of the outstanding deals, the scale of Harvest Health will start grabbing more market attention.The biggest catalyst remains federal approval of cannabis in the future and an uplisting of the stock. As long as the stock doesn’t trade above daily volumes in the millions like the Canadian stocks listed on major stock exchanges, Harvest Health remains a relatively unknown stock. With the 30% dip from the April highs at $10, the stock remains one of the hidden gems in the cannabis sector.To read more on the nitty gritty of what’s going on in the rising cannabis industry, click here. Read more: * Time to Buy the Dip in Harvest Health & Recreation * Health & Recreation Is Very Appealing Based on Long-Term Bullish Fundamentals More recent articles from Smarter Analyst: * Conatus (CNAT) Stock Price Could Hit Zero * Tesla (TSLA) Scrambles to Restore Faith; Wedbush Remains Cautions on the Stock * Micron (MU) Stock Has a New Bull * Has Roku Stock Price Hit Its Peak?
Flower products now available at all Florida locations, join tinctures, vapes and capsules with pre-rolls coming soon. Harvest Health & Recreation, Inc. (CSE: HARV, OTCQX: HRVSF) (“Harvest”), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., announced the opening of its third, fourth and fifth Florida medical marijuana dispensaries. 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.
Cannabis stocks traded broadly higher Tuesday, as an upbeat industry research note helped provide a welcome reprieve from the string of losses resulting from concerns over regulatory scrutiny and general stock market weakness.
How Cannabis Players Fared in May amid the Market Sell-Off(Continued from Prior Part)Harvest Health & RecreationHarvest Health & Recreation (HRVSF) released its first-quarter earnings results on May 31. It generated revenue of $19.2 million
Largest trade association network of independent convenience stores and gas stations – Asian American Trade Associations Council – to welcome Colors, CBx Essentials and Harvest branded product lines through their implementation partner system. Convenience stores and gas stations expected to capture $8-10b of $22b CBD market. Harvest Health & Recreation, Inc. (CSE: HARV, OTCQX: HRVSF) (“Harvest”), vertically-integrated cannabis company with one of the largest and deepest footprints in the U.S., today announced the signing of an agreement to bring their popular Colors, CBx Essentials and Harvest-branded CBD product lines to more than 10,000 retail stores, including convenience stores and gas stations across the country.
NEW YORK , June 4, 2019 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced the launch of the OTCQX® Cannabis Index ...
PHOENIX-- -- Total revenue for the three months ended March 31, 2019 increased 131% from prior year. Total revenue for Q1 2019 increased 14% compared to Q4 2018. Adjusted EBITDA for the 3 months ended March 31, 2019 was million . Harvest Health & Recreation, Inc. , a vertically-integrated cannabis company with one of the largest and deepest footprints in the U.S., today reported the company’s first ...
Harvest Health & Recreation, Inc. will hold its First Quarter 2019 earnings conference call on Friday, May 31, 2019, 8:00 AM .
Harvest Health & Recreation, Inc. (CSE: HARV) (OTCQX: HRVSF) (“Harvest”), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., announced that CEO Steve White will deliver the keynote address at the 6th annual Cannabis World Congress & Business Exposition, May 30th at the Javits Center in New York City. President Steve Gutterman will kick off the conference’s investor symposium on May 31st and Director of Community Outreach Marc Ross will join a panel discussion on social equity partnerships and research also on the 31st. Steve White’s keynote, “Cannabis Investing Today and Tomorrow: Cutting through the Chatter and Focusing on Basic Financials/Growth Strategies,” will take place May 30th at 10:30 a.m. EDT.
The company offered unsecured convertible debentures at a price of $1,000 per unit. The debentures have a maturity date of May 9, 2022, and bear interest at 7 percent per year. Harvest said it plans to use the net proceeds from the offering to fund working capital and for general corporate purposes.
Harvest Health & Recreation, Inc. (CSE: HARV, OTCQX: HRVSF) (“Harvest” or the “Company”), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., is pleased to announce that it has closed the first tranche of its previously announced brokered private placement of 7% unsecured convertible debentures (the “Convertible Debentures”) of the Company, at a price of US$1,000 per Convertible Debenture (the “Issue Price”) for gross proceeds of US$100,000,000. Eight Capital is acting as agent for the offering. The Company intends to use the net proceeds of the offering to fund working capital and general corporate purposes.
PARAMUS, N.J., May 6, 2019 /PRNewswire/ -- Steve White, CEO of Harvest Health & Recreation, will deliver a Keynote Address, entitled: "Cannabis Investing Today and Tomorrow: Cutting through the Chatter and Focusing on Basic Financials/Growth Strategies," at the 6th Annual Cannabis World Congress & Business Exposition (CWCBExpo) taking place May 29 – June 1 at the Javits Center in New York City. White's Keynote will take place on Thursday, May 30th at 10:30 am. In his highly anticipated CWCBExpo address, he will provide a high-level view of the state of the cannabis industry, opportunities for growth and the current investment climate. CWCBExpo NY is the only event in the tri-state area focused on the entire legalized cannabis industry including medical marijuana, adult recreational use and industrial hemp.
Harvest Health & Recreation, Inc. (CSE: HARV, OTCQX: HRVSF) (“Harvest”), a vertically-integrated cannabis company with one of the largest and deepest footprints in the U.S., announced the appointment of Alex Howe as head of corporate communications, effective immediately. Howe, the former President of Powerplant Global Strategies, the first strategic partnerships, communications and investor relations firm exclusively focused on the legal cannabis industry, will be responsible for managing and directing the company's internal and external communications and strategy, reporting to Harvest Chief Marketing Officer Kevin George.
This newly-introduced cannabis exchange-traded fund is holding 32 pot stocks -- but it's not nearly as diversified as it sounds.
Harvest Health & Recreation, Inc. (CSE: HARV, OTCQX: HRVSF) ("Harvest"), a vertically integrated and highly diversified cannabis company with a strong financial and growth profile, would become the largest multi-state operator (MSO) in the U.S. following closing of a definitive agreement signed on April 22, 2019 (the "Business Combination Agreement") to acquire (the "Transaction") Verano Holdings, LLC ("Verano"), as previously announced by press release dated March 11, 2019. Verano is one of the largest privately held multi-state, vertically integrated licensed operators of cannabis facilities with an extensive portfolio of premium branded products. Pursuant to the terms of the Business Combination Agreement, securityholders of Harvest and Verano will become securityholders in the combined company which will carry on the business of Harvest and Verano (the "Resulting Issuer").