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MDCL Bull Pattern Lining Up for Breakout Potential
MDCL
Medicine Man Technologies Inc (OTCMKTS:MDCL) is perhaps the most interesting relative strength play in the cannabis space out there right now. At a time when other pot stocks have been getting slammed, MDCL has held up extremely well. Now, as the space shows indications of green shoots on at least a technical basis, MDCL may continue to outperform, finally unburdened from the sector anchoring.
Medicine Man Technologies Inc (OTCMKTS:MDCL) is capitalizing on recent changes in Colorado state law (namely, passage of HB 19-1090, which will take effect on November 1, and allow for outside investors, venture capitalists and private equity firms to gain investment access to Colorado’s cannabis industry. MDCL has been a well-respected and successful advisor and consultant to firms in the cannabis industry for many years. But this shift in the legal context has created a new opportunity to consolidate production and distribution under the MDCL umbrella in a roll-up that could produce significant revenue growth for a stock that is already cheap relative to peers in the space.
Here’s the company’s CEO on the new bill: “At a time when cannabis is valued at $1.5 billion and is expected to grow to $2.1 billion by 2022 in Colorado alone, this legislation will serve to accelerate Colorado’s leadership position in the entire cannabis industry, and those entities fortunate enough to do business in our state – including our own. This was a tremendous win for the industry and for Medicine Man Technologies.”
In all, the company has entered into binding term sheet agreements to roll up some bread and butter in the Colorado cannabis marketplace, including 12 cultivation facilities, 7 proprietary extraction facilities, 7 manufacturers of infused products, 33 strategically located retail dispensaries, and a state-of-the-art manufacturing, research and development lab that represents Colorado’s first and only active cannabis research license in the state.
This is part of a strong multi-step roll-up strategy from the company. On that strategy, management has been clear about its motivations. The move to grab Canyon is another great example.
MDCL has a significant war chest (4.3M) of cash on the books, One should also note that the company is pulling in trailing 12-month revenues of 10.5M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 24%.
Medicine Man Technologies Inc (OTCMKTS:MDCL) is perhaps the most interesting relative strength play in the cannabis space out there right now. At a time when other pot stocks have been getting slammed, MDCL has held up extremely well. Now, as the space shows indications of green shoots on at least a technical basis, MDCL may continue to outperform, finally unburdened from the sector anchoring.
Medicine Man Technologies Inc (OTCMKTS:MDCL) is capitalizing on recent changes in Colorado state law (namely, passage of HB 19-1090, which will take effect on November 1, and allow for outside investors, venture capitalists and private equity firms to gain investment access to Colorado’s cannabis industry. MDCL has been a well-respected and successful advisor and consultant to firms in the cannabis industry for many years. But this shift in the legal context has created a new opportunity to consolidate production and distribution under the MDCL umbrella in a roll-up that could produce significant revenue growth for a stock that is already cheap relative to peers in the space.
Here’s the company’s CEO on the new bill: “At a time when cannabis is valued at $1.5 billion and is expected to grow to $2.1 billion by 2022 in Colorado alone, this legislation will serve to accelerate Colorado’s leadership position in the entire cannabis industry, and those entities fortunate enough to do business in our state – including our own. This was a tremendous win for the industry and for Medicine Man Technologies.”
In all, the company has entered into binding term sheet agreements to roll up some bread and butter in the Colorado cannabis marketplace, including 12 cultivation facilities, 7 proprietary extraction facilities, 7 manufacturers of infused products, 33 strategically located retail dispensaries, and a state-of-the-art manufacturing, research and development lab that represents Colorado’s first and only active cannabis research license in the state.
This is part of a strong multi-step roll-up strategy from the company. On that strategy, management has been clear about its motivations. The move to grab Canyon is another great example.
MDCL has a significant war chest (4.3M) of cash on the books, One should also note that the company is pulling in trailing 12-month revenues of 10.5M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 24%.
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