Wednesday, June 29, 2022

General Cannabis Corp (OTCMKTS:CANN) Hits 52-Week High on Bullish Outlook

General Cannabis Corp (OTCMKTS:CANN) is a cannabis company with a diverse portfolio that recently popped back on our radar. Solid financials have been an important catalyst for CANN from its 52-week low. Record high revenues for the three months ended in September strengthened investor confidence on the stock, triggering a buying spree. CEO, Robert Frichtel, expects further revenues given the high demand for services in Next Big Corp segment. The unit helps companies submit applications for medical and recreational marijuana business licenses from which it generates some returns.
“We remain focused on managing discretionary spending throughout the quarter and enter the end of the year poised for growth. We continue to spend on infrastructure and people that will drive future profitability. We are committed to building and expanding the best platform in the regulated cannabis industry and providing our customers with the highest quality services,” Mr. Frichtel added.
General Cannabis Corp (OTCMKTS:CANN) bills itself as a company that provides services to the regulated cannabis industry in the United States. The company engages in the acquisition and leasing of cultivation space and related facilities to licensed marijuana growers and dispensary owners; and provision of security services, including on-site professionals, video surveillance, and cash transport to licensed cannabis cultivators and retail shops.
CANN also designs, distributes, and sells apparel featuring graphic designs; and offers consulting services to the cannabis industry that comprise obtaining licenses, compliance, cultivation, logistical support, facility design, and building services. In addition, General Cannabis Corporation provides shared office space, networking, and A event services; and leases cultivation equipment and facilities.
According to company materials, “General Cannabis Corporation is the comprehensive resource for the highest quality service providers available to the regulated Cannabis Industry. We are a trusted partner to the cultivation, production and retail side of the cannabis business. We do this through a combination of strong operating divisions such as real estate, consulting, security, financing and the distribution of important infrastructure products to grow facilities and dispensaries. As a synergistic holding company, our subsidiaries are able to leverage the strengths of each other, as well as a larger balance sheet, to succeed.
Incorporated in 1987, General Cannabis Corp is a leader in the cannabis industry based in Denver, Colorado which prides itself in being a comprehensive resource for the highest quality service providers available to the regulated Cannabis Industry.
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Also, CANN snatched up GC Finance Arizona in June. The acquisition has since expanded the company’s footprint in the medical marijuana-infused products.
GC Finance produces and sells a full line of medical marijuana products led by Dixie Elixirs and Edibles products in the state of Arizona. The company joined General Cannabis with 14,000 square feet of idle space and gross revenue of $194,000 in 2017
“We look forward to working with our partners to introduce and produce the highest quality infused products for the medical marijuana industry in the state of Arizona,” said Michael Feinsod. “Closing on this milestone expands our public company platform and further diversifies our revenue stream, which will create significant shareholder value.
General Cannabis Corp (OTCMKTS:CANN) has earned a market cap of $86.19M and has added significant market cap since we last wrote about them. We will be updating readers soon as more information comes out. We will be updating readers soon. Sign-up for continuing coverage on shares of $CANN stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $CANN, either long or short, and we have not been compensated for this article.

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