Congratulations to our followers who took action after we alerted MRMD last week at $0.42. Since then we have seen the stock trade nicely while rising to and closing today at a high of $0.67 (60% gain). We have also seen a steady increase in trading volume. This is all very bullish and bodes well for future price action.
We can attribute the increase in volume and price to fundamental and technical factors. On November 15, 2017 MRMD released record financial results. See link to full press release below.
These stellar financials combined with a bullish ascending triangle chart formation helped the stock fully reverse and breakout upward. Take a look at the chart below and you will see the clear triangle formation followed by a textbook breakout above resistance on increased volume. It doesn’t get much cleaner then this.
It’s important to note that MRMD has no toxic debt and the insiders control roughly 70% of the outstanding shares. This allows the stock to move easily due to the small float. You don’t see this situation very often on the OTC. Very bullish to say the least.
With the reversal confirmed and the uptrend resumed MRMD will now look to potentially reach and breakthrough the 52 week high of $0.84. Stay tuned by following us on all our social media outlets for further updates on MRMD.
MariMed Inc. Reports Record 3rd Quarter 2017 Financial Results: http://bit.ly/2zHShjA
What is an Ascending Triangle?
An ascending triangle is formed by a flat top or equal highs and higher lows. This triangle is a bullish pattern that can be a continuation in an up move or a reversal at support on a down move.
Recent Press and Media:
MariMed Expands to Maryland with Opening of Cannabis Cultivation Facility in Hagerstown http://bit.ly/2AZE5zL
MariMed Acquires Betty’s Eddies to Expand Precision Dosed Cannabis Product Lines http://bit.ly/2yiKWmV
MariMed Inc. Reports Record Third Quarter 2017 Financial Results http://bit.ly/2zHShjA
MariMed Inc. Begins National Expansion of Cannabis Infused Product Line In Nevada http://bit.ly/2zVNLPx
MariMed Expanding Kalm Fusion™ Cannabis Products to Multiple States http://bit.ly/2ACgJQK
Due Diligence Links:
Corporate Website: https://marimedadvisors.com/
Follow MariMed on Social Media:
This report/release/profile is a commercial advertisement and is for general information purposes only. We are engaged in the business of marketing and advertising companies for monetary compensation unless otherwise stated below. The Wealthy Venture Capitalist and its employees are not a Registered Investment Advisors, Broker Dealers or a member of any association for other research providers in any jurisdiction whatsoever and we are not qualified to give financial advice. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data. Sometimes human error can attribute to honest mistakes in reporting on issues regarding public companies and overall capital markets, and as such we are not responsible for the complete accuracy in these reports as the reader is required to verify all statements to ensure they are completely accurate. The Wealthy Venture Capitalist’s controlling parent company has been compensated $9,500 per month for 12 months by MariMed Inc. (MRMD). The Wealthy Venture Capitalist’s controlling parent company has also been compensated 325,000 restricted shares by MariMed Inc. (MRMD). The Wealthy Venture Capitalist encourages readers and investors to supplement the information in these reports with independent research and other professional advice. All information on featured companies is provided by the companies profiled through their website, news releases, and corporate filings, or is available from public sources and The Wealthy Venture Capitalist makes no representations, warranties or guarantees as to the accuracy or completeness of the disclosure by the profiled companies. The Private Securities Litigation Reform Act of 1995 provides investors a ‘safe harbor’ in regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact may be “forward looking statements”. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as “projects,” “foresee,” “expects,” “will,” “anticipates,” “estimates,” “believes,” “understands,” or that by statements indicating certain actions “may,” “could,” or “might” occur. Understand there is no guarantee past performance will be indicative of future results. Past Performance is based on the security’s previous day closing price and the high of day price during our promotional coverage. Readers must visit our website at www.