2. iAnthus
iAnthus Capital Holdings (OTC:ITHUF) has a market cap of just over $200 million. The U.S.-based stock is a much more modest buy as it has recorded sales of only $53 million over the trailing 12 months. It trades at four times revenue, so investors have also not valued it as highly as they have the big-name pot stocks in the industry.
Things certainly did not go as expected in 2019 for the cannabis industry. It was expected to be a year of breakthroughs, with growth in Canadian recreational weed sales and additional U.S. legalizations pushing the broader industry toward profitability. But by year's end, the vast majority of cannabis stocks remained unprofitable, and pot stocks took a beating.
The deal is now official, as iAnthus Capital Holdings, Inc. has closed on its acquisition of MPX Bioceutical Corporation.
The combined company now has operations in 11 states which includes 63 retail locations and 15 cultivation/processing facilities.