Jushi Holdings, Inc. (OTCMKTS:JUSHF) a company engaged in the ownership and operation of cannabis and hemp licenses in the United States is on an expansion spree with the opening of several new stores. These new openings would certainly generate handsome revenue for the company but that too doesnot guarantee for stock to soar high as the company is recently running out of the management’s hands.
In the wake of the current movement of the meme stocks, nothing is certain and concrete as the stock of strong and fundamental businesses dwindle and what appears to be garbage bin companies on the verge of bankruptcy have seen their share prices booming thereby making its investors rich. Jushi Holdings, currently caters to the former category but then that doesnot mean that it doesnot have the potential to boom. The company has been generating more revenue than before and has a consistent track-record of selling marijuana.
Looking at numbers despite the stock of the company being low by 15%, the Q1 reports of the company shows positivity with its quarterly revenue up by 382.7% year over year. With strong operations in the three states namely Pennsylvania, Illinois and Virginia, the company anticipates to raise a revenue of as much as $48 million in the second quarter.
In order to fulfil its goal, the company further plans to open 12 more stores in this year. Parallel to its retail expansion, if cannabis legalization occurs in the U.S. at the federal level, Jushi is well-positioned to benefit. Its existing network of retail locations already serves both recreational and medicinal consumers, so it could easily serve a wide range of customers. Thus, with the reporting of the favourable financial results and the upcoming potential, nothing should deter an investor from investing.