Cannabis Stock with Impressive Footprint Continues To Grow | Columbia Care $CCHW $CCHWF
Columbia Care Inc (CNSX:CCHW, OTCMKTS:CCHWF) is a cannabis consumer packaged goods (CPG) company that built an impressive 18 jurisdictions footprint in US and European markets. The company currently operates 131 facilities, including 99 dispensaries and 32 cultivation & manufacturing facilities. In just a few years, Columbia Care’s expansion has allowed the company to increase sales from $77.45 million in 2019 to $179 million in 2020, generating $132.2 million in quarterly revenues in the last three months.
“I think the one thing that Columbia Care has, that’s a bit unique, is the footprint. As we continue to go deeper operationally in the markets where we have that presence, as we roll over into the new retail experience cannabis to the country, launching these brands that have been incredibly well adopted and welcomed by our communities, we continue to see that lift. The growth is incredibly exciting. A lot of it has to do with sweating the assets and continuing to expand into markets that we have that footprint. I’d be lying if I said that the brand launches and retail changes haven’t had a pretty significant impact on it as well.” – Columbia Care CGO Jesse Channon
Columbia Care was historically a medical cannabis brand but has now expanded to include a variety of in-house recreational brands. In addition, the company has recently added the iconic heavyweight boxing champion Mike Tysons’s Tyson 2.o cannabis brand to its portfolio. Tyson 2.0 is a brand in its own right, but CCHW will help “give the brand the scale it needs to get across as many markets as quickly as possible”.
It is an exciting time for the company and the cannabis industry with relatively low valuations and catalysts for growth on the horizon. An upcoming uplisting to the NYSE/NASDAQ or the Federal legalization of cannabis will provide a massive boost to the company’s share price.
[Federal legalization is] “a multiplier, not incremental. That doesn’t mean our current customer set is going to consume 3, 4, 5x as much cannabis a year. It means we don’t know 40, 50, 60, 80 percent of our customer base yet. When you look at some of these markets where you have a bumper crop situation with fragmented supply chains, we still have a lot of growing to do as a total addressable market.” – Columbia Care CGO Jesse Channon
Watch the full interview to learn what’s driving Columbia Care’s revenues, its growth strategies, and what’s behind the company’s award of a platinum MarCom award.
00:00 – Columbia Care Chief Growth Officer Jesse Channon
01:05 – What’s driving revenue growth?
02:30 – Mike Tyson 2.0 products
05:04 – Organic growth & acquisition strategy
06:00 – Platinum MarCom Award
07:49 – Financial performance
09:46 – Federal legalization
11:54 – Future market growth