Harvest Health Projects $1 Billion in 2020 Revenues
Harvest Health & Recreation, Inc. has maintained its revenue stance within the cannabis market after news on cannabis vapes entered the media’s focus. Cannabis vapes were brought into the spotlight of the news media after illegally manufactured blackmarket vape cartridges caused illnesses to occur in its users. Due to this news, markets have pulled and stopped the sales of vape products and have impacted some company sales. It is reported that 20%-30% of sales for U.S. cannabis companies come from vape products and that California exceeded 30% in vape cartridge sales in the month of October.
The company hasn’t seen a revenue issue since the vape news started and continued to stay on track even after the decline in vape sales would be noticeable in a quarterly report. The cannabis sector has seen a valuation decline overall due to the news, but Harvest Health has a potential FY2020 outlook that could position those who invest now for great returns next year.
The company has three mergers that are expected to close within a short period of time. Mergers with Falcon, Verano Holdings and CannaParmacy are expected to increase the company’s 2020 revenues. It was confirmed by Harvest Health that the revenue growth will reach 2020’s revenues to $900 million and near $1 billion on Earnings before Interest Taxes Depreciation and Amortization (EBITDA) at 30%. Cannabis market investors may want to highly consider Harvest Health & Recreation as a potential addition to their investment portfolio. The stock is at yearly lows due to the recent vape news, but the revenues and projected earnings indicate that a high return on investment might be possible.
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