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Penny Pot Stock Pick for 2020: Harvest Health & Recreation Inc.

 Harvest Health & Recreation Inc. (OTC: HRVSF) has a future outlook that excites investors with its plans to expand to past 70 dispensaries, 13 cultivation facilities, and 13 manufacturing facilities. But why is Harvest Health & Recreation listed as one of Cannin’s Penny Pot Stock Picks for 2020?.

Identifying which penny pot stocks to invest in can be quite challenging given the current market conditions. As once-popular cannabis companies continue to face unrelenting pressure, like Tilray, Inc. (NASDAQ: TLRY) and Aurora Cannabis Inc. (NYSE: ACB), other marijuana stocks investors overlooked now offer great value and opportunity for investment portfolio growth.

Harvest Health & Recreation Inc. has an aggressive growth strategy that led the company to four acquisitions, including Verano Holdings. The agreement to acquire Verano, an all-stock business combination agreement, consisted of $850 million in shares of Harvest Health. After the completed transaction, Harvest moved up to the operation of 200 facilities in 16 states with 132 retail cannabis dispensaries. This acquisition of Verano is what will make Harvest Health the largest multi-state operator in the United States. But should you invest in this cannabis penny stock?

Why do we like Harvest Health & Recreation as a penny pot stock pick for 2020?

  • Strong Acquisitions: The company has an incredible reach across the U.S. with over 132 retail cannabis dispensaries after it entered into a definitive agreement to acquire Verano in March of 2019. Harvest Health also gained a pharmaceutical grade level extraction process that utilizes ethanol, cannabis brands and over 150 individual cannabis products sold in over 150 dispensaries. Its cultivation capacity expanded to a combined 900,000 sq. ft. in Illinois, Nevada, and Maryland. The company also acquired Falcon in February of 2019 and gained 16 licenses, gained the production capacity of over one million units per month, and distribution into 80% of the retail cannabis dispensaries in California.
  • Strong Finances: Harvest Health has the ability to finance all of its operations for the foreseeable future with a private placement tranche. The price per debenture, $1,000, allowed the company to raise $100 million in debt that comes with the option to convert into stock. The company also raised $300 million through its reverse takeover public offering
  • Strong Revenue Guidance: Pro forma revenue guidance released by Harvest Health left nothing to the imagination – The company expects to make a considerable profit with the assets it gained through acquisitions in 2019. It announced pro forma revenue for 2019 of $350 million to $400 with a 20% EBITDA margin. Harvest Health further expects pro forma revenue of an estimated $900 million to $1 billion on EBITDA margins of approximately 30 to 35%.

Why do we like Harvest Health & Recreation as a penny pot stock pick for 2020?

Harvest Health & Recreation is a cannabis company that will be able to continue its aggressive acquisition strategy and in-turn will generate higher revenues as it captures more of the cannabis market in the United States. As of now, it is very likely that the company will reach the pro forma revenues that it projected this year. When the pro forma revenue is met or exceeded, it will increase the value of Harvest Health shares considerably higher than its current share value.

For these reasons, we believe that an investment made into Harvest Health & Recreation at or near its current price of $2 per share is a good penny pot stock investment opportunity for 2020. The share price of Harvest Health is at an incredible low when the company’s fundamentals are taken into consideration and the reason for its downtrend in value is easily attributed to the widespread selloff of stocks due to COVID-19 virus fears. This is why we think an investment at this very moment is a good opportunity to buy this stock as the price has been pulled down due to external circumstances.

Penny Pot Stock Pick for 2020: Harvest Health & Recreation Inc.

About Cannin: Your Marijuana Investment Experts

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