cbdMD And IM Cannabis Partner To Sell CBD Products In Israeli Markets

CANNANNEW REPORT

Summary Israel is expected to pass legislation in September, legalizing CBD and decriminalizing cannabis. cbdMD has granted IM Cannabis the exclusive right to import and sell their CBD products in Israel. cbdMD reported Q3-2021 CBD revenues of $10.6M and operates at a net income. IM Cannabis reported Q1-2021 cannabis revenues of CA$7M and operates at a net income. I rate both companies as a neutral buy and recommend that investors watch their financial performance.   Tinnakorn Jorruang/iStock via Getty Images   cbdMD (YCBD) manufactures and sells broad spectrum CBD products for humans and pets. IM Cannabis (IMCC) is a multi-national cannabis operator with operations in Canada, Israel, and Germany. IM Cannabis will be ready to sell cbdMD’s products as soon as the Israeli government passes the legislation. The partnership allows both companies to gain from Israel’s estimated $475M CBD market. Both companies have recent business developments worth noting and this partnership will create some synergy for them. Neither of the companies currently presents strong buy signals. cbdMD recently posted their Q3 quarterly reports Thursday after-hours and showed a consistent revenue stream from quarter to quarter as well as a net income. IM Cannabis also works at a net income and reports consistent revenues. The company predicts Q3-2021 will contain a significant increase in revenues from their current business strategies. My investment thesis is to watch the two companies closely. Ideally, the companies will have increased revenues from their operations and their financial statements will improve. The larger market is not bullish on cannabis nor CBD for the time being. I rate the companies as a neutral buy and believe that a buy-signal may present itself over the next year, as finances improve as well as stock price movements. Partnership and Israeli CBD market By the end of September, the Israeli government is expected to pass a bill…

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Source : cbdMD And IM Cannabis Partner To Sell CBD Products In Israeli Markets

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