Benzinga - by Nicolás Jose Rodriguez, Benzinga Staff Writer.
Jon Levine, CEO of multi-state cannabis operator, MariMed (OTC: MRMD), and Erik Sloane, Global Head of Corporate Listings at Cboe Canada, discussed the evolving Illinois cannabis market at the Benzinga Cannabis Capital Conference.
Levine noted their strong management team, emphasizing their experience and commitment to building a consistent brand. He acknowledged increased competition in Illinois due to more dispensaries and neighboring states like Missouri entering the market.
However, he remained confident in MariMed's brand strength and quality. "Our stock is undervalued compared to competitors," Levine said
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Rescheduling Cannabis The panel also discussed the potential impact of rescheduling cannabis.
Rescheduling, more than safe banking, would significantly benefit the industry by reducing taxes and promoting profitability, Levine said.
"Rescheduling is more important than safe banking. It will make it stronger for people to get into this business," Levine said.
The CEO also highlighted MariMed's disciplined approach to growth, focusing on cash flow and profitability, making them an attractive option for investors.
Sloane mentioned the potential for institutional investment and stock exchange listings, which could stabilize the industry and reduce retail investor-driven volatility. Meanwhile, Levine encouraged investors to consider MariMed's financials, stating their stock is undervalued compared to competitors.
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