Americann Stock Price, News & Analysis

AmeriCann, Inc. (OTCQB:ACAN) reported a 298% year-over-year increase in operating revenue from its Massachusetts Cannabis Center for the quarter ending June 2021. The flagship facility saw a revenue boost from a new adult-use retail operation and the success of its cannabis-infused products. Additionally, AmeriCann has secured licenses for a second building, expanding their cultivation and manufacturing capacity. The overall Massachusetts cannabis market is projected to reach $1.4 billion in sales for 2021, highlighting a robust growth trend.

AmeriCann, Inc. (OTCQB:ACAN) reported significant financial growth, achieving nearly 60% increase in operating revenue for the quarter ending March 31, 2021, along with positive adjusted EBITDA. The company set an all-time record monthly revenue in April 2021, driven by its flagship Massachusetts Cannabis Center. The center's sales of cannabis-infused products and adult-use retail contributed to this success. Furthermore, AmeriCann has secured licenses for its upcoming Building 2 facility, expanding its cultivation and processing capabilities by approximately 400,000 sq. ft..

AmeriCann, Inc. (OTCQB:ACAN) reported a nearly 60% increase in operating revenue for the quarter ending March 31, 2021, at its Massachusetts Cannabis Center. This growth is attributed to the full occupancy of its initial cultivation facility by Bask, Inc., and the introduction of adult-use retail sales. The Massachusetts cannabis market saw significant growth, with a $100 million sale in February, up 50% year-over-year. Plans for a 400,000 sq. ft. Phase 2 facility have been secured, aiming to further expand cultivation and manufacturing capabilities.

AmeriCann, Inc. (OTCQB:ACAN) announced that its Joint Venture partner, Bask, Inc., has launched an adult use retail cannabis dispensary in Fairhaven, Massachusetts, on February 20, 2021. This opening is expected to significantly increase Bask's revenue, potentially by 3-5 times, thus positively affecting AmeriCann's revenue through a 15% participation fee. The Massachusetts cannabis market is lucrative, with retail prices exceeding $7,000 per pound. AmeriCann's Massachusetts Cannabis Center has been operational since February 2020, supporting Bask's exclusive product lines that cater to a growing consumer base.

AmeriCann, Inc. (ACAN) has launched the successful 1906 cannabis product line at its Massachusetts Cannabis Center, marking an important milestone in expanding its market presence. The 1906 Drops, which provide fast-acting low-dose THC and CBD options, are now available in over 20 dispensaries in Massachusetts. This state has seen a booming cannabis market, with sales reaching $700 million last year, up 56% from 2019. AmeriCann benefits from a 15% share of gross sales produced at the facility, contributing to its growth strategy in the cannabis sector.

AmeriCann, Inc. (OTCQB:ACAN) announced on November 19, 2020, it has secured two new licenses from the Massachusetts Cannabis Control Commission for cannabis cultivation and product manufacturing. These licenses will be utilized for Building 2 of its Massachusetts Cannabis Center (MCC), which will feature approximately 400,000 square feet for cultivation and manufacturing, including 80,000 square feet dedicated to extraction. The MCC is poised to support the rapidly expanding cannabis market in Massachusetts, where adult-use sales surpassed $1 billion since 2018.

AmeriCann, Inc. (OTCQB: ACAN) reports on the implications of recent elections that favored cannabis legalization in five states, potentially accelerating federal cannabis reform. With increased public support, as indicated by a Gallup poll showing nearly 70% favoring legalization, AmeriCann anticipates benefits such as enhanced capital access, conventional banking opportunities, and eligibility to list on major stock exchanges. The company is progressing with its Massachusetts Cannabis Center, having completed Building 1 and applied for licenses for further development, aiming for a substantial growth phase.

AmeriCann, Inc. (OTCQB:ACAN) reported a 178% increase in operating revenue from its Massachusetts Cannabis Center for the quarter ending September 30, 2020, compared to the previous quarter. The Center, developed on a 52-acre site, supports both medical and adult-use cannabis markets. The company receives base rent and a 15% revenue participation fee from its tenant, Bask, Inc. Additionally, AmeriCann is moving forward with plans for Building 2, which will add 180,000 square feet of cultivation space.