iAnthus opens its 20th US dispensary
Today, iAnthus Capital Holdings (ITHUF) announced the opening of its 20th dispensary in the United States and its second dispensary in New York. The dispensary is located in the Dutchess County town of Wappingers Falls. The dispensary will operate under the name Citiva Hudson Valley.
The 2,600 square-foot dispensary will offer more than 30 locally sourced products, including vape cartridges, tinctures, powders, and capsules. Hadley Ford, CEO of iAnthus, said, “The opening of our Citiva Hudson Valley dispensary is a major milestone for iAnthus, as it marks the 20th dispensary opened by the Company. 2019 will be full of catalysts and exciting developments for Citiva, including the much-anticipated completion of our cultivation facility in Warwick, New York, and the opening of dispensaries in Staten Island and Chemung County.”
iAnthus stock movement
At 1:45 ET, iAnthus was trading in the green with a marginal gain of ~0.1%. The gain helped the stock trade 9.7% above its 100-day moving average price of $4.93. On a year-to-date basis, the stock has gained 36.10%. Analysts expect iAnthus’s target price at $8.35, which implies a potential return of 54.3% from its current target price. ITHUF’s 14-day relative strength index is 58, which indicates that the stock is neither overbought nor oversold.
iAnthus has underperformed the Horizons Marijuana Life Sciences Index ETF (HMLSF), which was trading up 1.26%. The fund also provides exposure to Canopy Growth (CGC), Aphria (APHA), and Tilray (TLRY) with weights of 12.4%, 8.1%, and 7.7%, respectively.