Icanic Brands Company, Inc. (CSE: ICAN, OTCQB: ICNAF) is a multi-state brand operator that is focused on the cannabis opportunity in California and Nevada. The company is executing on a strategy to become a vertically integrated business in California and owns a portfolio of well-known cannabis brands.
The management team has a proven track record of execution in the cannabis sector and we are favorable on the direction that they have brought the business. From selling branded products to providing white label services, Icanic Brands represents a multi-faceted growth story and is an opportunity that we are following.
Last week, Icanic Brands reported that its wholly owned subsidiary, Ganja Gold, has been recognized by LeafLink as the fastest growing pre-rolls in the nation. by analyzing the orders between 1,700+ cannabis brands and 5,500+ retailers, LeafLink created the LeafLink List. The platform is live in 26 territories across North America and we are favorable on the amount of data that it gathers to determine rankings.
LeafLink’s fastest-growing categories represent the most popular brands and products on the platform in 2020 and we are favorable on the performance of Ganja Gold. The ranking serves as a testament to the strength of Icanic Brands’ product line and we will monitor how it continues to support the growth of the business.
A Differentiated Growth Story
From a intellectual property (IP) standpoint, the management team has been focused on protecting the brand. By focusing on protecting the brand, the company will be able to continue to charge a premium for the product line which should have a positive impact on margins.
Another way the business has been able to differentiate itself is through the use of state-of-the-art technology. By focusing on technology, the company has been able to reduce headcount and this is an important aspect of the story from a margin standpoint.
By focusing on the use of state-of-the-art technology, Icanic Brands’ has been able to grow the white label side of the business and we are bullish on this. Ganja Gold is considered to be a leading brand of infused pre-rolls and we are favorable the amount of brand awareness that it has. Over the next year, we expect the brand to continue to take market share and will monitor how the management team is able to capitalize on the pre-roll market.
We believe the management team has put a major emphasis on cutting costs and ramping revenues. During the last quarter, the stock has been a major out performer and this is a trend that caught our attention.
If you are interested in learning more about Icanic Brands, please send an email to email@example.com with the subject “Icanic Brands” to be added to our distribution list.
Published at Thu, 19 Nov 2020 17:35:42 +0000