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Gage Growth Corp is engaged in providing branding and crucial support services to affiliated licensed operators that produce, distribute, and sell cannabis and cannabis-related products in the State of Michigan.

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Gage Growth > $GAGE- adding this one to my watchlist

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Post by maysilverstone on May 07, 2021 4:36pm

$GAGE- adding this one to my watchlist

Feeling very bullish on $GAGE, a high-quality cannabis company operating in Michigan. One of the fastest growing legal cannabis markets in the US, Michigan posted $146M of cannabis sales in March, reflecting approximately a $1.8B annual run-rate.

Yesterday Viridian Capital initiated a coverage of $GAGE with a Buy rating and a $4.25 price target while Eight Capital gave a $6.50 price target.

Additionally, in a recently released financial report, it was reported that in 2020, revenue increased 1,972% YoY to $39.9M. In Q4, they experienced a 615% YoY growth in revenue to $10.5M. They also celebrated a single day record retail revenue of $505,000 on 4/20. (Link: https://gageusa.com/gage-growth-corp-announces-fiscal-year-2020-results-and-provides-business-update/_)

With a current market cap of $344M, $GAGE is up 3.3% to $2.50. Expecting to open 20+ dispensaries by the end of 2021, with two additional dispensary openings planned in May, I think this one could be big as they continue with their future expansion plans further extending this strong growth.

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