Liberty Health Sciences is gaining ground

One cannabis industry analyst sees big successes coming to the Florida-based cannabis company

Liberty Health Sciences (CNQ: LHS), has been using a different business model than most of the operating cannabis businesses in the US, by focusing on just one state. It is one of the leaders in Florida with 23 operating dispensaries and plans to open six more in the next year. Unlike most cannabis companies last year, Liberty presented positive numbers and overall growth, which has caught the attention of analysts who are considering the company to be a good investment opportunity. Analyst James Baker is offering his take on the company.

The 23 dispensaries that Liberty operates as of February 28 this year offer a wide variety of products such as capsules, concentrates, distillates, devices, flower, topicals, pods, among many others. Besides having these stores, the company also offers a delivery service from six of its hubs and six more dispensaries are on the plans before February 2021. Currently, Liberty is ranking second largest dispenser of flower in the Sunshine State, during the last quarter a total of 34,777 ounces of the flower were sold. It has a solid advantage over its following competitor, which is Curaleaf that reports 48% less sales than Liberty.

Baker also mentioned that he visited one of Liberty’s dispensaries and observed that it was strategically located, close to Walmart and Sam’s Club. He also says that it complies with handicapped access and it has plenty of parking. The staff seems to be well trained, and they are knowledgeable, enthusiastic and willing to help. Regarding the delivery service, Baker also claims that he received the products on time, by a nice driver who was ready to receive the payment using his CanPay debit card.

Another aspect Baker pointed is the number of medical marijuana patients in Florida that has soared 85% since November 2018. Liberty Health, during that same period, reported 36,097 active patients, which is a 149% increase if compared to a year back. Liberty currently provides services to 12.5% of medical marijuana patients in the state and the state issues nearly 10,000 new medical marijuana cards per month.