Time To Buy iAnthus Capital Holdings Inc. (CNSX:IAN) On Pullbacks

iAnthus Capital Holdings Inc. (CNSX:IAN) is a runner if its performance in the first half of the year is anything to go by. The stock is already up by more than 100% and showing no signs of slowing down. Pullbacks have acted as buying opportunities from which investors have continued to push the stock higher.iAnthus Capital Holdings RallyThe stock outperformed the cannabis industry for the better part of the first half of the year even as other stocks in the industry came under pressure. A rally of more than 100% underscores the fact that 2018 could as well be a pivotal year for iAnthus Capital Holdings, as it continues to hit higher highs. ITHUF Daily ChartThe stock is currently trading at the $5.46 handle after a minor correction from 52-week highs of $5.80. A rally followed by a close above the record high should open the door for the stock to continue powering high. On the downside, the stock faces immediate support at the $4.50 handle, below which it could drop to the $4 a share handle, seen as the next substantial support level.Taking into consideration recent price action activity, it goes without saying that iAnthus Capital Holdings has every reason to continue powering high on investors taking note of recent developments.What Does iAnthus Capital Holdings DoiAnthus Capital Holdings operates some of the best-in-class cannabis cultivation, processing, and dispensaries across the United States. It is one of the most sought-after stock for gaining exposure in the burgeoning cannabis market.Why is iAnthus Capital Holdings Climbing High?iAnthus Capital Holdings sentiments in the sector continue to tick higher as investors react to a string of positive developments that have reaffirmed its long-term growth prospects. Top on the list is the commencement of construction of a 39,500 sq. ft. cannabis cultivation and processing facility in the Town of Warwick New YorkThe facility, being constructed by the company’s Citiva Medical LLC, iAnthus Capital Holdings subsidiary, is to implement high-end technology for cultivation and production. It will also include positive pressure air system as well as mobile containers and unified program for irrigation and lighting controls.The state of the art production processes should allow the company to meet a yearly production target of 2,400 kg of cannabis for the medical marijuana market.

“The growth and success of our Warwick facility will lay the foundation for the rest of our operations across New York State, and we look forward to continued expansion, development, and most importantly, service to our patients, through our vertically integrated operations,” said Hadley Ford, CEO of iAnthus Capital.

Boston Flagship DispensaryA move to diversify revenue streams is seen as another catalyst pushing iAnthus Capital Holding up the chart. The company has announced the opening of a flagship medicinal cannabis dispensary in Boston through its affiliated Mayflower Medicinal Inc. company.The dispensary is to offer a full spectrum of medical cannabis products from concentrates to oils as well as vaporizers. The dispensary provides the company with access to a unique cannabis market made up of population of about 6.7 million people.

“As we open the doors to our new dispensary, we look forward to taking on an overarching responsibility to provide patients with cannabis-based therapeutic products for the alleviation of medical symptoms," said Hadley Ford, CEO, and co-founder of iAnthus.

In addition to the Boston clinic, the company has also signed a Host Community Agreement to operate a Medical Marijuana Treatment Center in Massachusetts. The facility will act as another reliable sales channel for the company’s medical marijuana products.Debenture ConversioniAnthus Capital Holdings has also moved to trim its debt holdings a move that seems to have excited the market. The company plans to convert $20 million worth of debentures and unpaid accrued interest into common shares. The company is to convert the debentures at a price of C$3.10 per common share.What next for iAnthus Capital HoldingsiAnthus Capital Holdings has had one of its best run in the market if a rally of more than 100% since the start of the year is anything to go by. The stock should continue to climb higher as the company continues to fire on all cylinders especially on business execution.The future looks bright as iAnthus Capital Holdings continues to expand its footprint across the U.S. Any pullback in share price should act as a buying opportunity given that the stock has continued to power high on such minor corrections for the better part of the year.We will be updating our subscribers as soon as we know more. For the latest updates on IAN, sign up below!Disclosure: We have no position in IAN and have not been compensated for this article.