InterCure: True International Cannabis Play
- InterCure offers a pure play on the European cannabis market with a focus on Israel.
- The company went public via a SPAC in April and now trades below the PIPE price at only $8.
- The stock is cheap at only 2x EV/'22 sales targets.
- This idea was discussed in more depth with members of my private investing community, Out Fox The Street. Learn More »
The cannabis market is ripe with investment opportunities whether in the U.S. or Canada, but very few good investments exist for companies focused outside of North America. After closing a SPAC deal, InterCure (OTCPK:IRCLF) offers an impressive opportunity to invest in European growth via a small Israeli company. The stock is a solid buy considering the company doesn't come with an expensive price tag like most Canadian cannabis companies playing in European cannabis markets.
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Update - July 25
The Israeli cannabis company could uplift to the Nasdaq as soon as this week. Investors should watch for a catalyst when this occurs with the stock only trading at $6.25 here after hitting a high of nearly $10.