Shares of Curaleaf Holdings Inc. (OTCMKTS:
CVS Distribution Deal
A partnership with CVS group is a milestone achievement as it paves the way for Curleaf Holdings to have its cannabis products distributed across the U.S. Under the terms of the agreement, the drugstore chain is to make cannabis company’s CBD products available in its more than 800 stores as part of a distribution deal.
“We’ve been having dialogue
with national retailers for many months now. We have a number of potentially exciting partnerships in the pipeline,”
said Curaleaf Chief Executive Officer Joseph Lusardi.
Investor confidence in the stock has also inched higher on the confirmation that the company has completed the acquisition of EC Investment Partners. The acquisition is poised to expand the company’s footprint in California, one of the biggest cannabis markets with tremendous opportunities for growth.
EC investment Partners should allow Curleaf Holdings to strengthen its retail footprint as it moves to enhance its sales channels in the state. Plans are already underway to open additional locations in the state as the company moves to strengthen its revenue streams.
In addition to California, Curleaf has also set sights on Florida as part of its rapid expansion drive. In Florida, the company has opened a new medical marijuana dispensary set to strengthen its retail footprint further.
With the company boasting of the largest cannabis dispensary footprint, it does not come as a surprise that investors are taking note of its tremendous potential. A robust dispensary footprint accords the company an opportunity to strengthen its streams of revenues.
The stock has since taken a flight as investors take note of the tremendous opportunity at stake given the robust retail footprint. After a harrowing crash late last year, Curleaf Holdings has started surging having resorted to trading in an uptrend.
Pullbacks from higher highs have so far emerged as buy opportunities from where bulls have continued to push the stock higher.
Shares of the company are up a whopping 101% so far this year.