Among recent breakouts, plenty of eyes have turned towards Curaleaf Holdings Inc (OTCMKTS:CURLF). The stock has been on fire, ripping as much as 50% higher in the past three weeks, following news that it has entered several new large markets as a supplier. That has recently been followed by new reports that the company just announced that it completed the acquisition of EC Investment Partners, LLC.
“The acquisition of Eureka cements our foundation in California and positions us well in the largest cannabis consumption market in the U.S.,” said Joseph Lusardi, CEO of Curaleaf. “The closing of this transaction marks an important milestone for Curaleaf, enabling us to enter the highly attractive California market as a vertically integrated operator with plans to expand across the state.”
Curaleaf Holdings Inc (OTCMKTS:CURLF) promulgates itself as a company that operates as an integrated medical and wellness cannabis operator in the United States.
The Company is the parent of Curaleaf, Inc., a leading vertically integrated cannabis operator in the United States. Headquartered in Wakefield, Massachusetts, Curaleaf, Inc. has a presence in 12 states.
Curaleaf, Inc. operates 30 dispensaries, 12 cultivation sites and 9 processing sites with a focus on highly populated, limited license states, including Florida, Massachusetts, New Jersey and New York. Curaleaf, Inc. leverages its extensive research and development capabilities to distribute cannabis products in multiple formats with the highest standard for safety, effectiveness, consistent quality and customer care. Curaleaf is committed to being the industry’s leading resource in education and advancement through research and advocacy.
Curaleaf Inc.’s Florida operations were the first in the cannabis industry to receive the Safe Quality Food certification under the Global Food Safety Initiative, setting a new standard of excellence.
It cultivates, processes, markets, and/or dispenses a range of cannabis products in various operating markets, including flower, pre-rolls, flower pods, dry-herb vaporizer cartridges, concentrates for vaporizing, concentrates for dabbing, tinctures, lozenges, capsules, and edibles.
The company also provides non-cannabis services to licensed cannabis operators in the areas of cultivation, extraction and production, and retail operations. As of November 01, 2018, it operated a network of 29 dispensaries. The company was founded in 2010 and is headquartered in Wakefield, Massachusetts.
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As noted above, CURLF just announced that it completed the acquisition of EC Investment Partners, LLC.
We’ve witnessed 57% piled on for shareholders of the company during the trailing month. Furthermore, the listing has seen a growing influx of trading interest, with the stock’s recent average trading volume running topping 190% over the long run average. It pays to take note of this fact with the stock trading on a float that is extremely small at just 4.8M shares.
According to the release, “Curaleaf has the largest footprint of single-branded retail stores in the U.S. and is executing on its strategy of building a national brand in highly populated states. Curaleaf will continue to explore opportunities to open additional locations throughout the state of California in 2019.”
Now commanding a market cap of $4.53B, CURLF has a significant war chest ($364.1M) of cash on the books, which compares with virtually no total current liabilities. CURLF is pulling in trailing 12-month revenues of $70.1M. In addition, the company is seeing recent top-line growth, with sequential quarterly revenues growing at 51.1%. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $CURLF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $CURLF, either long or short, and we have not been compensated for this article.