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Sunday, January 16, 2022

The Bull Trend Continues for Curaleaf Holdings Inc (OTCMKTS:CURLF)

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The pullback in shares of Curaleaf Holdings Inc (OTCMKTS:CURLF) continues to play out following a show of resistance in the $11.50 area. The stock consolidated in that zone for the better part of a month before finally relenting and draining out some weaker hands to test trend supports, with a possible test of the 50-day moving average coming up this week. Traditionally, that has been a key point of interest for trend-following market participants, which suggests the stock should be closely followed in upcoming days.

To add some color to the action, the company just announced the launch of Bido, hemp-based CBD products for pets. CBD is a non-intoxicating, non-psychoactive compound from the cannabis sativa plant. According to the release, “CBD has been shown in initial third-party studies to support a pet’s overall wellness including the potential to help manage pain and anxiety. Bido pet drops come in three varieties, bacon, salmon and unflavored “pure,” and Bido soft-baked bites are available in apple chicken, peanut butter bacon, and honey sweet potato. All Bido products can be purchased online at www.curaleafhemp.com.”

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 and 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 the launch of Bido, hemp-based CBD products for pets. CBD is a non-intoxicating, non-psychoactive compound from the cannabis sativa plant. 

While this is a clear factor, it has been incorporated into a trading tape characterized by a pretty dominant offer, which hasn’t been the type of action CURLF shareholders really want to see. In total, over the past five days, shares of the stock have dropped by roughly -14% on above average trading volume.

All in all, not a particularly friendly tape, but one that may ultimately present some new opportunities. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -7%. In addition, the company has seen a growing influx of trading interest, with the stock’s recent average trading volume running 57% above its longer-run average levels.

“Our human customers are already reaping the benefits of CBD with Curaleaf Hemp. The same care and research went into the development of Bido. We are excited to be extending our high quality, trusted products to pet owners,” said Joe Lusardi, President and Chief Executive Officer of Curaleaf. “The launch of Bido is just one more way we are the most accessible cannabis company in the U.S.”

At this time, carrying a capital value in the market of $4.45B, CURLF has a significant war chest ($364.1M) of cash on the books, which compares with about $33.9M in 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%. As more color becomes clear on the name, we will review the situation and update our take. 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.

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