Geometry Dash APK Hill Climb Racing APK
54.6 F
New York
Wednesday, May 25, 2022

Why Curaleaf Holdings Inc (OTCMKTS:CURLF) Might be Ready to Fend Off the Bears

Must read

Sysorex Inc (OTCMKTS:SYSX) Stock Still Riding Big News

Investors are always drawn to stocks that make a big jump out of nowhere. So it's no surprise that Sysorex Inc (OTCMKTS:SYSX)...

88 Energy Limited Ltd (EEENF) Update: Continues Climbing on Significant Volume

Investors who might be looking for stocks that have made considerable gains in recent weeks could consider having a closer look at...

Victory Resources Corporation (OTCMKTS:VRCFF) Stock Rockets After Announcing A New Acquisition

Nowadays, lithium is in huge demand across several industries and hence, it the rally in the Victory Resources Corporation (OTCMKTS:VRCFF) stock the...

Healthier Choices Management Corp (OTCMKTS:HCMC) Heats Up: WallStreetBets at it Again

At the mid-point of the trading week, it is often prundent for investors to take stock of the market and take a...

The decline underway in shares of Curaleaf Holdings Inc (OTCMKTS:CURLF) is finally reaching some very important levels of potential support. Most importantly, we are nearing a fill of the huge gap from mid-March, when the stock gapped through the $7.50 level and subsequently ran up to test key resistance in the $11.25 area. Technically, $6.85/share would be gap-fill, with $6.25 providing addition key support below that. To further flesh out the story, the company recently announced that it completed the acquisition of the Emerald dispensary in Gilbert, Arizona, whose license is held by Absolute Healthcare, Inc., an Arizona non-profit corporation.

According to the release, “The signing was announced earlier on May 21, 2019 and the transaction was closed on May 29, 2019. The dispensary is expected to be rebranded as Curaleaf over the next month. Emerald is the only dispensary licensed to operate in the Town of Gilbert which is located in the Metro Phoenix area. It is one of Arizona’s largest and longest standing medical cannabis retailers, serving over 44,000 unique patients since 2014.”

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.

Find out when $CURLF reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

As noted above, CURLF shares are nearing a test of very important support, which could be reinforced by its recent M&A activity, including the completion of its acquisition of the Emerald dispensary in Gilbert, Arizona.

Even in light of this news, CURLF has had a rough past week of trading action, with shares sinking something like -14% in that time. That said, chart support is nearby and we may be in the process of constructing a nice setup for some movement back the other way. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -28%.

Furthermore, the company has registered increased average transaction volume recently, with the past month seeing 10% over the long run average.

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 Arizona in 2019.”

Now commanding a market cap of $2.4B, CURLF has a significant war chest ($172.6M) of cash on the books, which compares with about $26.2M in total current liabilities. CURLF is pulling in trailing 12-month revenues of $88.6M. In addition, the company is seeing recent top-line growth, with sequential quarterly revenues growing at 10.3%. 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.

Latest article

Trans Global Group Inc (OTCMKTS:TGGI) Stock In Focus After Operational Updates

The Trans Global Group Inc (OTCMKTS:TGGI) stock may not have been in the news today yet but it...

Why Hycroft Mining (NASDAQ:HYMC) Stock Shot Up 700%

If you are on the hunt for stocks that may have made major gains over the course of the past week, then...

Secure Paymentz releases banking software demo on Github

This is a paid announcement from one of our advertising partners. How to Leverage Your Trading Position by Secure...

Advanced Asset Management Announces New Website Launch

This is a paid announcement from one of our advertising partners. Financial Planner in Grandville, Michigan

88 Energy Ltd (OTCMKTS:EEENF) Stock In Focus After Recent News

Every day plenty of investors look for stocks to invest in from the oil and gas sector. It is a vast industry...
Şehirler arası nakliyat ve Şehirler arası taşımacılık konusunda en uygun fiyatlar ve en kaliteli hizmet.
ofis taşıma firmaları ve ofis taşıma konusunda en uygun fiyatlar ve en kaliteli hizmet.
SmsVerifyer.com Affordable best sms verification service