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Thursday, January 27, 2022

The Turnaround in Curaleaf Holdings Inc (OTCMKTS:CURLF) Continues

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As we noted recently, Curaleaf Holdings Inc (OTCMKTS:CURLF) represents an interesting possible pullback opportunity in the cannabis patch, with shares recently flipping off deep pivot support just above the $6/share level, and vaulting on a few positive company-specific catalysts. That narrative was helped this week by news of the opening of the company’s 25th Florida dispensary. Florida has been a major focus of growth for the company.

According to the release, Curaleaf has the largest cannabis dispensary footprint in the US, with 48 dispensaries across the country. “In opening our 3rd Orlando area medical marijuana dispensary, we are proud to be able to provide patients in the communities of Sanford, Lake Mary, Lake Monroe, Longwood, Winter Springs, and Midway, Florida with access to Curaleaf’s premium quality products and educational resources,” shared Joe Lusardi, Curaleaf CEO.

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 opening of its 25th Florida dispensary at 610 Lake Minnie Drive, as the company continues to expand rapidly throughout the state.

Recent action has been relatively flat, with about 2% added to share values of the stock over the past month. In addition, the listing has registered increased average transaction volume recently, with the past month seeing 98% over the long-run average.

The company’s latest release continued on to note that, “Curaleaf is commemorating the grand opening of Sanford’s first medical marijuana dispensary by providing a sneak-preview to its newest product – Curaleaf Shatter, at the dispensary. Processed using the industry’s cleanest, most medically precise extraction and purification methods combined with decades of horticultural experience, Curaleaf Shatter offers patients with qualifying medical conditions a new product option that physicians may consider for their patients. Curaleaf medical cannabis products are also available in the forms of capsules, oils, distillates, concentrates, vaporizer pens, pre-rolls, smokable flower, and topical creams.”

Currently trading at a market capitalization of $2.6B, CURLF has a significant war chest ($230.6M) of cash on the books, which must be weighed relative to about $34.9M in total current liabilities. CURLF is pulling in trailing 12-month revenues of $117M. In addition, the company is seeing recent top-line growth, with sequential quarterly revenues growing at 11%. We will update the story again as soon as further details emerge. 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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