Shares of Curaleaf Holdings Inc (OTCMKTS:CURLF) are currently running up against key resistance after a strong recovery move over recent weeks. The key level in play is the range highs around $8.25/share. The stock has already managed to cross above the major MA’s (50-day and 200-day) which are both now sloped to the upside in bullish fashion. In addition, key catalysts continue to define the path forward in positive fashion, despite the multiple attempts to attack the company through class action predation by opportunistic law firms.
As a case in point, the company just announced the opening of its seventh dispensary in Arizona at 217 N 83rd Avenue in the Phoenix metro area. According to the release, Curaleaf Pavilions is a newly developed, flagship dispensary with close access to the I-10 Freeway. The dispensary is in the immediate vicinity of the nationally recognized Ak-Chin Pavilion, a popular outdoor amphitheater and concert stadium hosting nearly forty events a year.
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 seventh dispensary in Arizona at 217 N 83rd Avenue in the Phoenix metro area.
We’ve witnessed 23% tacked on to share pricing for the name in the past month. Moreover, the stock has seen interest climb, with an increase in recent trading volume of 10% beyond what we have been seeing over the larger time frame.
“Maricopa is the fastest-growing county in the country,” said Joe Lusardi, President and Chief Executive Officer of Curaleaf. “By opening the seventh Curaleaf dispensary in Arizona, we will be able to provide this expanding population with access to our high-quality cannabis products and exceptional customer service.”
Currently trading at a market capitalization of $2.8B, CURLF has a significant war chest ($140.3M) of cash on the books, which compares with about $64.1M in total current liabilities. CURLF is pulling in trailing 12-month revenues of $181.9M. In addition, the company is seeing recent top-line growth, with sequential quarterly revenues growing at 38.4%. 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.