Signs of a Shift in Curaleaf Holdings Inc (OTCMKTS:CURLF)

Signs of a Shift in Curaleaf Holdings Inc (OTCMKTS:CURLF)


With the recent flip in the action for the pot stocks, shares of Curaleaf Holdings Inc (OTCMKTS:CURLF) could deserve a closer look at present levels. The stock had flipped from relative strength to relative weakness, on a comparative basis with its peers in the space, but recent days suggest that equation could be flipping back in the right direction with the retaking of the key $6.25/share level.

One other hint in support of this idea is the company’s latest announcement, that on Friday, September 27, 2019 Executive Chairman Boris Jordan purchased 100,000 shares of Curaleaf stock on the open market at an average price of $8.21 per share. Insider purchases of significant monetary levels often signal an important sign of confidence from those who know the company best. In this case, we are talking about well over $800K in real money put to work in the stock. We would certainly consider that to be significant. Hence, it may be an important sign of where value is priced in CURLF, and it may spur others to agree with this idea now that the cat is out of the bag.

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 that on Friday, September 27, 2019 Executive Chairman Boris Jordan purchased 100,000 shares of Curaleaf stock on the open market at an average price of $8.21 per share.

We’ve witnessed 4% added to share values of the company over the past week of action. Furthermore, the company has seen a growing influx of trading interest, with the stock’s recent average trading volume running 57% above the average volume levels in play in this stock over the longer term.

Executive Chairman Boris Jordan commented, “This is an exciting time for Curaleaf and our industry, and I have never been more confident in our future. Curaleaf is well positioned for long-term growth and profitability. Our industry is on the brink of tremendous growth, especially as lawmakers on both sides of the aisle are recognizing the need to advance regulation like the SAFE Banking Act. Curaleaf is in the best position to lead this industry and create value for shareholders for the long-term.”

At this time, carrying a capital value in the market of $2.4B, CURLF has a significant war chest ($140.3M) of cash on the books, which stands against 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 is an exciting story, and we look forward to a follow-up chapter as events transpire. 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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