The bear market in the cannabis patch continues unabated, but shares of Curaleaf Holdings Inc (OTCMKTS:CURLF) continue to display some clear relative strength amid the storm. That can’t be discounted as far as a potential signal of coming strength if the space at large turns things around. To help foment that narrative, the company recently announced that it has launched Curaleaf Ground Flower Pods – New York State’s first medical cannabis flower products – at its Carle Place dispensary in Nassau County, Long Island.
According to the release, “The product will be available at all four Curaleaf dispensaries in the coming weeks. Now available for limited release, Curaleaf will provide New York’s medical cannabis patients a new method to take their medicine by offering ground flower pods which are used in medical vaporizers. Each Curaleaf Ground Flower Pod contains 350mg of active cannabinoids – a total of 700mg per 3.5g package – in a 20:1 THC:CBD ratio in Indica and Sativa strains.”
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 it has launched Curaleaf Ground Flower Pods – New York State’s first medical cannabis flower products – at its Carle Place dispensary in Nassau County, Long Island.
The stock has suffered a bit of late, with shares of CURLF taking a hit in recent action, down about -10% over the past week. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -18%. Furthermore, the company has seen interest climb, with an increase in recent trading volume of 14% over what the stock has registered over the longer term.
“Curaleaf is very pleased to be launching the first medical cannabis flower products to be offered in New York state, which is first and foremost a win for our patients,” said Joseph Lusardi, CEO of Curaleaf. “Flower is cannabis in its raw form and therefore the most affordable form of cannabis. We can increase patient access by providing more affordable products and offering more options for patients in the medical program. We’d like to thank the Department of Health for permitting us to sell vapable flower. We believe it’s an important step toward making natural products available in New York.”
Now commanding a market cap of $2.3B, 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 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.