We continue to cast a spotlight on shares of Curaleaf Holdings Inc (OTCMKTS:CURLF). The stock has been outperforming the larger space and continues to make key moves to support the continued outperformance. Now, the company just announced that Joe Bayern will become President of Curaleaf Holdings, Inc., effective immediately. This stands to build out greater credibility in a space where credibility has become the key concept.
According to the release, “Bayern brings over 20 years of executive leadership experience in consumer packaged goods at a critically important moment in Curaleaf’s growth trajectory. He will report to Curaleaf Chief Executive Officer Joseph Lusardi. As President, Bayern will work closely with the senior executive team to lead the company and oversee its continued growth. Bayern will primarily be focused on driving operational excellence and executing on Curaleaf’s mission. Chief Executive Officer Joseph Lusardi will continue to oversee the strategic vision and operations of the company.”
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 Joe Bayern will become President of Curaleaf Holdings, Inc., effective immediately.
The chart shows 21% piled on for shareholders of the listing during the trailing month. What’s more, the stock has registered increased average transaction volume recently, with the past month seeing 16% over what the stock has registered over the longer term.
“Joe Bayern brings the expertise, track record and passion that will help take Curaleaf to the next level,” said Curaleaf Chief Executive Joseph Lusardi. “His experience in senior leadership roles in consumer goods, and most recently cannabis, will greatly enhance our ability to operate and excel in our next phase of growth.”
At this time, carrying a capital value in the market of $2.2B, CURLF has a significant war chest ($120.8M) of cash on the books, which must be weighed relative to about $98.5M in total current liabilities. One should also note that debt has been growing over recent quarters. CURLF is pulling in trailing 12-month revenues of $235.6M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 192.3%. We will update the story again as soon as developments 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.