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Sunday, September 27, 2020

Curaleaf Holdings Inc (OTCMKTS:CURLF) Ahead of the Pack

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Curaleaf Holdings Inc (OTCMKTS:CURLF) just announced that it has received a Notice of Intent to Award a medical cannabis retail license from the Utah Department of Health.

According to the release, “Curaleaf has won one of 14 licenses to open a medical cannabis dispensary in Utah, from more than 130 applications and 60 different companies. The Company’s license is for Region 3, which includes Utah, Wasatch, Daggett, Duchesne, Uintah, Carbon, Emery, Grand and San Juan Counties. Curaleaf plans to open a dispensary in Lindon, Utah – adjacent to Interstate 15 between Salt Lake City and Provo – for medical patients later this year, pending final approvals from regulators.”

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 received a Notice of Intent to Award a medical cannabis retail license from the Utah Department of Health.

We’ve witnessed flat action in the listing over the past month of action. What’s more, the stock has seen a jump in recent trading volume to the tune of 6% above the average volume levels in play in this stock over the longer term.

“Curaleaf is proud to have been selected as a recipient of a medical retail license in Utah, and we look forward to bringing our premium products, services and expertise to medical patients there,” said Joseph Lusardi, Chief Executive Officer of Curaleaf. “We are grateful to be part of the early development of the industry in the state and will earn the trust and patronage of patients there as we have in the other states where we operate.”

Earning a current market cap value 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 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.

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