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Is a Higher Low in Sight for Curaleaf Holdings Inc (OTCMKTS:CURLF)?

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Curaleaf Holdings Inc (OTCMKTS:CURLF) just announced the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired with respect to the acquisition of GR Companies, Inc. (“GrassRoots”) by Curaleaf.

According to the release, “the companies continue to work together to receive necessary regulatory and state approvals and expect the transaction to close in Spring of 2020. Grassroots is a cannabis company dedicated to serving, advancing and respecting the cannabis movement. Through its unique, vertically integrated business model, Grassroots grows, processes and sells trusted cannabis products that enhance life’s moments for people from all backgrounds. Its retail brand, Herbology, offers a unique, wellness and education-focused dispensary experience.”

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 waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired with respect to the acquisition of GR Companies, Inc. by Curaleaf.

Even in light of this news, CURLF hasn’t really done much of anything over the past week, with shares logging no net movement over that period. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -13%. What’s more, the listing has registered increased average transaction volume recently, with the past month seeing 10% beyond what we have been seeing over the larger time frame.

“We are thrilled to reach this milestone as we progress towards the transformational acquisition of Grassroots,” said Joseph Lusardi, CEO of Curaleaf. “Upon closing, Curaleaf will gain a strong foothold across key states in the Midwest, increasing access for patients and customers to our industry leading brands. We will continue to focus on executing on our strategy, while enjoying the benefits of greater scale and brand recognition across both new and existing markets.”

Earning a current market cap value of $2.36B, 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%. 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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