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Curaleaf Holdings Inc (OTCMKTS:CURLF) Faces the Double Test

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Curaleaf Holdings Inc (OTCMKTS:CURLF) just announced that it will acquire BlueKudu, a Colorado-based producer of premium cannabis chocolates and gummies.

According to the release, founded in 2011, BlueKudu is one of Colorado’s oldest and most experienced edible manufacturers. Known for utilizing high-quality ingredients sourced from Rainforest Alliance Fair Trade Certified Farms, BlueKudu employs culinary experts and an extraction process that provides a cleaner and more natural oil to create artisanal cannabis products with vegan and gluten free options.

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 will acquire BlueKudu, a Colorado-based producer of premium cannabis chocolates and gummies.

While this is a clear factor, it has been incorporated into a trading tape characterized by a pretty dominant offer, which hasn’t been the type of action CURLF shareholders really want to see. In total, over the past five days, shares of the stock have dropped by roughly -8% on above average trading volume. All in all, not a particularly friendly tape, but one that may ultimately present some new opportunities. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -27%. Furthermore, the name has witnessed a pop in interest, as transaction volume levels have recently pushed 9% above the average volume levels in play in this stock over the longer term.

“Colorado is the second largest cannabis market in the US, with sales surpassing $1.7 billion in 2019,” said Joe Lusardi, Chief Executive Officer of Curaleaf. “With over eight years of operating history, BlueKudu has developed a strong brand for customers seeking premium cannabis products in a diverse range of flavors and formulations. BlueKudu’s established production and distribution capabilities will allow Curaleaf to seamlessly enter the market and expand the Select brand presence in the state of Colorado.”

At this time, carrying a capital value in the market of $1.8B, 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%. You can bet we will update this one again as new information comes into view. 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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