Curaleaf Holdings Inc (OTCMKTS:CURLF) Starts to Build a Fresh Narrative

Curaleaf Holdings Inc (OTCMKTS:CURLF) Starts to Build a Fresh Narrative

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Shares of Curaleaf Holdings Inc (OTCMKTS:CURLF) are reacting to market action, but also to changes at the top. To wit: the company just announced that Khadijah Tribble will become Vice President, Corporate Social Responsibility effective March 16, 2020.

According to the release, Khadijah Tribble is a respected expert on equity and inclusion in the cannabis industry. She has advised cannabis investors, government regulators, entrepreneurs, and businesses on policy, business development, and community impact. In partnership with Chief Marketing Officer Jason White and the marketing team, Tribble will oversee the Company’s efforts to build an eco-system of impact, policy and business that aligns with the greater good of the cannabis industry and the communities in which Curaleaf operates and serves. She will also lead the company’s diversity, equity and inclusion initiatives.

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 Khadijah Tribble will become Vice President, Corporate Social Responsibility effective March 16, 2020.

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 -25% 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 -40%. What’s more, the company has seen a growing influx of trading interest, with the stock’s recent average trading volume running 70% above its longer-run average levels.

“As we lead the way to a world where cannabis is welcomed and understood, our corporate social responsibility grows congruently with our business. We recognize the positive impact we can have on the lives of not just our employees, our customers and our shareholders, but also on the communities and the environment in which we operate our business,” said Joe Lusardi, CEO of Curaleaf. “We are thrilled to have Khadijah join our team to lead the charge.”

At this time, carrying a capital value in the market of $1.37B, CURLF has a significant war chest ($120.8M) of cash on the books, which is balanced by 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%. As more color becomes clear on the name, we will review the situation and update our take. 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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