Looking for Blue Skies in Curaleaf Holdings Inc (OTCMKTS:CURLF)

Looking for Blue Skies in Curaleaf Holdings Inc (OTCMKTS:CURLF)

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Curaleaf Holdings Inc (OTCMKTS:CURLF) just announced that it will acquire three Arrow Alternative Care (AAC) dispensaries in the state of Connecticut. The question for traders in the name is: will the recent lows hold on the pullback this week?

According to the release, Strategically placed in key metro areas, AAC has established itself as a market leader in Connecticut dispensary cannabis retail, operating three out of 18 total stores currently operational in the State. Its first store opened in Hartford in 2014, the second in Milford in 2017, and the Stamford store opened its doors in January 2020.

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 three Arrow Alternative Care (AAC) dispensaries in the state of Connecticut.

We’ve witnessed 52% during the past week in terms of shareholder gains in the stock. What’s more, the name has registered increased average transaction volume recently, with the past month seeing greater than 130% over what the stock has registered over the longer term.

“Arrow Alternative Care’s stores are the gold standard of pharmacy-like operations in Connecticut. They have grown a large, dedicated patient base by providing exceptional service and quality products,” said Joe Lusardi, CEO of Curaleaf. “This acquisition will be immediately accretive and provides Curaleaf with vertical integration in Connecticut. We can now bring the knowledge we’ve cultivated through our experience across 15 states to Connecticut’s medical cannabis patients directly.”

Earning a current market cap value of $1.6B, CURLF has a significant war chest ($54.9M) of cash on the books, which must be weighed relative to about $137.8M 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 $293M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 136%. 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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