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Curaleaf Holdings Inc (OTCMKTS:CURLF) Looks to Point Higher

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It may well pay to take note of the fact that Curaleaf Holdings Inc (OTCMKTS:CURLF) just announced that it has completed its acquisition of three Arrow Alternative Care (“AAC” and “Arrow”) dispensaries in Connecticut.

According to the release, strategically placed in key metro areas, AAC has established itself as a market leader in Connecticut, operating three out of the 18 total dispensaries in the state. AAC’s first store opened in Hartford in 2016, the second in Milford in 2017 and the Stamford store opened to customers 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 has completed its acquisition of three Arrow Alternative Care (“AAC” and “Arrow”) dispensaries in Connecticut.

Recent action has seen 48% tacked on to share pricing for the listing in the past month. Moreover, the stock has seen a growing influx of trading interest, with the stock’s recent average trading volume running 26% over what the stock has registered over the longer term.

“The acquisition of AAC further strengthens our market presence in Connecticut, while reaffirming our position as a leading cannabis operator in the United States,” said Joe Lusardi, CEO of Curaleaf. “As with most Curaleaf dispensaries, Arrow will operate as an essential service business allowing Curaleaf to continue to provide patients with the products they rely on during these challenging times. And like all our dispensaries, Arrow has implemented the additional COVID-19 measures to protect employees and patients while remaining open. We look forward to providing our products directly to Connecticut patients and to building a long-lasting relationship with them.”

Now commanding a market cap of $1.6B, CURLF has a significant war chest ($54.9M) of cash on the books, which stands against 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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