It shouldn’t escape notice for traders and investors that Curaleaf Holdings Inc (OTCMKTS:CURLF) just announced an agreement with Mango Cannabis, the top medical cannabis dispensary in Oklahoma, to distribute Curaleaf’s Select brand products.
According to the release, “the brand is being distributed for the first time in Oklahoma at two Mango Cannabis dispensaries in Edmond and Tulsa. Select, which was acquired by Curaleaf in February 2020, currently retails in Oregon, California, Nevada, Arizona, Colorado, Michigan, Maryland and Oklahoma. The brand is expanding across the country in the 17 states where Curaleaf operates. Select is initially launching in the Oklahoma market with its 1g Elite cartridge, the brand’s most popular product that delivers an activated, broad-spectrum oil with a high THC level. The brand plans to offer Elite Live and other new products to Oklahoma medical patients in the near future.”
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 an agreement with Mango Cannabis, the top medical cannabis dispensary in Oklahoma, to distribute Curaleaf’s Select brand products.
The chart shows 52% piled on for shareholders of the stock during the trailing month. What’s more, the listing has seen a growing influx of trading interest, with the stock’s recent average trading volume running 24% beyond its prior sustained average level.
“We are excited to launch our Select brand in Oklahoma through our partnership with Mango Cannabis, a trusted dispensary in the state,” said Joe Bayern, President of Curaleaf. “As we focus on expanding the Select brand, entering Oklahoma allows us to reach an important and rapidly evolving medical marijuana market. We look forward to serving the health and well-being of medical patients in Oklahoma.”
Currently trading at a market capitalization of $2.6B, 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%. 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.