Geometry Dash APK Hill Climb Racing APK
51.1 F
New York
Sunday, April 18, 2021

Curaleaf Holdings Inc (OTCMKTS:CURLF) Soars As The Company Launches New Product

Must read

Grayscale Bitcoin Trust (Btc) (GBTC) Makes Big Move As Bitcoin Goes Wild

Bitcoin, the world’s biggest cryptocurrency by market cap, has been in the middle of a remarkable rally for the past few months...

Voyager Digital Ltd (OTCMKTS:VYGVF) Hits All-Time High on Download News

The remarkable rally enjoyed by several crypto assets over the course of the past months has also resulted in an increased demand...

Solar Integrated Roofing Corp (OTCMKTS:SIRC) Surges Higher On Sector Strength

The Solar Integrated Roofing Corp (OTCMKTS:SIRC) stock has come into sharp focus among investors and on Wednesday, the stock made significant gains...

Greene Concepts (OTCMKTS:INKW) Hits New High: Soars 500% in a 2-Week Span

It is a well-known fact that one of the best ways of going about investing in stocks is...

Despite the troubles of many cannabis stocks in recent times, Curaleaf Holdings Inc (OTCMKTS:CURLF) stock managed to emerge as one of the major gainers in the market this week.

Launch Of Popular Select Oil Brand

The Curaleaf stock gained 8% primarily because of the launch of its popular Select Oil brand in the state of Illinois.

Curaleaf Holdings Inc (OTCMKTS:CURLF) claimed that it is the most popular brand of cannabis oil in the United States. A new launch can often lead to a rally in the stock and that is what happened with the Curaleaf stock.

That being said, it is also important to point out that there is a lot of potential in the Illinois market. The state legalized consumption and sales of recreational cannabis in January 2020. Since then, the sales of cannabis have only gone up and that bodes well for Curaleaf. The product is going to be made available at a few locations in the state.

Post this launch, Curaleaf’s Select Oil brand is going to have a presence in as many as 15 states. Some of the other states in which the product has been launched include New York and California among others.

Earnings Recap

Curaleaf has been performing impressively in recent times and the second quarter; it generated revenues of as much as $117 million. That reflects a 22% sequential rise and a year on year rise of 142%. The company revealed that the impressive growth came about due to the addition of the Select brands. 

Losses had also been reduced to only $2 million from $24 million in the prior-year period. There is a possibility of the legalization of adult-use marijuana in the state of New Jersey later on this year through a ballot initiative. The state has 9 million residents and Curaleaf is the biggest distributor there. Hence, legalization in New Jersey could prove to be a massive boost for the company.

Last but certainly not least; the company has also put in place an effective acquisition strategy that is expected to fuel its growth in the years to come.

Latest article

Sundial Growers Inc (NASDAQ:SNDL) Struggles to Sustain At Higher Levels After Earnings

In recent times, plenty of cannabis stocks have been in action due to rising optimism about the sector and one such stock...

HUMBL Inc (OTCMKTS:TSNPD) On the Rebound as Investors Track Developments

If there is one stock that has captured the imagination of many investors over the past months, then it's that of HUMBL...

88 Energy Limited Ltd (EEENF) Update: Continues Climbing on Significant Volume

Investors who might be looking for stocks that have made considerable gains in recent weeks could consider having a closer look at...

Victory Resources Corporation (OTCMKTS:VRCFF) Stock Rockets After Announcing A New Acquisition

Nowadays, lithium is in huge demand across several industries and hence, it the rally in the Victory Resources Corporation (OTCMKTS:VRCFF) stock the...

iMD Companies Inc (OTCMKTS:ICBU) Sees Epic Jump On Crypto Buzz

The meteoric rise in cryptocurrencies over the past few months has resulted in a lot of interest in stocks in companies which...
Şehirler arası nakliyat ve Şehirler arası taşımacılık konusunda en uygun fiyatlar ve en kaliteli hizmet.
ofis taşıma firmaları ve ofis taşıma konusunda en uygun fiyatlar ve en kaliteli hizmet. Affordable best sms verification service