Curaleaf Holdings Inc (OTCMKTS:CURLF), one of the leaders in the North American MSO cannabis space, just announced plans to open two new dispensaries in Pennsylvania. Curaleaf’s latest locations in Greensburg and Wayne will increase the Company’s retail footprint to 14 dispensaries statewide and 125 across the country. Two additional locations, Curaleaf Erie (7891 Peach St.) and Curaleaf State College (1248 S Atherton St.), are expected to open by the end of February, pending regulatory approval.
According to the release, Curaleaf Greensburg, located at 5133 US-30, is the first of the dispensaries to hold a Grand Opening today, January 20. Curaleaf Wayne, located at 707 Lancaster Ave., has already undergone a soft opening and will celebrate its Grand Opening on Thursday, January 27. The Company’s newest retail locations are dedicated to being a leading resource in research-based patient education and advocacy. Patients will have access to a selection of Curaleaf’s top-selling vaporizer and whole flower products, including Select Elite, Select Elite Live, Grassroots Full-Spectrum RSOs, RSO capsules, prepackaged flower, distillate cartridges, strain-specific vape cartridges, as well as cured and live concentrates.
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. 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.
The company 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.
It 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.
As noted above, CURLF just announced plans to open two new dispensaries in Pennsylvania. Curaleaf’s latest locations in Greensburg and Wayne will increase the Company’s retail footprint to 14 dispensaries statewide and 125 across the country.
“Curaleaf is proud to broaden its scope of patient care and provide premium medical marijuana products to our Greensburg and Wayne medical communities,” said Chief Executive Officer Joe Bayern. “Our latest retail expansion allows us to further support patients in the state of Pennsylvania and work with esteemed scientists on essential medical marijuana studies that will empower both physicians and patients to make confident and informed decisions.”
We’ve witnessed -3% during the past week in terms of shareholder gains in the stock, but that move comes in the context of a larger bearish trend. However, CURLF has a track record that includes a number of dramatic bounces. Furthermore, the company has benefitted from a jump in recent trading volume to the tune of 45% above the average volume levels in play in this stock over the longer term.
Currently trading at a market capitalization of $4.6B, CURLF has a significant war chest ($401.8M) of cash on the books, which stands against about $424.7M 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 $1.4B. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 64.4%. We will update the story again soon as developments transpire.
