Curaleaf Holdings (CSE-CURA) Hits new High, Jumps 75% Since Listing On CSE

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Ever since the legalization of medical marijuana took place, a whole range of cannabis companies sprung up over the past year or so and one of the biggest names in the industry is Curaleaf Holdings, Inc. (CSE:CURA) (OTCQX:CURLF).

Curaleaf is a vertically integrated cannabis company that is involved in a range of segment and is currently one of the most dominant players in the market. The company had its initial public offering on October 29, last year at $7.30 CAD on the CSE and since then the stock has surged by as much as 75%, thereby cementing Curaleaf’s place among the most valuable companies in the business. Curaleaf’s stock closed at $12.78 on May 21, 2019. Moreover, the stock made a record high of $13.30 in Tuesday’s trading session.

Expanded Business Aggressively

Curaleaf has expanded its business aggressively during this period and is firmly established as the biggest cannabis company in the United States. However, it has also expanded into a range of markets across the world and that makes it one of the few cannabis companies with a wide global reach. Due to its dominance of the US market and the global markets, Curaleaf remains one of the most important companies in the industry. Hence, it is not a surprise that the company is now one of the most valued one in the sector, with a valuation of $6 billion.

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Expansion Through Acquisitions

Curaleaf is not sitting on its laurels and has been expanding its footprint aggressively over the recent months. Curaleaf has made a range of key acquisitions and perhaps the boldest move was that of acquiring Cura Partners in an all-stock deal worth $949 million. Cura Partners is regulated by the state of California and remains one of the best-known cannabis brands in the affluent state.

Solid Revenue Growth

Curaleaf is into wholesale and generated revenues to the tune of $117 million in 2018. It is a highly strategic deal and with Curaleaf’s expertise, this acquisition could be turned into a cash cow in the future.

Cura Partners’ Select brand is highly popular and has emerged as the leading brand in three states, Arizona, California, and Oregon. The company believes that this acquisition will double its trading revenues.

Do you own Curaleaf stock? What do you think?