#3 - Curaleaf (OTCMKTS:CURLF)
Curaleaf (OTCMKTS:CURLF) has operations in 23 of the United States. The Massachusetts-based company is the largest medical marijuana distributor in New Jersey. In this case, timing is everything. The state has a ballot initiative that, if passed, will legalize adult-use recreational marijuana. And if recent polling is accurate, that initiative looks likely to pass.
This would put Curaleaf in a position to capitalize on that vote. But more importantly, if New Jersey legalizes adult-use recreational marijuana, it is likely that other Northeast states will follow.
Curaleaf currently brings in over 20% of the total medical marijuana revenues in New Jersey. But the company is growing smartly. Curaleaf posted $117 million in revenue last quarter, which marked 22% sequential growth and a 142% year-over-year increase.
Furthermore, Curaleaf is slowing its cash burn. The two million the company lost in the prior quarter was 12x less on a year-over-year basis. This puts Curaleaf in a position where it could be profitable in 2021, a significant accomplishment for cannabis companies.
About Curaleaf
Curaleaf Holdings, Inc operates a cannabis operator in the United States. It operates through two segments, Domestic Operations and International Operations. The company offers flower, pre-rolls, flower pots, and dry-herb vaporizer cartridges; concentrates for vaporizing which includes pre-filled vaporizer cartridges and disposable vaporizer pens; and concentrates for dabbing, such as mints, distillate droppers, mints, topical balms and lotions, tinctures, lozenges, capsules, and edibles.
More- Current Price
- $1.49
- Consensus Rating
- Buy
- Ratings Breakdown
- 2 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $6.25 (319.5% Upside)
