This post first appeared on Micro Cap Daily
Curaleaf Hldgs Inc. (OTCQX: CURLF) stock price has been performing excellently in 2019, with almost constant growth, apart from an occasional mild correction whenever its price bumps into a massive resistance. The company’s stock price has seen a significant drop in 2018, and ever since — it has been aiming at recovery. Now, after five months of constant surges, that recovery seems closer than ever.
Curaleaf is currently seeing its stock price above the massive resistance level at $11 — a former roadblock which held through an entire month of April. However, it finally fell after the price gathered new momentum, and it might even start acting as a support level that will hold the price in case of a future decline.
Who is Curaleaf Holdings and what does it do?
Curaleaf Holdings is a US-based cannabis company that specializes in the production of medical and wellness cannabis products. The company is dedicated to making life better for those who require medical cannabis, and it does so by employing experts in various fields. Their collective experience allowed the company to quickly rise through the ranks and become hugely successful in this industry.
Curaleaf has already expanded to numerous states, where its brand became well-known for its quality, reliability, and trust. The company currently has 43 dispensaries, 12 cultivation sites, and 11 processing sites, spread throughout 12 different US states.
Its locations even include the first medical marijuana drive-thru, which they recently opened in Florida.
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Curaleaf’s progress in 2019
As mentioned, Curaleaf has experienced a long and devastating stock price drop in 2018, one that brought the company’s stock down to $4. This was the state in which CURLF was at the end of 2018. However, things started to change in the final days of December, right after the US 2018 Farm Bill approval. The company started seeing massive success yet again, and it used the new momentum as soon as possible.
It started opening new dispensaries in the first days of January, including two new ones in Florida, as well as one in the state of New York. The company also announced to expand to Maryland, and only days later, it received a processing license for Ohio. In mid-March, the company also announced a strategic acquisition which will allow it to enter the Californian market, which is the one with the most demand in the country.
However, the firm did not stop there, and it also announced a strategic acquisition in Nevada, which was followed by opening yet another dispensary in Florida. This became its 23rd facility, and the company also announced its first medical marijuana drive-thru in Miami.
Curaleaf also acquired Eureka, it opened its 24th Florida dispensary in Orange Perk, thus ending the month of April on a very successful note.
While it has only been nine days of May 2019 so far, the firm released some significant news, such as plans to acquire Select — one of the leading cannabis wholesale brands. However, this is also not the end, as the firm plans to bring a new initiative to increase veterans’ access to medical cannabis in Arizona. It also won the rights to cultivation and processing capacity in Ohio, and it got a new Vice President, Dan Foley.
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It is clear that Curaleaf is progressing at a rapid pace, and its stock price is headed for the moon. It is definitely one of the best choices for investors interested in the cannabis industry, and while its stock price is already grown quite high, it is likely to surge even higher in weeks and months to come. Purchasing it now is bound to bring a major profit in a span of a few months, so it is certainly something to consider. We will be updating on Curaleaf when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Curaleaf.
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Disclosure: we hold no position in Curaleaf either long or short and we have not been compensated for this article.
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This post first appeared on Micro Cap Daily