Cannabis cultivator and retailer Curaleaf Holdings Inc. (OTC: CURLF) has seen its stock rally in 2019, despite a general decline in the pot-stock market. Long-term potential and business expansion have kept investors interested, and there could be more growth if projections hold up.
In its second quarter report, Curaleaf reported a net loss of $24.4 million, but revenue was positive. Total sales were $48.5 million, compared to $14.6 million a year ago.
Curaleaf has been spending heavily. It recently acquired cannabis oil product company Cura-Partners Inc. (trading as Select), as well as cannabis retailer Grassroots. These acquisitions give Curaleaf access to more markets across the United States and make it the largest vertically integrated cannabis company in the country.
It is expected that the acquisitions will drive annual revenue close to $1 billion by 2020, which is why this stock is such a promising bargain today. The mid-term upside could be significant, especially considering that shares currently trade below $10.
The size, reach, and future scalability of Curaleaf cannot be ignored. Being a multi-state operator, its revenue will likely grow at a far greater rate than competitors. The average analyst target price of $19.30 suggests a strong upside, making now one of the best times to consider investment.
- YTD Price Growth: 13%
- 3 Month Price Growth: 20%
- 5-Day Price Growth: 34%
All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions