Major cannabis stocks are trading upwards on the US and Canadian markets today! A mass sell-off of stocks occurred on Christmas Eve, but it seems the market is making a comeback—especially cannabis-related stocks. Today, we’ll take a closer look at Curaleaf Holdings (CSE:CURA) and CURA stock.
Let’s dive in!
CURA Stock Up 20% Due to Expansion
Curaleaf Holdings is headquartered in Wakefield, Massachusetts. The cannabis company cultivates, markets, processes, and dispenses cannabis products in the US. Curaleaf also offers non-cannabis services to licensed cannabis operators in the areas of production and extraction, cultivation, and retail operations.
As of early December 2018, the cannabis company operated through 34 dispensaries, in 12 US states. In addition, Curaleaf operates out of 12 cultivation sites and ten processing sites. The company was founded back in 2010. There’s a reason why CURA stock has jumped up on the CSE this morning.
The cannabis company has made three major announcements in the last 24 hours. First, Curaleaf announced it would expand its operations in Maryland. The company has agreed to a series of agreements that will expand its operations as well as give patients more access to medical cannabis.
Curaleaf’s announcement states:
“The agreements include the completion of $30 million in convertible financing with the owners of HMS Health, LLC, HMS Processing LLC, HMS Sales, LLC, and MI Health LLC (the ‘HMS/MI Businesses’), and also a $2 million acquisition of an option to acquire Town Center Wellness, LLC (operating as Elevate Takoma).”
In addition to this news, the cannabis company announced it won an Ohio processing license. Curaleaf already has a strong presence in Ohio, but this further expands its presence in the state.
“So far in 2019, Curaleaf has opened two dispensaries in Florida, one in New York, and announced a management agreement with multiple dispensaries in Maryland. Our entry into Ohio furthers our multi-state operating strategy,” said CEO of Curaleaf Joe Lusardi.
The last piece of news released is that the cannabis company will be presenting at the Benzinga Cannabis Capital Conference that is held in Miami, Florida on January 16th.
CURA Stock Movement
According to Yahoo Finance, CURA is trading at $7.90 a share, up +$0.22 (+2.86%). Within the last 30 days, CURA shares are up nearly 18%.
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