Curaleaf Holdings (CSE:CURA) (OTCQX:CURLF) has several subsidiaries, including Curaleaf New York, which today announced that it launched New York State's first medical cannabis flower product. At the time of writing, the news has not done much to impact Curaleaf stock; it is currently trading in the red.
Here's what we know.
Curaleaf Stock Trades Down Despite NY Product News
On Monday, September 23, Curaleaf New York said it launched Curaleaf Ground Flower Pods. These pods are the state of New York's first medical cannabis flower products. The Curaleaf Ground Flower Pods will be available soon at all of Curaleaf's dispensaries in the state (there are four). For the time being, however, the launch was only at the company's Carle Place dispensary in Nassau County, Long Island.
"Curaleaf is very pleased to be launching the first medical cannabis flower products to be offered in New York state, which is first and foremost a win for our patients," said CEO of Curaleaf Joseph Lusardi. And a win for patients, it is. For limited release, Curaleaf Holdings has made available a new method of taking cannabis by offering medical cannabis patients ground flower pods; these pods are in medical vaporizers. Will this help Curaleaf stock in the long run?
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"Flower is cannabis in its raw form and therefore the most affordable form of cannabis. We can increase patient access by providing more affordable products and offering more options for patients in the medical program."
This is not the first time Curaleaf has done something to expand patient access in 2019. For instance, earlier this year, the cannabis company launched a delivery service program. And yet, the company's dedication to its patients has not affected its stock. At least, not today.
At the time of writing, Curaleaf stock is trading at $7.97, which puts the stock down 0.19% on the OTC market.
Takeaway
What do you think about Curaleaf Holdings launching New York State's first medical cannabis flower products? Will this launch put Curaleaf in its own category of success? Let us know your thoughts in the comments below.
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