For pot stocks, the legalization of marijuana has been a huge asset for many companies across the globe. In that time, certain pot stocks have emerged as big players in the marijuana industry. A pot stock to watch Canopy Growth (CGC Stock Report) is certainly one the biggest in the space. That being said, when an industry is growing it’s natural that other companies soon emerge. These new companies tend to present competition for the other players in the industry. One particular cannabis stock that has the potential of climbing to the top is Curaleaf.
What’s The Deal With This Pot Stock
One of the biggest advantages that Curaleaf Holdings (CURA Stock Report) (CURLF Stock Report) enjoys over Canopy Growth is that it is based out of the United States. With that Curaleaf has access to the 11 states in which marijuana has been legalized. Canopy is still only a player in hemp space but most of its operations are in Canada. On the other hand, the process of legalizing marijuana is still being considered by several other states. While it is true that there is some time before it is going to be legalized federally, it is not completely out of the question.
The United States has the biggest market for marijuana. And in some parts of the niche pot stocks have managed to capture that side of the market. While other cannabis stocks look to pick up momentum. In its second-quarter results, the company generated a year on year revenue growth of 231%. Its revenues for the quarter hit $48 million. However, more importantly, Curaleaf managed to improve its bottom line and posted EBITDA earnings of $3.4 million. It is quite clear that the company is on the right path and is based out of the United States could well prove to be the company main competitive advantage in the long run.
Pot Stock News And Updates
Recently Curaleaf announced the opening of its 26th Florida dispensary at 1994 Kings Highway in Port Charlotte. Curaleaf has the largest cannabis dispensary footprint in the US with 49 dispensaries across the country and continues to execute on its strategy of rapid expansion in Florida. This could prove to create more steam not just as a pot stock but as a business.
Curaleaf’s Port Charlotte medical cannabis center will celebrate its grand opening with an event in partnership with the Charlotte County Chamber of Commerce on Thursday, September 12, 2019.
The 3,600 square foot location is easily accessible off I-75 to serve patients in Port Charlotte, Charlotte Harbor, Punta Gorda, Solana, Harbour Heights, and Lake Suzi. “It’s part of our continuing effort to expand our footprint in Florida to provide patients with access to Curaleaf’s premium medical cannabis products and educational resources,” said Joe Lusardi, Curaleaf CEO.
Curaleaf will be launching a series of weekly seminars on cannabinoids for local patients, physicians and community members in Port Charlotte, and team members will be available for free private consultations for new patients needing assistance registering with Florida’s Department of Health. The State of Florida’s Office of Medical Marijuana Use Registry requires an order from a qualified Florida ordering physician and a State of Florida medical marijuana card to obtain medical marijuana products.