By Dalton Rosario
There is much buzz surrounding cannabis company CuraLeaf. Having received the largest stock offering of $400M in U.S. cannabis history, CuraLeaf is looking to open an additional eight dispensaries before year’s end, totaling their retail distribution to 41 locations in 10 states nationwide. By this time next year they are projecting to generate a revenue stream of $400M by opening an additional 30 dispensaries in 12 states.
At nearly 10 times the population size of Canada, CuraLeaf is positioned to become a titan of industry in the $50B U.S. cannabis sales market. Last month, October 29th, 2018 CuraLeaf went public (CURA.Canada) on Toronto’s Canadian Securities Exchange at $11.42 per share. Despite a steady decline in stock value since going public the market leveled at $7 a share today.
Although NASDAQ and the New York Stock Exchange are unwilling to invest in U.S. cannabis companies due to the ongoing volatility of federal prohibition, profitable trading throughout international markets will cause a catalyst of legalization. Since cannabis is federally illegal domestic banks hesitate to accept proceeds, forcing these profits to be stashed, and likely re-invested internationally in countries that facilitate the growth and expansion of pro-cannabis industries of commerce.
