Is Curaleaf stock a solid buy in 2020?
Curaleaf Holdings (OTC: CURLF) is a cannabis company that prides itself on the medical strains, oils, vaping liquids, tablets, and edibles that if offers in various product dosages, cannabinoid ratios and flavors, which are made available in dispensaries to allow clients to live better lives. Curaleaf is expected to reach the $1 billion mark, based on annual revenue calculations – making it the first of its kind to reach this milestone in the industry. But is Curaleaf cannabis stock a solid buy in 2020?
It is one of the boldest Canadian-based cannabis companies, operating in the US, with an outstanding reach of 50 dispensaries and 14 cultivation sites spread across 12 different states, with its focus set on becoming one of the leaders in the cannabis industry.
Should I buy Curaleaf Stock in 2020?
Before deciding to add Curaleaf cannabis stock to your portfolio, it is best to get up to speed on how the company has been doing so far. Curaleaf has been employing a brilliant acquisition strategy to grow as fast as it can, making it one of the most successful multistate cannabis industry operators (MSO) in the country. Currently, Curaleaf is trying to acquire Grassroots – a privately owned cannabis operator. If the company can strike this deal, it will give them access to 17 additional cultivation sites and cater to 20 additional dispensaries – allowing the company to expand operations from the East Coast to the Midwest as well.
Last year, Curaleaf was able to reach $48.5 million during its second-quarter – this figure is 38% higher than what it was able to achieve in the past three months and things are expected to only get better in the third quarter for this company. This news makes Curaleaf a very promising cannabis stock to buy, even in 2020, during the pandemic.
Hold your horses, though – there are some things you need to evaluate with Curaleaf shares before investing.
Curaleaf: Racking Up Debt and Expenses
Curaleaf is currently buried in debt, and interest expenses, which approximate to around $6.4 million, and its tax expenses have skyrocketed to $8.2 million. The company is still currently able to make lease payments through sales-leaseback agreements. Meanwhile, its journey towards inching closer to the $1 billion mark has gotten even more challenging, thanks to the pandemic. The company is firmly focused on paying off debts that it has managed to gather over the past few months. Despite all the positive news about the Curaleaf stock, this is still one cannabis stock to watch.
However, during the past 24 hours, we’ve seen a Bullish Breakout here in the short term based on technical analysis by Tradingview.com. If you’re willing to assume some risk, this could be a solid cannabis stock to buy, watch closely and sell soon before another downward trend.
Curaleaf is a life science company, which engages in owning and managing licensed cannabis businesses that cultivate, process, and/or dispense cannabis and cannabis-derived products. It operates through Cannabis Operations and Non-Cannabis Operations segments. The Cannabis Operations segment production and sale of cannabis via retail and wholesale channels. The Non-Cannabis Operations segment provides professional services including cultivation, processing and retail know-how, and back-office administration, intellectual property licensing, real estate leasing services, and lending facilities to medical and adult-use cannabis licensee. The company was founded on November 13, 2014, and is headquartered in Vancouver, Canada.
Is Curaleaf stock a solid buy in 2020?
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