CA - Curaleaf Stock: The Rally Stalls After Q4 Earnings

2024-03-08 15:00:13 ET

Summary

• Curaleaf's share price has doubled since early February 2024, defying a bearish outlook.
• The lack of federal legalization is hindering the U.S. cannabis industry's growth potential.
• CURLF's market cap has increased by 74.4% since May 2023, making it the top marijuana company by market cap.

On May 2, 2023, in a Seeking Alpha article on Curaleaf Holdings, Inc. ( OTCPK:CURLF ), I was not optimistic about the prospects for the marijuana company. The shares were at the $2.48 level when I wrote:

The bottom line is the bearish trend looks set to continue. In the current environment, companies with earnings and cash are king while those burning capital are likely to become a pile of ashes. M&A could be the only way out in a market where cash is king, and investors are looking through lipstick on pigs. ...

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