2023-04-14 10:01:38 ET
- Curaleaf Holdings ( OTCPK:CURLF ) fell 9% after a New Jersey regulator declined to renew the annual license for the cannabis producer, which allows the company to cultivate and sell adult use cannabis within the state.
- "As the largest operator and market share leader in the state, the unexpected ruling clearly represents a crushing blow for CURA, which is sure be appealed," Wedbush analyst Gerald Pascarelli, who has an outperform rating and $3.90 price target on Curaleaf, wrote in a note on Friday.
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Curaleaf Holdings sinks after losing N.J. license renewal in `crushing blow'