Curaleaf (CURLF) Bounces Back Sharply: Posts Solid Quarterly Numbers

It is clear to see that the cannabis sector has managed to make a pretty strong comeback over the past months and Curaleaf (OTC: CURLF) is the latest cannabis company to have seen its stock soar.

The stock soared by as high as 16% on Tuesday. However, there could be more upside in the coming days considering the fact that the company posted strong quarterly performance after the closure of markets. At the same time, the company also made an announcement with regard to the acquisition.

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The company posted record revenues of $203.5 million, which reflects a sequential rise of 26% and a year-on-year rise of 205%. However, at the same time, the net loss soared to $35.3 million, which is considerably higher than the $9.3 million posted in the previous quarter. In the prior-year period, the net loss was $26.6 million. The company also announced that it acquired EMMAC Life Sciences, which Curaleaf claimed operates the biggest vertically integrated cannabis operation in Europe. It is likely that the stock is going to be in sharp focus today.

Asan Abdiev

CEO and Editor in Chief. Living in the era of dynamic tech change Asan decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring Finance) writing for technology and as well as finance has been one of the precious aspects of his life