The Wednesday Morning Watchlist: Bottom-Pickers Delight ( $CURLF, $CVSI, $MMNFF)
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Curaleaf Holdings Inc (OTCMKTS:CURLF) operates as an integrated medical and wellness cannabis operator in the United States. Shares have been struggling, but found a clear bid on Tuesday to power back up to test key MA support at the 50-day.

The company recently announced the opening of its 25th Florida dispensary at 610 Lake Minnie Drive, as the company continues to expand rapidly throughout the state. Curaleaf has the largest cannabis dispensary footprint in the US, with 48 dispensaries across the country.

“In opening our 3rd Orlando area medical marijuana dispensary, we are proud to be able to provide patients in the communities of Sanford, Lake Mary, Lake Monroe, Longwood, Winter Springs, and Midway, Florida with access to Curaleaf’s premium quality products and educational resources,” shared Joe Lusardi, Curaleaf CEO.

Curaleaf is a major player, operating 30 dispensaries, 12 cultivation sites and 9 processing sites with a focus on highly populated, limited license states, including Florida, Massachusetts, New Jersey and New York. Curaleaf, Inc. leverages its extensive research and development capabilities to distribute cannabis products in multiple formats with the highest standard for safety, effectiveness, consistent quality and customer care. Curaleaf is committed to being the industry’s leading resource in education and advancement through research and advocacy.

Curaleaf Inc.’s Florida operations were the first in the cannabis industry to receive the Safe Quality Food certification under the Global Food Safety Initiative, setting a new standard of excellence.

It cultivates, processes, markets, and/or dispenses a range of cannabis products in various operating markets, including flower, pre-rolls and flower pods, dry-herb vaporizer cartridges, concentrates for vaporizing, concentrates for dabbing, tinctures, lozenges, capsules, and edibles.

The company also provides non-cannabis services to licensed cannabis operators in the areas of cultivation, extraction and production, and retail operations.

The stock has suffered a bit of late, with shares of CURLF taking a hit in recent action, down about -3% over the past week. Shares of the stock have powered higher over the past month, rallying roughly 12% in that time on strong overall action.

Curaleaf Holdings Inc (OTCMKTS:CURLF) pulled in sales of $46.9M in its last reported quarterly financials, representing top line growth of 11%. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($230.6M against $34.9M).

 

 

Medmen Enterprises Inc (OTCMKTS:MMNFF) just announced unaudited systemwide revenue figures for the fiscal fourth quarter 2019, which ended on June 29, 2019. According to the release, the Company also provided an update on several corporate initiatives, including efforts to optimize SG&A and raise capital, the status of the pending PharmaCann transaction and retail store expansion. the Company plans to announce financial results for Fiscal 2019 after market close on October 28, 2019.

“Q4 2019 was another quarter of solid execution for MedMen and a very strong end to our fiscal year,” said Adam Bierman, MedMen co-founder and chief executive officer. “Throughout 2019, we broadened our geographic footprint through strategic acquisitions, which leverage our existing corporate infrastructure as we enter new markets. Following the closing of pending acquisitions, we will be licensed for up to 92 retail locations across 12 states, and there is tremendous opportunity ahead to turn the balance of our retail licenses into revenue-generating storefronts.”

The stock has been under pressure lately, but this news and the strong market context contributed to a sharp rally on Tuesday that represents an interesting development in this chart.

Medmen Enterprises Inc (OTCMKTS:MMNFF), together with its subsidiaries, operates in the cannabis space in the United States.

MMNFF, more broadly, is a leading cannabis company in the U.S. with assets and operations across the country. Based in Los Angeles, MedMen brings expertise and capital to the cannabis industry and is one of the nation’s largest financial supporters of progressive marijuana laws.

The company cultivates, produces, possesses, uses, and distributes/retails cannabis in the recreational and medicinal cannabis marketplace. As of June 6, 2018, it owned and operated 18 licensed cannabis facilities under the MedMen brand name in California, Nevada, and New York.

The context for this most recent announcement is a bit of a bid, with shares acting well over the past five days, up about 8% in that timeframe.

 

 

CV Sciences Inc (OTCMKTS:CVSI) generated sales of $16.9M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 13% on the top line. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($15.7M against $11.8M).

The company just put out a key letter to shareholders. We found the following passage very interesting, to say the least:

“Last week we issued our second quarter results, reporting the highest quarterly revenue in our company’s history, continuing a streak of 14 consecutive quarters of sequential revenue growth. This consistent growth is a reflection of the strength of the PlusCBD Oil brand and our growing distribution across retail channels. Year to date, we have more than doubled the number of retail doors where PlusCBD Oil products are carried, and we continue to enjoy a strong pipeline of new distribution opportunities. The fundamentals of our business are strong and our opportunity grows daily as consumer demand for hemp-based CBD products continues to expand at a rapid rate. We are proud of our second quarter results, but like you, we are disappointed by the market’s reaction. We pride ourselves on giving comprehensive quarterly updates, and our discussion of increased competition reflects what we see in our business today. But, as I noted on our second quarter conference call, incremental competition may lead to choppy quarter to quarter results. However, it does not detract from the rapidly growing market opportunity and expanding distribution, which along with our continued investments in our brand and industry leading quality, are the foundation of our long-term growth trajectory.”

CV Sciences Inc (OTCMKTS:CVSI) bills itself in terms of two distinct business segments: a drug development division focused on developing and commercializing novel therapeutics utilizing synthetic CBD; and, a consumer product division focused on manufacturing, marketing and selling plant-based CBD products to a range of market sectors.

The company focuses on developing and commercializing prescription drugs utilizing synthetic cannabidiol (CBD) as the active pharmaceutical ingredient. Its initial drug candidate is CVSI-007 that combines CBD and nicotine for the treatment of smokeless tobacco use and addiction.

The company also engages in the development, manufacture, marketing, and sale of consumer products containing plant-based CBD under the PlusCBD Oil name in various market sectors, including nutraceutical, beauty care, specialty foods, and vape.

The stock has suffered a bit of late, with shares of CVSI taking a hit in recent action, down about -19% over the past week. But Tuesday offered some bounce action that may represent a technical healing process gaining traction after the recent bloodletting.

 

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