Could Curaleaf Be a Millionaire-Maker Stock?
While many Canadian pot stocks have struggled in 2020, a few U.S. cannabis stocks had a marvelous year -- among them, Curaleaf Holdings (OTC: CURLF). While the benchmark Horizons Marijuana Life Sciences ETF is down 4% for the year, Curaleaf's stock has soared 96%. And it has a lot more potential packed in.
Not only did Curaleaf show consistent triple-digit revenue growth this year, but last month, it reported another quarter of positive EBITDA (which stands for earnings before income, tax, depreciation, and amortization). Its balance sheet is stable, so it's in good financial shape to expand into the new markets that were opened up by the cannabis legalization initiatives that passed in various states this November. At this point, a total of 35 states and the District of Colombia have legalized the use of cannabis for medical purposes, while 15 states and D.C. allow its recreational use by adults. Let's evaluate how prepared Curaleaf is to capitalize, and whether it can make millionaires out of investors along the way.
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