Last week, the Colorado Department of Revenue announced it would be accepting applications for the issuance of marijuana cultivation licenses for the state’s first recreational marijuana program. The first licenses will be issued on January 1, 2014.

While most of the state has been focused on legalizing recreational marijuana, a small group of growers in the western part of the state have been growing medical pot for a few years. However, now, they’ve stepped it up by growing non-psychoactive hemp—legally—in the state.

This week, a Colorado-based dispensary chain called Green Solution, LLC, announced it was buying a large plot of land in Nebraska, potentially bringing the number of states where they’re doing business to four. The company is also vying for licenses to set up shop in Illinois, New York, and Washington D.C.. Read more about best marijuanas stocks 2021 and let us know what you think.

There may be an equally impressive story in his overseas activities.

It looks like 2021 will be the year we return to normalcy and recovery. For Curaleaf Holdings (OTC:CURLF), a vertically integrated cannabis producer, 2021 was a banner year. The company recently passed the $1 billion mark in annual revenue and generated $260 million in the first quarter of this year. This turnover increased by 170% compared to the previous year. Adjusted EBITDA was also up – by 213% year-on-year and 16% quarter-on-quarter, yielding a 24% margin. And to top it off, the company raised its outlook for the second quarter by $10 million, up 3%, and expects quarterly revenue to exceed $300 million. Revenue growth was driven by new product sales in both retail and wholesale channels, fueled by the company’s most successful launch – Select Squeeze, a beverage with THC. word-image-12848 IMAGE SOURCE : GETTY IMAGES.

Travel

May was a very successful month for Curaleaf. The company has been aggressively seeking acquisitions, adjusting its presence in Maryland in the process. It purchased Maryland Compassionate Care and Wellness, giving it a 55,000-square-foot cultivation and treatment facility and a pharmacy in Maryland. At the same time, the company sold assets in Maryland, including the TerrAscend (OTC:TRSSF) cultivation and treatment facility and a pharmacy to a private company, PharmaCann. The asset swap will allow the company to improve its facilities and strengthen its position as a leading player in the Maryland market, where it serves more than 125,000 medical cannabis patients in the state. A little further north and beyond 2021, the company plans to use $300 million of the new funding to support adult-use cannabis efforts in New Jersey and New York, where markets are estimated at $2.1 billion and $5 billion, respectively. I can almost stop writing now, because you probably already have enough reasons to be fully interested. But that’s not all. In addition to opening four new stores in Pennsylvania and Illinois – home to competitor Green Thumb Industries (OTC:GTBIF) – the company expanded overseas into Europe, where it completed the acquisition of EMMAC Life Sciences, the largest independent vertically integrated cannabis company in Europe. EMMAC provides Curaleaf with a developed platform and access to key European medical cannabis markets, including the UK, Italy, Spain, Portugal and the continent’s largest market, Germany. Through its subsidiary Adven, Curaleaf markets new medicinal cannabis products in Germany in the form of oils and dyes containing varying concentrations of the TCH/CBD combination. The market is expected to reach $2.1 billion by 2025. As for the European authorities, leaders noted that the European market is already undergoing a liberalization of cannabis policies and that they believe the European market could overtake the U.S. market in the long run, representing a market opportunity of $120 billion. Back in the United States, Curaleaf also continued to expand his presence. The recent acquisition of Los Suenos Farms in Colorado brought the state’s largest outdoor producer under the wing of Curaleaf. The acquisition adds three outdoor plants, 1,800 indoor plants and two retail pharmacies. In all these stages of expansion, management is fully aware of the importance of reducing costs. Executive Chairman Boris Jordan said in a press release about the acquisition that it is consistent with the company’s strategy of creating low-cost supply chains that offer healthy margins and allow us to participate in interstate commerce from the start. Ultimately, our goal is to grow cannabis for less than $100 per pound, and this acquisition is an important step in the right direction. The company also plans to increase its wholesale capacity by £50,000 a year, which it plans to double in order to capture even more market share. This will strengthen Curaleaf’s Select brand of cannabis products, which can currently be found in 230 Colorado dispensaries and 2,000 locations in 17 other states.

Is this a good time?

Curaleaf is currently covered by 16 analysts who have a 12-month average price target of $22 on the stock, ranging from a low of $19 to a high of $28. The current price of about $14 seems like a good deal at these target levels. Achieving even the lowest of these targets results in a 36% return. With big moves driving growth and expansion in the U.S. and abroad, Curaleaf is well positioned to enter investors’ portfolios now and stay there for the long term.It’s going to be a long weekend in Colorado, as the state’s recreational marijuana industry gets ready to celebrate 4/20 weekend. The state’s homegrown pot economy will finally have a chance to grow, as the first licences allowing commercial marijuana sales went to a number of businesses across the state, including in the suburbs of Denver, Colorado Springs and Boulder.. Read more about top marijuanas penny stocks 2020 and let us know what you think.

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