FIRST POT STOCK TO REACH $1 B
First Pot Stock expected to hit $1 Billion valuation. This is the goal for Curaleaf Holdings, who expects to be the first cannabis company to be valued above $1 billion, according to The Motley Fool investor news.
Curaleaf operates in a handful of states and has multiple locations in Arizona. The company currently generates about $165 million in quarterly revenue and maintaining this level of sales would value them at about $660 million, based on yearly revenue. Curaleaf is growing fast but would need to double their current growth rate to reach one billion dollars by 2021. A lot can change in the next twelve months that makes this growth increase possible in the industry. Legalization, the pandemic, and changes in the economy are expected to grow the market, but no one is certain by how much. The main competitor for Curaleaf is Trulieve Cannabis, who posted increased sales from $57 million to $120 million for an increase over 100%. Green Thumb Industries also posted $119 million in quarterly sales, up a whopping 167% since last year. Any of these companies could potentially reach the one billion mark in the next year if the right factors fall into place.
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Michael Cassini is the founder and editor in chief of The Cannabis Cactus Magazine. He focuses on community relationships with a goal to maintain a culture of love, peace and knowledge in the cannabis industry.