Curaleaf's Long-Term Potential Shrouded by Near-Term Uncertainty Around Legalization Pace

Curaleaf cultivates and sells cannabis in the U.S. with a presence in 18 states. Vertically integrated, Curaleaf produces through 21 cultivation sites and sells directly through 146 dispensaries and wholesale to other dispensaries. Compared with other multistate operators, Curaleaf has generally employed a more aggressive growth strategy, which hasn't always paid off, leading to exits and sales.