For a while, Canadian cannabis companies received practically all the limelight. As a result, Canopy Growth (NYSE:CGC) emerged as one of the most well-known players in the cannabis industry. It also grew to become the biggest cannabis stock based on market cap.
U.S.-based cannabis companies for the most part haven’t enjoyed as much attention from investors. That’s changing now, with Curaleaf Holdings (OTC:CURLF) stepping to the forefront.
So far this year, Curaleaf’s shares have soared more than 40% while Canopy stock has slipped more than 10%. But which of these two marijuana stocks is the better pick now?
The case for Curaleaf
Curaleaf ranks as one of the largest vertically integrated multi-state cannabis operators in the U.S. The company currently operates 95 cannabis dispensaries in 23 states. It runs 22 cultivation sites and more than 30 processing facilities.
Business has been absolutely booming for Curaleaf. The company reported record revenue (including revenue from managed entities) in the second quarter of $121.4 million, up 120% year over year and 16% quarter over quarter. It’s not quite profitable yet, but its bottom line is moving in the right direction. Curaleaf also already consistently generated positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA).
There’s no question that Curaleaf will continue to grow in the near future. Its recent acquisitions of Chicago-based Grassroots and Arrow Alternative Care, which