Curaleaf Holdings Inc. said late Wednesday that CVS Health Corp. will carry its line of CBD products, an important deal for the U.S. cannabis retailer that could put its CBD products in front of many more Americans.
Curaleaf CURLF, +3.44% shares ended Wednesday’s session at $6.86, giving it a market capitalization of more than $3 billion; the company’s shares do not trade after hours. CVS CVS, -1.63% shares were down less than 0.1% in extended trading after the announcement. Curaleaf on Wednesday reported widening net losses, while growing revenue more than 400%. The company reported fourth-quarter net losses of $16.5 million, or 4 cents a share, compared with profits of $624,000, or zero cents a share in the year-ago quarter. Revenue rose to $32 million from $6.3 million in the year-ago period, excluding revenue from managed entities.
Cvs - bullish?