Curaleaf’s Curious Cannabis Industry Status

Curaleaf’s Curious Cannabis Industry Status
High Times

Curaleaf is currently the dominant U.S. cannabis company by market share. By design, the company has entered state markets (and increasingly international ones like Germany) where the barriers to entry are high. This is how it protects its position. No matter its omnipotence, however, the scandals surrounding the company keep coming—including this summer—and there are some who are wondering about the ability of Curaleaf. It could be that this new scrutiny is merely part of the reflected media glare on the cannabis industry in general thanks to both advancing legalization globally, not to mention the recent implosion of Juicy Fields. Indeed the deets on the self-destruction of the crowdfunding, e-growing company continue to be satisfyingly “juicy,” including recently revealed connections to German aristocracy to blood the hounds for more. In part such scrutiny is also occurring because it is clear that the stakes are increasingly higher. It is also clear that no matter how enthusiastic one is about cannabis reform, the sleezier side of the industry to date has still not dissipated in any large measure. No matter the reason, this summer’s sudden interest in cannabis scoundrels seems a bit like a repeat of the purging seen in 2019—of executives if not the companies themselves—and which affected large and supposedly indomitable companies including CannTrust and Canopy. Whatever the immediate trigger, Curaleaf’s PR department has their work cut out for them. Source of Funds: The Russian Connection Sources of funding are increasingly an issue for the industry. In part this is because of the spectacular flameouts so far of other “innovative” strategies to raise cash. It is also because legalization creates a mandate for much cleaner sources of finance. This is one of the biggest liabilities that Curaleaf faces. Here is why. Curaleaf’s owners have long-standing and significant Russian roots. The…

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