Benzinga | Jul 23, 2021 10:08AM EDT

Curaleaf Stock Gained 76.68% Over The Past 12 Months As Cannabis Giant Continues To Expand, Opening Its 108th Store In The U.S.

Curaleaf Holdings, Inc. (CSE:CURA) (OTCQX: CURLF) opened a new Curaleaf-branded medical marijuana shop in Wells, Maine on Friday.

This is the company's fifth branded location in Maine and 108th in the U.S. Curaleaf, based in Massachusetts, already has one adult-use and four medical locations in the state.

The new store, located at 913 Post Rd., Wells, ME 04090, is offering patients a 10% discount on their first purchase and free delivery service from July 23-25. What's more, to celebrate the opening, Curalaef is giving the 100 first patients a bag of mixed treats.

Curaleaf Maine will also make a $5,000 donation to a local veteran's organization, VetFuel.

The company's first Curaleaf-branded store in Wells offers premium medical cannabis products, education and curbside pick-up. Thanks to the state's regulations, the store can also serve out-of-state patients who hold a valid medical marijuana certification and a corresponding ID.

"It's important for medical patients to have access to the medication they need while traveling, and Curaleaf Wells is happy to provide continued access to quality products and expertise our patients know and trust," Scott Reed, general manager at Curaleaf Maine stated. "We are excited to be in Wells and serve our expanded patient community."

Recent Curaleaf News

Several weeks ago, Curaleaf announced it had partnered with Agrify Corporation

(NASDAQ: AGFY) on a project to determine the effect of cultivation environment on the overall health of cannabis plants and harvest yields.

At the beginning of July, Cantor Fitzgerald's Pablo Zuanic reiterated an 'Overweight' rating and kept the price target of $26.50 as well as estimates on Curaleaf's stock, after the talk with the company's chairman Boris Jordan about federal and state regulatory changes and the company's plans both here and across the pond.

Price Action

Curaleaf shares were trading 1.14% lower at $13.03 per share at the time of writing Friday morning.

Photo: Courtesy of CRYSTALWEED cannabis on Unsplash