Curaleaf stock tumbles toward record low after NJ denies license renewal, but analyst sees case for company to appeal and sue

The U.S.-listed shares of Curaleaf Holdings Inc.

tumbled 10.2% toward a record low in morning trading Friday, in the wake of the decision by the New Jersey Cannabis Regulatory Commission to deny the renewal of the Massachusetts-based company’s cultivation and retail licenses for adult use. “We believe the CRC Board has wrongly interpreted the applicable regulations and that its decision to retaliate against Curaleaf for our need to consolidate production into one local facility is lacking in merit,” said Curaleaf Chairman Boris Jordan.

tumbled 10.2% toward a record low in morning trading Friday, in the wake of the decision by the New Jersey Cannabis Regulatory Commission to deny the renewal of the Massachusetts-based company’s cultivation and retail licenses for adult use. “We believe the CRC Board has wrongly interpreted the applicable regulations and that its decision to retaliate against Curaleaf for our need to consolidate production into one local facility is lacking in merit,” said Curaleaf Chairman Boris Jordan.

Curaleaf remains open for business and will continue working with the CRC Board and its staff to ensure renewal of our adult use licenses, including by any legal means necessary.

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