Curaleaf Stock Skyrockets: Here’s Why Investors Went All-In on Thursday

Marijuana giant Curaleaf lit up the market Thursday—here’s what sparked the frenzy.

The catalyst? A perfect storm of sector momentum and strategic moves that had traders hitting buy.

Wall Street’s take: Another case of ‘buy the rumor, sell the news’—or is the cannabis boom finally going mainstream?

Either way, another day, another pump. Just don’t be the bag holder when the music stops.

Investor tolerance for loss

For the quarter, Curaleaf posted total net revenue of more than $314 million, representing a slide from the over $342 million it earned in the same period of 2024. That net loss, meanwhile, was considerable but not much worse than in the year-ago frame; it deepened to $53 million ($0.07 per share) from nearly $49 million.

Image source: Getty Images.

Curaleaf continued to expand during the quarter, as it flicked the lights on in two dispensaries, one located in populous Florida (specifically the municipality of Winter Park, NEAR Orlando) and the other in Lima, Ohio. On the product side, it launched a pair of new products, Anthem pre-rolled cannabis cigarettes and Select ACE oil.

Perhaps more impactfully for the future, it was awarded a license to participate in the specialized marijuana market of another populous location, the country of Turkey. Its license gives it entry to that nation's medical pot market, which began at the end of July with a new law allowing for sales in pharmacies to qualifying patients.

Looking for legalization

As ever with marijuana stocks, they're probably not going to MOVE significantly -- and sustainably -- until full-blown legalization (or at least decriminalization) is enacted in a major jurisdiction. All eyes are on the U.S., where halting efforts in this sphere have resulted in a patchwork of states where medical and/or recreational weed sale and consumption are permitted.