Does Columbia Care Deserve a Place in Your Cannabis Portfolio?

Stock Markets34 minutes ago (Jun 09, 2021 09:31AM ET)

(C) Reuters. Does Columbia Care Deserve a Place in Your Cannabis Portfolio?

Multi-state cannabis operator Columbia Care (OTC:CCHWF) has been expanding its medical cannabis operations rapidly to capitalize on growing demand for marijuana in the United States. However, given that the company is far from profitability at a time when competition in the sector is intense and growing, the question is, will CCHWF’s share price be able to advance in the near term? Read more to find out.One of the largest multi-state cannabis operators, Columbia Care Inc. (CCHWF) manufactures and supplies cannabis-based health and wellness solutions and derivative products. The company holds licenses in 15 jurisdictions in the United States and the European Union.

Shares of CCHWF have advanced 104.6% over the past year due to its rapidly expanding national and regional footprint and progress on key acquisitions in California and Colorado. However, its stock price has declined by 8% over the past month. Closing yesterday’s trading session at $5.65, CCHWF’s stock is trading 28.4% below its 52-week high of $7.89, which it hit on February 10.

While investors remain optimistic about the company’s strategic investments in the New York, New Jersey and Virginia markets, it hasn’t been able to generate much profit from its business so far. Furthermore, with increasing legalization of cannabis in the United States, the competition in this space is expected to intensify.

Continue reading on StockNews

Does Columbia Care Deserve a Place in Your Cannabis Portfolio?

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Related Stories


Fraud protection startup nSure AI raises $6.8M in seed...

Fraud protection startup nSure AI has raised $6.8 million in seed funding, led by DisruptiveAI,...

Commsor buys Meetsy to build community tools for all

Mac Reddin, the co-founder and CEO of Commsor, met the first professional investor for...

How one founder is bringing the global corporate security...

When Cory Siskind finished school, she was dropped into a high-stakes job helping large...

Popular Categories