Curaleaf gets supply and European re-rating upside.
Curaleaf is strategically strong because it has the largest cannabis distribution in Europe/Asia but is supply-constrained; Aurora's Canadian facilities could be nearly doubled in productivity to supply those networks. Curaleaf also has massive tailwinds from double-digit Europe/international growth and potential European regulatory changes that could trigger a significant re-evaluation.
The U.S. cannabis sector is a massive buying opportunity because rescheduling to Schedule 3 widens the investor pool, brings back institutional money, reduces cost of capital, and will lead to significant consolidation and a valuation reset.