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Curaleaf Opens First Recreational Cannabis Dispensary on Cape Cod

By Eric Volkman - Jan 29, 2020 at 10:26PM

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The store is located in the busy Cape municipality of Provincetown.

Curaleaf (CURLF 1.37%) is a pilgrim in its home state of Massachusetts. On Wednesday, the company opened the first recreational cannabis dispensary in Cape Cod. 

Curaleaf said that the new dispensary, located at the tip of the Cape in the city of Provincetown, will be open throughout the week, although it will close one hour earlier on Sunday. The opening times will be expanded during the summer months, a time when many tourists descend on the Cape.

The store's grand opening celebration is to take place next Thursday, Feb. 6, Curaleaf said.

Generic dispensary sign.

Image source: Getty Images.

The announcement comes less than three months after Curaleaf opened its first recreational-use dispensary in Oxford, Massachusetts, located in the central part of the state not far from its border with Connecticut. 

The company is based in Wakefield, in northeastern Massachusetts. Although its latest venture is not far from its home office, the company has ambitions to be a presence throughout the U.S. At the moment, it says it has 52 dispensaries in operation across the country.

In spite of this reach, Curaleaf professed that "[p]roviding high quality and reliable products to patients and customers in our home state is a key part of Curaleaf's mission."

Massachusetts is one of the few East Coast states that has legalized recreational use and consumption. The state's populace voted this into law in 2016 in a ballot measure, and sales of licensed product began in 2018.

The share price of Curaleaf, a popular marijuana stock, rose to close almost 3% higher on Wednesday.

 

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