Trulieve CEO To DeSantis Weed Bashing: Cannabis Is 'Scientifically, Evidence-Backed Healthier' Than Alcohol, Legalization Will 'Improve Quality Of Life'
Portfolio Pulse from Maureen Meehan
Kim Rivers, CEO of Trulieve (OTCQX:TCNNF), responded to Florida Governor Ron DeSantis's negative views on cannabis legalization, arguing that cannabis is scientifically proven to be healthier than alcohol and that its legalization in Florida would improve residents' quality of life. Trulieve has contributed $40 million to the Smart & Safe Florida campaign to support the cannabis legalization initiative, known as Amendment 3, which will be on the November 2024 ballot. If passed, this initiative could significantly expand the market for existing medical cannabis companies and increase state tax revenues.
April 09, 2024 | 1:16 pm
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Trulieve, under CEO Kim Rivers, is actively supporting the cannabis legalization initiative in Florida, which could significantly expand its market and increase state tax revenues if passed.
Trulieve's substantial financial contribution to the Smart & Safe Florida campaign demonstrates the company's strong commitment to expanding the cannabis market in Florida. The passage of Amendment 3 would likely lead to increased market opportunities and potentially higher revenues for Trulieve, given its existing presence in the state's medical cannabis sector. This strategic move aligns with the company's growth objectives and could positively impact its stock price in the short term.
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