Streetbeat News

TCNNF

Trulieve Cannabis Corp

Employees

9,000

Industry

Medicinal and Botanical Manufacturing

Open

6.70

Mkt cap

1.3B

Volume

103K

High

6.74

P/E Ratio

-9.49

52-wk high

14.50

Low

6.40

Div yield

N/A

52-wk low

4.75

The Department of Justice's move to reclassify cannabis from Schedule I to Schedule III has led to a surge in cannabis stocks and ETFs. The AdvisorShares Pure US Cannabis ETF (MSOS) and AdvisorShares Pure Cannabis ETF (YOLO) saw significant gains. Cresco Labs (CRLBF) and Gold Flora (GRAM, GRAMW) reported mixed earnings, while Trulieve Cannabis (TCNNF) led in revenue and EBITDA growth. The reclassification aligns with a Democratic strategy to advance cannabis reform ahead of elections.

Portfolio Pulse from Patricio Liddle

May 21, 2024 | 5:45 pm

Four small-cap cannabis stocks—Medical Marijuana Inc., TILT Holdings, Trees Corp., and Village Farms International—showed positive performance despite the broader sector's downtrend. These stocks present potential investment opportunities due to their operational efficiencies and financial metrics. In contrast, larger cannabis companies like Curaleaf Holdings, AdvisorShares Pure US Cannabis ETF, Canopy Growth, Trulieve Cannabis, and Green Thumb Industries experienced declines, with only Aurora Cannabis showing a slight increase.

Portfolio Pulse from Nicolás Jose Rodriguez

May 20, 2024 | 8:44 pm

Kim Rivers, CEO of Trulieve, discussed the potential impact of Florida's upcoming cannabis legalization ballot and the company's strategic direction amid regulatory changes. Trulieve has invested heavily in advocacy efforts and has seen significant financial success. Governor Ron DeSantis is expected to respect the will of the people if the legalization is approved.

Portfolio Pulse from Maureen Meehan

May 20, 2024 | 8:35 pm

Marijuana stocks experienced a bearish Monday with several companies seeing significant losses. Notable gainers included Heritage Cannabis Holding, 1933 Industries, and Target Group. Major losers included Flower One Holdings, Elixinol Wellness, and Pharmadrug.

Portfolio Pulse from Benzinga Insights

May 20, 2024 | 8:30 pm

The Justice Department has initiated the process to reclassify marijuana from Schedule I to Schedule III, which could significantly impact the cannabis industry. This move is supported by a majority of American voters and could boost cannabis research. The U.S. cannabis ETF MSOS saw a mixed trading session following the news. Companies like Tilray, Village Farms, GTI, and Trulieve are preparing for potential changes in the market.

Portfolio Pulse from Todd Harrison

May 19, 2024 | 7:24 pm

The Biden administration is moving to reschedule cannabis from Schedule I to Schedule III under the Controlled Substances Act, which could revolutionize the cannabis industry. This change will allow marijuana businesses to deduct operational expenses, potentially increasing cash flow by up to 500% for major players. Key stocks to watch include Johnson & Johnson, MindMed, Cybin Inc., Pfizer, Amgen, Teva Pharmaceutical Industries, AbbVie, and Jazz Pharmaceuticals.

Portfolio Pulse from Nicolás Jose Rodriguez

May 18, 2024 | 2:19 pm

President Joe Biden's announcement to reschedule marijuana from a Schedule I to a Schedule III drug under federal law is seen as a significant milestone for the cannabis industry. Shavo Odadjian, founder of 22Red, and other industry leaders like David Klein (Canopy Growth) and Kim Rivers (Trulieve) have expressed optimism about the move, which is expected to alleviate tax burdens and foster industry growth.

Portfolio Pulse from Javier Hasse

May 17, 2024 | 2:48 pm

The DEA's decision to reschedule cannabis from Schedule I to Schedule III could significantly impact the cannabis industry, including tax changes, new regulations, and potential insurance coverage. Companies like Trulieve could see substantial financial benefits, while pharmacies like Walgreens may eventually dispense cannabis pending FDA approval.

Portfolio Pulse from Nicolás Jose Rodriguez

May 16, 2024 | 8:41 pm

The article reports on the performance of various cannabis stocks on May 16, 2024, highlighting significant gainers and losers. Notable gainers include Flower One Holdings, Cannabix Technologies, and Greenlane Holdings, while MJ Holdings and Maple Leaf Green World were among the biggest losers.

Portfolio Pulse from Benzinga Insights

May 16, 2024 | 8:30 pm

President Joe Biden announced the rescheduling of cannabis from Schedule I to Schedule III, a move celebrated by cannabis companies and legalization advocates. This change is expected to improve cash flow for state-legal cannabis businesses and end the 280E tax code restrictions. Stocks of cannabis companies and related ETFs surged on the news.

Portfolio Pulse from Maureen Meehan

May 16, 2024 | 7:58 pm

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