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

Smart and Safe Florida has launched a campaign with four ads advocating for the legalization of recreational marijuana in Florida, known as Amendment 3, set for a vote in November 2024. The campaign, supported by major cannabis companies including Trulieve, Verano Holdings, Curaleaf Holdings, AYR Wellness, Cresco Labs, Green Thumb Industries, and INSA, has spent over $5 million on ads. Trulieve alone has contributed over $40 million towards the initiative. The ads emphasize the benefits of a regulated market, including safety, revenue for schools, and freedom from outdated laws.

Portfolio Pulse from Maureen Meehan

May 14, 2024 | 9:21 pm

Cannabis analysts may revise 2024 projections as 10 MSOs beat EBITDA estimates by $37M in Q1. Despite this, full-year estimates only increased by $14M, showing a lag in analyst response. Revenue performance varied, with some companies missing estimates. Despite EBITDA beats, 2024 estimates were cut for six companies. TerrAscend, Ascend, and Green Thumb had significant beats, while MariMed had the largest miss. Margin projections for the year have been adjusted down slightly.

Portfolio Pulse from Nicolás Jose Rodriguez

May 14, 2024 | 1:16 pm

Florida's cannabis market is expanding with new dispensaries from Green Thumb Industries, Verano Holdings, and Trulieve Cannabis. Other states and Canada also see growth in cannabis retail, with new stores and expansions from various companies including High Tide Inc. and Right on Brands.

Portfolio Pulse from Jelena Martinovic

May 13, 2024 | 3:18 pm

Beacon Securities and Needham reports highlight Q1 2024 financials for Curaleaf and Trulieve, respectively, with Curaleaf posting $339M in revenue and Trulieve $297.6M. Both companies are navigating regulatory changes positively, with Curaleaf focusing on strategic financial management and Trulieve on operational strengths and market opportunities. Legislative changes are expected to further benefit both companies.

Portfolio Pulse from Nicolás Jose Rodriguez

May 10, 2024 | 10:42 pm

Roth MKM analyst Scott Fortune has maintained a Buy rating on Trulieve Cannabis (OTC:TCNNF) and increased the price target from $16 to $19. This adjustment reflects a positive outlook on the company's future performance.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 2:18 pm

Needham analyst Matt McGinley maintains a Buy rating on Trulieve Cannabis (OTC:TCNNF) and raises the price target from $13.5 to $14.5.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 10:05 am

Cannabis stocks experienced significant movements on May 9, 2024, with notable gainers including Global Hemp Group, MJ Holdings, and SOL Global Investments, among others. Conversely, Auxly Cannabis Group led the losers, followed by Elixinol Wellness and CordovaCann. The movements reflect the volatile nature of the cannabis market, with companies like Canopy Growth, Cronos Group, and Aurora Cannabis also seeing gains.

Portfolio Pulse from Benzinga Insights

May 09, 2024 | 8:30 pm

Trulieve Cannabis Corp. reported a Q1 revenue of $298 million, a 4% increase both sequentially and year-over-year, with a gross profit of $174 million. The company's net loss narrowed to $23 million, showing significant improvement in financial performance. Trulieve, a major backer of Florida's recreational cannabis ballot initiative, along with other top cannabis operators, is positioned for growth with the upcoming vote in November 2024.

Portfolio Pulse from Jelena Martinovic

May 09, 2024 | 12:49 pm

A report from Viridian Capital Advisors predicts a surge in M&A activity in the U.S. cannabis industry, particularly benefiting Tier 1 multi-state operators (MSOs) like Curaleaf Holdings, Green Thumb Industries, Trulieve Cannabis, and Cresco Labs. The report highlights a widening valuation gap between Tier 1 MSOs and smaller entities, alongside a differential in capital costs that favors larger MSOs. This environment is expected to lead to a period of consolidation, with equity increasingly used over cash for acquisitions due to the anticipation of Schedule 3 and sluggish banking reforms.

Portfolio Pulse from Nicolás Jose Rodriguez

May 06, 2024 | 11:42 pm

Cannabis stocks fell after reports emerged that the DEA Administrator Anne Milgram did not sign the order to reclassify cannabis as a Schedule III drug, contrary to expectations. This decision has halted the momentum of the Biden Administration's plan to acknowledge cannabis's medical benefits and its lower potential for abuse compared to Schedule I substances.

Portfolio Pulse from Adam Eckert

May 06, 2024 | 9:09 pm

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