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

Cannabis stocks and ETFs saw a surge in trading following the release of HHS documents recommending the DEA to reschedule cannabis from Schedule I to Schedule III. The documents and statements from HHS officials suggest cannabis has accepted medical use and a lower potential for abuse, fueling investor optimism for potential regulatory changes that could benefit the industry.

Portfolio Pulse from Jelena Martinovic

January 16, 2024 | 5:56 pm

A report by senior analyst Pablo Zuanic discusses the potential benefits of rescheduling cannabis to Schedule III, including improved cash flow and creditworthiness for U.S. cannabis companies, and easier banking access. The report also considers the impact of federal legalization of medical cannabis and the legal complexities involved. It highlights the uncertainty in the cannabis sector due to the upcoming election and the possibility of a Trump reelection, which could cap the upside for cannabis stocks. The biggest beneficiaries of the rescheduling would be StateHouse, AYR, Jushi, and The Cannabist, with Curaleaf, Trulieve, and Green Thumb paying the most taxes relative to their sales.

Portfolio Pulse from Nicolás Jose Rodriguez

January 16, 2024 | 3:19 pm

Cannabis stocks experienced significant movements on January 12, 2024. Khiron Life Sciences led the gainers with a 152.73% increase, while MedMen Enterprises saw a dramatic 95.71% drop. Other notable gainers include Global Compliance and CordovaCann. Among the losers, AusCann Group Holdings also faced a steep decline. The volatility in these stocks reflects ongoing developments in the cannabis industry.

Portfolio Pulse from Benzinga Insights

January 12, 2024 | 9:30 pm

Connecticut, Maryland, and Maine have seen booming cannabis markets, with record sales in December 2023 for Connecticut ($27.5 million) and significant annual sales for Maryland ($700 million) and Maine ($200 million). Companies like Ascend Wellness Holdings, iAnthus Capital Holdings, and others are experiencing revenue growth. Maryland's market is particularly strong post-legalization, with $270 million in Q3 2023 sales. Investors are advised to watch for market saturation in Maine and potential challenges in Connecticut, such as limited testing lab capacity.

Portfolio Pulse from Nicolás Jose Rodriguez

January 11, 2024 | 8:47 pm

Cannabis stocks experienced significant movements on January 10, 2024. Choom Holdings, EVIO, Global Hemp Group, Global Compliance, Cannabix Technologies, Body and Mind, Pharmadrug, Neptune Wellness Solutions, and Trees saw gains, with Choom Holdings leading with a 9900% increase. Conversely, Acacia Diversified Holdings led the losers with a 99% decline, followed by significant losses in Cann Gr, Khiron Life Sciences, CordovaCann, Elixinol Wellness, 1933 Industries, Item 9 Labs, Affinor Growers, 4Front Ventures, C21 Investments, Heritage Cannabis Holding, Cresco Labs, Leafbuyer Techs, Trulieve Cannabis, Eastside Distilling, Curaleaf Holdings, Cara Therapeutics, Indiva, Auxly Cannabis Group, RIV Capital, Tilray Brands, Greenlane Holdings, iAnthus Capital Holdings, Psychemedics, SNDL, and SOL Global Investments.

Portfolio Pulse from Benzinga Insights

January 10, 2024 | 9:30 pm

Viridian Capital Advisors highlighted five attractively priced cannabis stocks with solid credit rankings and potential for growth. The MSOS ETF saw a significant rise, attributed to DEA's consideration of rescheduling cannabis. Viridian is cautious about the timing of regulatory changes before the election. The selected stocks are Marimed (MRMD), Trulieve (TCNNF), Cresco (CRLBF), Verano (VRNOF), and Planet 13 (PLNH), chosen for their low EV/EBITDA multiples and resilience. Grown Rogue (GRIN), Glass House Brands (GLASF), and Curaleaf (CURLF) were considered overvalued, while Green Thumb (GTBIF) and TerrAscend (TSNDF) were excluded from the top picks.

Portfolio Pulse from Viridian Capital Advisors

January 08, 2024 | 4:57 pm

Florida State Rep. Ralph Massullo proposed a bill to cap THC levels in cannabis products, potentially affecting the cannabis legalization initiative funded by Trulieve Cannabis Corp. (TCNNF). The bill limits THC to 10% in smokable products and 60% in other forms, except edibles, which would have a 200mg cap per product and 10mg per serving. The legalization amendment, supported by Smart & Safe Florida and funded by Trulieve, aims to allow non-medical use of marijuana for adults over 21. Attorney General Ashley Moody opposes the initiative, citing its failure to acknowledge federal illegality. The state's highest court will decide by April 1 if the amendment can be voted on, requiring a 60% majority to pass. Over one million Florida voters have signed petitions supporting the amendment.

Portfolio Pulse from Maureen Meehan

January 05, 2024 | 9:30 pm

Marijuana stocks experienced significant movement on a recent Friday, with Choom Holdings leading the gainers with a 9900.00% increase, while EVIO was the top loser, dropping 98.00%. Other notable gainers include Affinor Growers, Blueberries Medical, and Indiva. On the losing side, Global Hemp Group and Pharmadrug also saw notable declines. The volatility in these stocks reflects the dynamic nature of the cannabis industry.

Portfolio Pulse from Benzinga Insights

January 05, 2024 | 9:30 pm

New York's first licensed adult-use cannabis dispensary, Housing Works Cannabis, celebrated a successful first year with $24 million in sales. Trulieve announced the opening of two new dispensaries in Florida, while Ascend Wellness Holdings opened a new outlet in Ohio. High Tide opened three new Canna Cabana stores in Canada. Cannabis stocks are believed to be poised for growth, with Benzinga PotProfits highlighting significant gains in stocks like GTBIF, TCNNF, and VFF.

Portfolio Pulse from Jelena Martinovic

December 29, 2023 | 6:28 pm

The most-read cannabis stories of 2023 on Benzinga included a range of topics from the benefits of cannabis for aging brains, political shifts towards legalization, and high-profile celebrity endorsements. Key highlights include a study suggesting cannabis does not negatively impact cognition in older adults, Elon Musk's comments on psychoactive drugs, a man ditching morphine for marijuana to alleviate arthritis, Aleafia Health's expansion into Europe's medical cannabis market, a pathogen threatening California's cannabis crops, Florida's telehealth renewals for medical marijuana, GOP senators admitting legalization impacts drug cartels, Tilray's acquisition of beer brands from Anheuser-Busch, Snoop Dogg's anti-Trump TikTok video, Georgia's medical cannabis sales in pharmacies, and Ohio's GOP-led Senate approving expanded marijuana legislation.

Portfolio Pulse from Nina Zdinjak

December 28, 2023 | 2:54 pm

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