Streetbeat News

TCNNF

Trulieve Cannabis Corp

Employees

9,000

Industry

Medicinal and Botanical Manufacturing

Open

7.21

Mkt cap

1.5B

Volume

276K

High

7.85

P/E Ratio

-10.92

52-wk high

14.50

Low

7.21

Div yield

N/A

52-wk low

4.75

Ross Gerber, Tesla investor and CEO of Gerber Kawasaki Wealth and Investment Management, is advocating for the DEA to reschedule cannabis, highlighting the absurdity of the delay. He remains bullish on cannabis stocks, citing strong sales and cash flow for companies like Green Thumb, TerrAscend, and Trulieve. A recent report supports his view, showing significant EBITDA upside for Green Thumb and a market cap increase for Trulieve. The potential repeal of IRS tax code 280E could further benefit these companies by reducing their effective tax rates.

Portfolio Pulse from Maureen Meehan

December 28, 2023 | 2:23 am

Trulieve Cannabis Corp. has secured a $25 million loan at an 8.31% interest rate for five years, using a Florida cultivation site as collateral. The funds will support general corporate purposes. Trulieve also opened two new medical dispensaries in Florida, expanding its presence in the state. The company offers a range of in-house and partner brand products exclusively at its Florida locations. The news suggests a positive outlook for Trulieve's growth and financial flexibility.

Portfolio Pulse from Jelena Martinovic

December 27, 2023 | 2:59 pm

Cannabis stocks experienced significant movements on December 26, 2023. Notable gainers included GrowLife, 4Front Ventures, and C21 Investments, with increases of 40%, 22.53%, and 22.16% respectively. Canopy Growth, Eastside Distilling, Cresco Labs, and Tilray Brands also saw gains on NASDAQ. Conversely, Affinor Growers and Cann Gr were among the biggest losers, with shares dropping 58.79% and 57.02%. Urban-gro, Psychemedics, and Neptune Wellness Solutions were among NASDAQ-listed companies that saw their stock prices decline.

Portfolio Pulse from Benzinga Insights

December 26, 2023 | 9:30 pm

The cannabis industry is experiencing significant leadership changes as we head into 2024. The Indigenous Cannabis Industry Association (ICIA) hosted a roundtable to discuss hemp and cannabis regulation. Emerald Holding, Inc. (NYSE:EEX) promoted Emilie Lewis to oversee marketing for Marijuana Business Daily. MediPharm Labs Corp. (OTCQB:MEDIF) announced the resignation of board member Miriam McDonald. Lowell Farms Inc. (OTCQX:LOWLF) reported the departure of board member Brian Shure. Trulieve Cannabis Corp. (OTCQX:TCNNF) named Wes Getman as its new CFO, and Organigram Holdings Inc. (NASDAQ:OGI) appointed Greg Guyatt as CFO. Innocan Pharma Corporation (OTCQB:INNPF) established a team for FDA submission for its LPT CBD platform.

Portfolio Pulse from Jelena Martinovic

December 22, 2023 | 9:31 pm

The marijuana stock market saw significant movement on December 22, 2023, with a number of stocks experiencing substantial gains, while a few faced notable losses. Neptune Wellness Solns (NEPT), Cara Therapeutics (CARA), Canopy Growth (CGC), Tilray Brands (TLRY), Corbus Pharmaceuticals (CRBP), Green Thumb Industries (GTBIF), Curaleaf Holdings (CURLF), Cresco Labs (CRLBF), Trulieve Cannabis (TCNNF), SNDL (SNDL), Cronos Group (CRON), GrowGeneration (GRWG), Aurora Cannabis (ACB), 22nd Century Group (XXII), and Village Farms Intl (VFF) were among the gainers. On the losing end, MPX International (MPXOF) saw a dramatic drop, while Psychemedics (PMD) and Urban-gro (UGRO) also closed down.

Portfolio Pulse from Benzinga Insights

December 22, 2023 | 9:30 pm

California AG Rob Bonta warns of legal risks if the state allows interstate cannabis sales. Pennsylvania advances bills to protect medical cannabis patients from DUI charges without proof of impairment. Ohio police departments maintain zero-tolerance hiring policies despite cannabis legalization. Florida's medical marijuana home cultivation campaign fails due to lack of funds, while Trulieve Cannabis Corp. supports a separate legalization initiative facing legal challenges. Recent polls show strong voter support for marijuana legalization in Florida.

Portfolio Pulse from Jelena Martinovic

December 22, 2023 | 3:44 pm

Florida Governor Ron DeSantis expressed skepticism about the legitimacy of medical marijuana use among Florida's 850,000 registered patients, suggesting some may use it as a pretext for recreational purposes. DeSantis, a Republican presidential candidate, has shown a shift from his previous stance, which was more supportive of cannabis use for medical purposes. His recent comments indicate a hardening stance against recreational marijuana legalization, expected to be on Florida's ballot in 2024. DeSantis's changing views have led to speculation that his position may be influenced by political motives. The state's largest cannabis operator, Trulieve (OTCQX: TCNNF), was accused by Florida's Attorney General of monopolizing the market.

Portfolio Pulse from Maureen Meehan

December 21, 2023 | 3:16 am

Marijuana stocks experienced significant movements on December 20, 2023. Canopy Growth (CGC) saw an extraordinary rise of 827.46%, while EVIO plummeted by 99%. Other notable gainers include MJ Holdings (MJNE) and Greenlane Holdings (GNLN), with increases of 46.97% and 11.65% respectively. Conversely, MPX International (MPXOF) and Cann Gr (CNGGF) faced sharp declines. The volatility in the sector is evident, with several companies experiencing double-digit percentage changes in their stock prices.

Portfolio Pulse from Benzinga Insights

December 20, 2023 | 9:30 pm

Florida is on the cusp of a significant shift in cannabis policy, potentially moving from medical to recreational marijuana use. A ballot initiative supported by Smart & Safe Florida and Trulieve (OTC:TCNNF) aims to legalize recreational cannabis for adults over 21. The Benzinga Cannabis Capital Conference in Hollywood, Florida, will be a pivotal event for stakeholders to discuss these changes. The state has already seen progress with a bill approved by the Florida Senate Criminal Justice Committee to legalize recreational marijuana and establish a regulatory framework.

Portfolio Pulse from Abbey Higginbotham

December 19, 2023 | 7:58 pm

The article reports on significant price movements in cannabis-related stocks on December 18, 2023. It lists the day's gainers and losers, with MPX International leading the gainers with a 2450.00% increase, and Cara Therapeutics experiencing the largest decline, down 47.98%. Notably, the article includes US-listed companies such as Greenlane Holdings, Urban-gro, cbdMD, Village Farms International, Corbus Pharmaceuticals, Cara Therapeutics, Canopy Growth, Neptune Wellness Solutions, Psychemedics, Mexco Energy, SNDL, and Tilray Brands.

Portfolio Pulse from Benzinga Insights

December 18, 2023 | 9:30 pm

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