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

The Georgia Access to Medical Cannabis Commission (GMCC) is considering legal action in response to warning letters from the DEA cautioning pharmacies against dispensing THC. The DEA's warnings have raised concerns about access to medical marijuana (MMJ) in Georgia. Despite this, the GMCC remains committed to implementing the Hope Act and ensuring patient access to MMJ. Over 120 pharmacies have applied to participate in Georgia's program. Legal actions, if any, would be coordinated with the state attorney general's office. A budget rider currently prevents the DOJ from interfering with state MMJ laws. The situation highlights the need for federal cannabis policy updates. Botanical Sciences LLC and Trulieve Cannabis Corp. (OTCQX:TCNNF) are licensed producers in Georgia.

Portfolio Pulse from Joana Scopel

December 14, 2023 | 9:06 pm

MGO released its annual 'Cannabis 50' list, recognizing influential companies, organizations, and individuals in the cannabis and hemp sectors over the past five years. The list highlights the industry's progress and optimism for rescheduling cannabis. It includes companies like Charlotte’s Web Holdings, Cresco Labs, Curaleaf Holdings, and others. Athletes and entertainers are noted for mainstreaming the industry, and the list also acknowledges entities contributing to social progress and legislative reform.

Portfolio Pulse from Javier Hasse

December 14, 2023 | 5:55 pm

On December 13, 2023, several cannabis-related stocks experienced significant price movements. Notable gainers included GrowLife, Cann Gr, and 1933 Industries, with GrowLife leading the pack with a 378.57% increase. Major US-listed companies that saw gains were GrowGeneration, Tilray Brands, Innovative Industrial Properties, Scotts Miracle-Gro, Corbus Pharmaceuticals, and SNDL. Conversely, notable losers included AusCann Group Holdings, Rhinomed, and CLS Holdings USA, with AusCann Group Holdings dropping by 46.67%. Canopy Growth, cbdMD, Genetic Technologies, and Mexco Energy were among the US-listed companies that faced declines.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 9:30 pm

The Alabama Medical Cannabis Commission awarded five integrated facility licenses for medical cannabis to Trulieve Alabama Inc., Sustainable Alabama, LLC; Wagon Trail Med-Serv, LLC; Flowerwood Medical Cannabis, LLC and Specialty Medical Products of Alabama. Trulieve Alabama Inc. is part of Trulieve Cannabis Corp. (OTCQX:TCNNF). The licenses allow for vertical integration and were selected out of 33 applicants. Licensees have 14 days to pay a $50,000 fee, with licenses to be issued on Jan. 9. Legal challenges have been a hurdle, with Verano Holdings Corp. (OTCQX:VRNOF) previously awarded a license in June but then left without it in August. New lawsuits have emerged, but a temporary restraining order request by Alabama Always was denied.

Portfolio Pulse from Jelena Martinovic

December 13, 2023 | 5:22 pm

On December 12, 2023, several cannabis stocks experienced significant price movements. Mojave Brands, GrowLife, and Affinor Growers were among the top gainers, with Mojave Brands closing up over 101 million percent. Conversely, Choom Holdings and EVIO were among the top losers, both closing down 99%. Notable US-listed companies that saw price changes include Urban-gro, Corbus Pharmaceuticals, Cara Therapeutics, GrowGeneration, Canopy Growth, OrganiGram Holdings, Greenlane Holdings, and Aurora Cannabis.

Portfolio Pulse from Benzinga Insights

December 12, 2023 | 9:30 pm

The Viridian Credit Tracker model shows that credit quality in the cannabis industry has declined due to increased leverage from debt financing and rising interest rates. Trulieve (TCNNF) and TerrAscend (TRSSF) have improved their credit rankings, while MariMed (MRMD) and Vext (VEXTF) have seen declines. The model assesses credit quality based on liquidity, leverage, profitability, and size, and tracks capital raise and M&A activity in the cannabis sector. Companies that manage cash flow and credit quality effectively are expected to benefit from future market upswings.

Portfolio Pulse from Viridian Capital Advisors

December 11, 2023 | 7:02 pm

The DEA has issued warnings to pharmacies in Georgia that dispensing medical marijuana, specifically THC oil, violates federal law. Despite the Georgia Board of Pharmacy's recent allowance for independent pharmacies to dispense THC oils, the DEA's memo clarifies that marijuana and THC are Schedule 1 controlled substances and cannot be lawfully handled by DEA-registered pharmacies. SAM, an organization opposing marijuana legalization, praised the DEA's stance. Meanwhile, the federal government's position on marijuana may be shifting, as Health and Human Services recommended reclassifying marijuana to a Schedule III Substance. Four companies recently received provisional licenses to produce low-THC oil in Georgia, joining the two existing licensed producers, including Trulieve Cannabis Corp (OTCQX:TCNNF).

Portfolio Pulse from Nina Zdinjak

December 07, 2023 | 2:20 pm

YourWay Cannabis Brands Inc. has terminated the agreement to sell Labtronix, Inc. after a surprise fire department inspection led to a cessation of Labtronix's operations. Shareholders were against the $3M sale, considering it below fair market value. A special meeting to vote on the sale was canceled. Carl Saling III, a significant shareholder, opposed the sale and nominated new directors. Trulieve Cannabis Corp. filed a complaint against YourWay Cannabis and others for alleged kickback schemes.

Portfolio Pulse from Jelena Martinovic

December 06, 2023 | 1:37 pm

Zuanic & Associates initiated coverage of New Lake Capital Partners (NLCP) with an Overweight rating, citing its significant growth in net real estate assets from $124 million in 2020 to $375 million in Q3 2023. NLCP, a sale-leaseback stock in the cannabis sector, faces a stagnant AFFO per share but has bought back over $9 million in stock. It offers a 12% dividend yield and trades at a 30% discount to NAV, compared to peers like IIPR, which trades at a 22% premium. NLCP's portfolio includes stakes in Curaleaf, Cresco, Trulieve, and others. The company has low leverage and is well-positioned for growth, with expected federal reforms potentially benefiting the sector.

Portfolio Pulse from Nicolás Jose Rodriguez

December 06, 2023 | 12:37 pm

The Viridian Chart of the Week analyzes the potential impact of a DEA announcement on the top 15 Multi-State Operators (MSOs) in the cannabis industry. The MSOS ETF has seen a significant increase since the HHS rescheduling announcement but has dropped from its peak. Stocks like SHWZ and CBSTF have declined since the HHS announcement, suggesting less downside risk from negative DEA news. Conversely, stocks like AYR Wellness have seen substantial gains, indicating higher risk. The chart also considers the upside potential if the DEA ratifies Schedule 3, with stocks like TCNNF and Cannabist potentially seeing significant gains. Viridian suggests that gains could be even higher, referencing past price levels after the SAFE Act and Schumer/Booker proposal.

Portfolio Pulse from Viridian Capital Advisors

December 04, 2023 | 5:30 pm

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