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

YourWay Cannabis Brands Inc. has agreed to sell Labtronix, Inc. for $3 million, structured as a secured note. The sale will relieve YourWay of all lawsuits, liabilities, and tax liabilities related to Labtronix. Shareholder Carl Saling III, holding 11% of YourWay's shares, has nominated six directors to the board, expressing concern over the company's direction and the asset sale's terms. Saling aims to halt the sale, complete an audit, and restore trading status. Trulieve Cannabis Corp. previously filed a complaint against YourWay and Labtronix for alleged kickback schemes.

Portfolio Pulse from Jelena Martinovic

December 01, 2023 | 6:46 pm

A University of North Florida poll indicates strong support for a marijuana legalization initiative in Florida, with 70% of voters in favor. The initiative, financially backed by Trulieve Cannabis Corp. (OTCQX: TCNNF) with nearly $40 million, faces legal challenges from Attorney General Ashley Moody and opposition from Gov. Ron DeSantis. Despite this, the initiative has collected enough signatures for a 2024 ballot placement. Florida's legalization could generate significant sales tax revenue, estimated between $195.6 million and $431.3 million annually.

Portfolio Pulse from Maureen Meehan

November 30, 2023 | 8:57 pm

SLANG Worldwide Inc. (OTCQB:SLGWF) reported increased revenue and gross profit for Q3 2023, with total revenue of $6.7 million and gross profit of $4.8 million. The company's net loss decreased, and all operating units were cash flow positive. SLANG has a strategic partnership with Trulieve Cannabis Corp. (OTCQX:TCNNF), which has been beneficial, including the launch of SLANG's vape brand in West Virginia. SLANG's OTC shares were up 3.77% at $0.028 per share.

Portfolio Pulse from Jelena Martinovic

November 28, 2023 | 3:36 pm

Major cannabis multistate operators (MSOs) like Trulieve Cannabis Corp (TCNNF) and Cresco Labs Inc (CRLBF) are exiting less profitable state markets to strengthen their financial positions in anticipation of federal reforms and increased investor interest. Cresco Labs reported $191 million in Q3 revenue after leaving Arizona and Maryland, while Trulieve divested from California and ceased Massachusetts operations. The industry is hopeful for legislative changes, such as cannabis rescheduling and the SAFER Banking Act, despite political uncertainties.

Portfolio Pulse from Patricio Liddle

November 23, 2023 | 1:43 am

Laura Bruneau is suing Trulieve Cannabis Corp. (OTCQX:TCNNF) for wrongful death and negligence after her daughter, Lorna McMurrey, died from occupational asthma caused by cannabis dust at a Trulieve facility. This is the first such case in U.S. cannabis history. The lawsuit alleges negligence in the HVAC system design and lack of safety policies. The CDC confirmed the presence of cannabis dust and inadequate dust collection systems. McMurrey's family seeks accountability and unspecified damages, while Massachusetts DPH is developing safety guidance for cannabis workers.

Portfolio Pulse from Nina Zdinjak

November 22, 2023 | 5:35 pm

Zuanic & Associates' report predicts significant EBITDA growth and market cap increases for cannabis companies in key U.S. states moving towards legal recreational cannabis sales by 2025. The report highlights potential EBITDA upside for market leaders like Curaleaf, Green Thumb, Verano, and Trulieve, and substantial market cap gains for emerging players such as Cannabist and Jushi Holdings. Established operators like Acreage Holdings, Ayr Wellness, Cresco Labs, Ascend Wellness, and Green Thumb are also expected to see market cap increases. Goodness Growth Holdings is noted for its potential in Minnesota. A repeal of Tax Rule 280E could further benefit the sector by reducing effective tax rates.

Portfolio Pulse from Nicolás Jose Rodriguez

November 21, 2023 | 11:57 pm

Marijuana stocks experienced significant movement on Tuesday, with EVIO and Affinor Growers leading the gains. EVIO's shares soared by 9900.00%, while Affinor Growers' shares increased by 145.22%. Other notable gainers included Item 9 Labs, Indiva, and Body and Mind. Conversely, 1933 Industries led the losers with a 33.64% decline, followed by Rocky Mountain High and RIV Capital. The article also mentions several other companies in both the gainers and losers categories, reflecting a volatile day for cannabis-related stocks.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 9:30 pm

A report from Maine's cannabis regulator found that half of the state's medical marijuana is tainted with contaminants. The American Medical Association calls for more education on cannabis risks to children and pregnant women. Georgia expands its medical cannabis industry with four new licenses, including FFD GA Holdings LLC, TheraTrue Georgia, LLC, Natures GA, LLC, and Treevana Remedy Inc. Over half of the US population lives in states where cannabis is legal. The DOJ argues for a firearms ban for marijuana users, citing historical firearm regulations.

Portfolio Pulse from Jelena Martinovic

November 20, 2023 | 8:33 pm

The CDC confirmed the first U.S. occupational asthma death linked to cannabis production at a Trulieve facility. Lorna L. McMurrey died after exposure to cannabis dust while working. Trulieve disputed some details, but the CDC report highlights the need for better prevention, including workplace exposure control and medical surveillance.

Portfolio Pulse from Nina Zdinjak

November 20, 2023 | 5:53 pm

On November 17, 2023, several marijuana stocks experienced significant price movements. Notable gainers included EVIO, Global Hemp Group, and iAnthus Capital Holdings, with increases of 100%, 91.11%, and 49.25% respectively. Other gainers were Body and Mind, Item 9 Labs, CordovaCann, SOL Global Investments, Corbus Pharmaceuticals, GrowGeneration, and various others. On the losing side, 1933 Industries led the declines with a 37.93% drop, followed by Zoned Properties, 22nd Century Group, Charlottes Web Holdings, MedMen Enterprises, Greenlane Holdings, Khiron Life Sciences, Eastside Distilling, Cansortium, and Curaleaf Holdings.

Portfolio Pulse from Benzinga Insights

November 17, 2023 | 9:30 pm

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