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

Planet 13 Holdings Inc. is planning to acquire VidaCann, a company operating 26 dispensaries in Florida. The acquisition, expected to close by January 2024, is valued at approximately $49 million and includes a fully operational greenhouse cultivation facility and an advanced processing and analytical lab. The deal is expected to make Planet 13 a significant player in Florida's cannabis market, which is already substantial, surpassing $1.4 billion. The recent increase in stock prices, driven by the HHS rescheduling news, indicates a looming wave of consolidation in the cannabis market.

Portfolio Pulse from Nicolás Jose Rodriguez

September 18, 2023 | 4:01 pm

Florida medical marijuana market sees expansion with Trulieve Cannabis Corp. and Cresco Labs Inc. opening new retail locations. Other companies like Planet 13 and AYR Wellness are also positioning themselves for potential legalization of recreational marijuana in the state. In other news, High Tide Inc. opened a new Canna Cabana retail cannabis store in Ontario, Canada.

Portfolio Pulse from Jelena Martinovic

September 18, 2023 | 1:48 pm

On September 15, 2023, several cannabis stocks experienced significant price movements. Notable gainers included Choom Holdings, MJ Holdings, Body and Mind, Cansortium, and Aurora Cannabis. On the other hand, EVIO, MPX International, Maple Leaf Green World, Global Hemp Group, and Tetra Bio Pharma were among the biggest losers.

Portfolio Pulse from Benzinga Insights

September 15, 2023 | 9:30 pm

Florida's cannabis market is showing robust growth with a valuation of over $1.4 billion and a volume growth rate surpassing 30%. The potential for recreational legalization has driven stock prices upward. Planet 13 (OTC:PLNHF) plans to acquire VidaCann, a significant player in the state. Independent operators like Cansortium and Green Dragon are rising, while multi-state operators like Surterra, iAnthus, and Columbia Care (OTC:CCHWF) might consider divesting their Florida assets. Trulieve (OTC:TCNNF) remains the market leader, but Verano (OTC:VRNOF) and AYR (OTC:AYRWF) are experiencing significant growth.

Portfolio Pulse from Nicolás Jose Rodriguez

September 15, 2023 | 2:30 pm

The cannabis sector experienced a bullish sentiment on September 14, 2023, with several companies seeing significant gains in their share prices. EVIO (OTC:EVIO) led the gainers with a 4900.00% increase, followed by Global Hemp Group (OTC:GBHPF) with a 73.08% increase. However, some companies experienced losses, with Choom Holdings (OTC:CHOOF) leading the losers with a 99.00% decrease.

Portfolio Pulse from Benzinga Insights

September 14, 2023 | 9:30 pm

The article lists the cannabis stocks that gained and lost on September 13, 2023. Notable gainers include Choom Holdings (OTC:CHOOF), CNBX Pharmaceuticals (OTC:CNBX), and Trees (OTC:CANN). Significant losers include EVIO (OTC:EVIO), Item 9 Labs (OTC:INLB), and Target Group (OTC:CBDY).

Portfolio Pulse from Benzinga Insights

September 13, 2023 | 9:30 pm

Tilray Brands' CEO, Irwin D. Simon, is optimistic about the potential legalization of cannabis in the U.S. and plans to capitalize on it by creating beer infused with cannabis. Tilray recently acquired eight beer and beverage brands from Anheuser-Busch, making it the 5th largest craft beer business in the U.S. The recent recommendation from the Dept. of Health and Human Services to reclassify cannabis as a Schedule III drug is seen as a step closer to federal cannabis legalization.

Portfolio Pulse from Maureen Meehan

September 13, 2023 | 7:30 pm

The article lists the cannabis stocks that gained and lost on September 12, 2023. Notable gainers include James E. Wagner (OTC:JWCAF), MPX International (OTC:MPXOF), and Affinor Growers (OTC:RSSFF). Significant losers include Tetra Bio Pharma (OTC:TBPMF), Global Hemp Group (OTC:GBHPF), and Rocky Mountain High (OTC:RMHB).

Portfolio Pulse from Benzinga Insights

September 12, 2023 | 9:30 pm

Trulieve Cannabis Corp. is suing two former employees and five other cannabis businesses in Arizona for alleged 'kickback schemes' that granted them advantageous shelf space at the company's outlets. The two ex-employees, Randall Uberecken and Daniel Hirchak, allegedly obtained nearly $1 million and established separate companies to channel the kickback funds. Both were hired by Harvest Health & Recreation, which Trulieve acquired in 2021. Trulieve is also involved in a separate lawsuit against Harvest of Ohio and Harvest Grows over debt payoff negotiations.

Portfolio Pulse from Jelena Martinovic

September 12, 2023 | 7:16 pm

Cresco Labs Inc. is opening a second Sunnyside medical cannabis store in Jacksonville, Florida, bringing its total number of dispensaries in the state to 33 and 70 nationwide. The new store will offer a diverse range of cannabis products, positioning Cresco as a major competitor to Trulieve Cannabis Corp, which has over 120 dispensaries in Florida. Other companies, including Planet 13 and AYR Wellness, Inc., are also preparing for potential legalization of recreational marijuana in Florida.

Portfolio Pulse from Jelena Martinovic

September 12, 2023 | 1:11 pm

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