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

On August 21, 2024, several cannabis stocks experienced significant price movements. Notable gainers included Eastside Distilling (NASDAQ:EAST) with a 31.87% increase and Corbus Pharmaceuticals (NASDAQ:CRBP) with a 7.45% rise. Among the losers, Greenlane Holdings (NASDAQ:GNLN) saw a 12.31% decline and Urban-gro (NASDAQ:UGRO) dropped by 11.56%.

Portfolio Pulse from Benzinga Insights

August 21, 2024 | 8:30 pm

Ohio's marijuana market has seen a significant surge in sales since the legalization of recreational cannabis on August 6, 2023. In the first 12 days, sales reached $38.5 million, with a notable increase in daily sales averages. Multi-state operators like Verano Holdings, Trulieve Cannabis, Curaleaf Holdings, Acreage Holdings, and Green Thumb Industries are benefiting from this growth.

Portfolio Pulse from Maureen Meehan

August 21, 2024 | 6:31 pm

The battle over Florida's cannabis legalization initiative, Amendment 3, is heating up. The pro-cannabis campaign, led by Smart and Safe Florida, has raised $71.8 million, largely from Trulieve, while opposition PACs have raised $14.5 million, bolstered by Ken Griffin's $12 million donation. Polls show mixed support for the amendment.

Portfolio Pulse from Maureen Meehan

August 21, 2024 | 2:23 pm

California cannabis companies are shifting to the less regulated hemp market due to high taxes and strict regulations in the cannabis sector. Companies like Green Bee Botanicals and Sunstone Winery have rebranded their products to hemp, benefiting from lower taxes and broader market reach. Larger companies like Glass House Brands and Curaleaf Holdings are also considering or have entered the hemp market. The California Senate recently halted a bill that would impose stricter THC limits, highlighting the ongoing tension between the cannabis and hemp industries.

Portfolio Pulse from Rolando García

August 20, 2024 | 3:02 pm

Cannabis companies are expanding their retail presence in Florida and Ohio, with Curaleaf, Planet 13, and Trulieve opening new dispensaries in Florida, and Ascend Wellness and Ethos Cannabis expanding in Ohio. High Tide celebrates a milestone with its Cabana Club loyalty program in Canada.

Portfolio Pulse from Jelena Martinovic

August 19, 2024 | 7:40 pm

Two recent polls show differing levels of support for Florida's Amendment 3, which aims to legalize cannabis. The FAU poll shows 56% support, while the USA Today poll shows 63% support. Trulieve's spokesperson criticized the FAU poll for not using the exact ballot language. Demographic differences in support were noted, with younger voters more likely to back the amendment.

Portfolio Pulse from Maureen Meehan

August 16, 2024 | 2:18 pm

Florida Governor Ron DeSantis criticized Trulieve Cannabis Corp (OTC:TCNNF) for alleged Canadian ties in his opposition to Florida's cannabis legalization measure, Amendment 3. Trulieve clarified that it is a Florida-based company, with its only Canadian connection being a holding company for stock trading purposes.

Portfolio Pulse from Maureen Meehan

August 14, 2024 | 10:26 pm

U.S. multi-state operators (MSOs) in the cannabis industry are showing improved cost efficiency in Q2 2024, with six out of the top eight MSOs reducing their cost of goods sold (COGS) as a percentage of revenue. Companies like Green Thumb Industries, Curaleaf, Trulieve, Verano, Cresco Labs, and Ascend Wellness have managed to lower their COGS and selling, general, and administrative (SG&A) expenses, indicating better operational efficiency. However, AYR and TerrAscend faced increased COGS, highlighting operational challenges.

Portfolio Pulse from Rolando García

August 12, 2024 | 11:35 pm

On August 8, 2024, several cannabis-related stocks experienced significant price movements. Notable gainers included CordovaCann, iAnthus Capital Holdings, Psychemedics, Aurora Cannabis, and Corbus Pharmaceuticals. Conversely, Greenlane Holdings and SOL Global Investments were among the notable losers.

Portfolio Pulse from Benzinga Insights

August 08, 2024 | 8:30 pm

The article discusses key trends in the cannabis market across various states ahead of the second quarter earnings season. It highlights the performance of major players like Trulieve, Verano, Curaleaf, Green Thumb, Cresco, Ascend, and Columbia Care in states such as Florida, Illinois, Pennsylvania, Arizona, Maryland, New Jersey, Ohio, and Michigan. Federal reform expectations, IRS news on 280E, refinancing potential, and M&A strategies are identified as main drivers of sentiment.

Portfolio Pulse from Nicolás Jose Rodriguez

August 07, 2024 | 1:46 am

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