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Trulieve Cannabis Corp. (TCNNF)

Other OTC - Other OTC Delayed Price. Currency in USD
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12.99+0.07 (+0.54%)
At close: 03:59PM EDT
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  • M
    Mike me
    Even if the guidance is lowered by 5%, it still a 49% growth year over year. Find me a company that can do that.
  • J
    JJinvest
    The glaring problem here and with all cannabis companies is IRC Section 280(e). Looking at the most 2nd quarter results, TCNNF's effective tax rate is 216% of book operating income. TCNNF's tax provision was 44,769,000 and it's profit before taxes was 20,748,000. No business can last long when the government is taking twice your book profit. Of course, the only solution to that is federal legislation either by de-scheduling or moving to another category that is not subject to Section 280(e) such as Schedule III. Passing SAFE will only be a short-term help with the share price which many of us are desperate to see. I think if would start a process that would lead to de-scheduling. However, the long-term solution is de-scheduling or changing to a drug classification level does not invoke Section 280(e). This section of the code was originally enacted in response to a drug trafficker in 1982 asserting the right to deduct all business expenses available under the law at the time. In general, IRC Section 280(e) limits the deductions of cannabis based business to the cost of goods sold. Clearly this provision was not enacted to apply to situations where Cannabis (recreational or medical) is legal under state laws.
  • M
    M3Daddy
    A few takeaways from today's conference call.
    1) Macro economic issues are affecting all MSOs, but Trulieve is adapting well.
    2) Top line revenue growth for 2H 2022 may be flat compared to 1H, but management expects strong operating cash flow through the end of the year. They predict positive free cash flow in 2023.
    3) Customer traffic increased 6% in Q2, but "basket prices" decreased 3% as more customers opt for value products. Value products are no less profitable to Trulieve than high-end products.
    4) The company is closing operations in Nevada and California (1 store) and focusing on retail sales from vertically integrated production in "high conviction markets."
    5) Management is focused on profitability, not just growth.
    6) They expect M&A opportunities from distressed assets soon. They will analyze these carefully.
    7) Kim is optimistic about Georgia, and the company is planning for operations there.
    8) The new 750k SF production facility in Florida is partially functional now and expected to be fully functional later this year. It will be the largest C production facility in the USA and will allow them to retire other less productive facilities.
  • D
    D
    Good earnings picture is improving all we need is time and to not be taxed excessively
    Bullish
  • W
    Willy
    This stock has held up even though they guided lower, which shows we have probably hit the bottom and everybody who wanted out has left the building. Now we can build towards the future and higher stock prices as the federal government finally passes some legislation. Also departing California was a good move since they have high taxes and are over-regulated to where no major company can make it profitable with the current situation. BTW Tilray had some interesting comments about this sector since they can't be in the US market, the CEO says once this get federal legalization the food and beverage industry will make massive investments and want in on this space, and obviously tobacco as well. For those that sold and got out for good, this is like selling tobacco 75 years ago. It only went on the be one of the best investments of all time. Also since we are on the OTC market, when these companies get uplisted I expect a doubling on that move alone. Yes, it is gloomy right now, but the sun will come back out, and these stocks will shine again soon enough.
  • b
    brian
    Adjusted EBITDA grew 17% year over year to $111.0 million*, or 35% of revenue in the second quarter compared to Adjusted EBITDA of $105.5 million*, or 33% of revenue in the first quarter of 2022.
    Bullish
  • J
    John
    I think the only thing this earnings report tells me ( other then is company is a beast), is that while all stock prices are low, Trulieve probably needs to make an acquisition in NJ,NY. to keep revenues, and growth as high as possible. Any thoughts?
  • N
    Norma
    Green EOD
  • N
    Norma
    my bud tender in cape coral says biz has been phenomenal
  • J
    JOSEPH
    If you are a day trader you can make money on this stock, but if you are long you will definitely make money as the industry grows and Trulieve continues to expand. Not every store can be a home run, have any of you ever gotten a business off the ground and in 6 years obtained over a billion in revs? Give me a break! When 2024 ballot initiative in Florida passes for recreational use revs will easily double just in Florida. Was Amazon profitable from the beginning? NO! Be patient or sell, no one is forcing you to hold.
  • M
    Mike me
    If the government didn’t had both feet in the same shoe, this stock would easily be at $50+.
  • N
    New
    Is greenthumb a stronger company than trulieve?
  • M
    Me
    TCNNF getting into the Florida 2024 recreational voter amendment.. New Florida Marijuana Legalization Initiative Filed For 2024 Ballot, With Backing Of State’s Largest Medical Cannabis Company
  • M
    M3Daddy
    Trulieve is sponsoring a new recreational initiative in Florida. See the MM article today (Yahoo keeps deleting the link).
  • j
    jj
    $VRNOF conversation
    $MSOS, $AYRWF, $CCHWF, $CRLBF, $CURLF, $GTBIF, $JUSHF, $GRWG, $TCNNF, $TRSSF, $VRNOF.
    25 days ago I posted the following:
    “IMO From a technical analysis basis ALL MSO stocks are in BUY status”
    As of Friday’s (8/5/22) close the entire MSO group is again in BUY status.
    I think that a solid short term bottom is in. The stocks are reacting positively to the news from the Feds, good news from GTBIF, bad news in a couple of cases has not cratered the group, e.g. GRWG bad earnings.
    announcement, even VRNOF it’s “restatement” is on the mend. I think the longs can breath a small sigh of relief as the selling pressure seems to be abating. The upcoming earning reports I think will be well received.
    Bullish
  • v
    vernon
    The manipulation in the last 10 minutes was mind boggling only confirming the corruption on the OTC.
  • m
    mario
    Never liked the Harvest acquisition. We’d have higher revenue and sitting at $30. Now. Look at the chart, Harvest was a mistake .
  • J
    John
    Somebody is still dumping at the very last trade of every day..,
    He must be a genius
  • A
    Ada
    Just heard that TCNNF got alerted at (http://market-engross.club). I hope it pushes us higher!
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