TCNNF - Trulieve Cannabis Corp.

Other OTC - Other OTC Delayed Price. Currency in USD
9.56
+0.22 (+2.33%)
At close: 3:57PM EDT
Stock chart is not supported by your current browser
Previous Close9.35
Open9.25
Bid0.00 x 0
Ask0.00 x 0
Day's Range9.19 - 9.72
52 Week Range6.68 - 16.35
Volume179,871
Avg. Volume251,002
Market Cap1.054B
Beta (3Y Monthly)N/A
PE Ratio (TTM)10.23
EPS (TTM)0.94
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est21.46
Trade prices are not sourced from all markets
  • Trulieve Announces Leadership Realignment to Progress Corporate Strategy
    CNW Group

    Trulieve Announces Leadership Realignment to Progress Corporate Strategy

    TORONTO , Oct. 11, 2019 /CNW/ - Trulieve Cannabis Corp. ("Trulieve" or the "Company") (TRUL.CN) (TCNNF), a leading and top-performing cannabis company in the United States , today announced the Company has begun a realignment and expansion process of its leadership team in preparation for national expansion, and accepted the resignation of its Chief Operating Officer Kevin Darmody , effective October 10, 2019 . Mr. Darmody, the former Director of Investor Relations of Trulieve, was named Chief Operating Officer responsible for Trulieve operations in March of 2019. Tim Morey , currently Director of Retail, has been appointed to Chief Sales Officer.

  • Bloomberg

    Green Organic Mulls Pot Bonds

    (Bloomberg) -- The Green Organic Dutchman Holdings Ltd. is looking at alternative means to fund the medical cannabis firm’s construction projects after unsuccessful discussions for commercial bank facilities and equipment leasing.The company is “exploring non-bank debt financing alternatives such as issuing bonds or raising private loans,” Green Organic spokesman Sebastien Bouchard wrote in an email.The Toronto-based medical cannabis firm said it’s reviewing funding options in order to complete building its facilities in Ancaster, Ontario and Valleyfield, Quebec, according to a statement. Green Organic said it “may revise the construction schedule” for the projects if it’s unable to secure sufficient financing on reasonable terms within a required time frame.Green Organic says it has no debt and $56.7 million in cash available in Canada, including $40.2 million in restricted cash marked for capital expenditures. The stock fell as much as 24% on Wednesday to C$1.31, a record low. It has now lost three-quarters of its value since its recent high on March 19.Credit financing for pot companies remains relatively rare as most firms are in the process of reaching positive margins out of their core businesses. Still, Canada-listed Trulieve Cannabis Corp. raised $70 million via the first pot bond with a publicly-available prospectus earlier this year while in May, Green Thumb Industries Inc. issued $105 million of senior secured notes in a self-brokered deal.Instead of debt financing, cannabis companies have been offering equity and convertible securities as preferred channels to finance their investment plans. Nonetheless, the industry’s stocks have under performed recently, making issuance more challenging.(Adds stock price decline in fourth paragraph.)\--With assistance from Paula Sambo and Kristine Owram.To contact the reporter on this story: Esteban Duarte in Toronto at eduarterubia@bloomberg.netTo contact the editors responsible for this story: Nikolaj Gammeltoft at ngammeltoft@bloomberg.net, Allan LopezFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Trulieve to Open New Dispensary in Cape Coral, 37th in Florida
    CNW Group

    Trulieve to Open New Dispensary in Cape Coral, 37th in Florida

    CAPE CORAL, FL , Oct. 2, 2019 /CNW/ - Trulieve Cannabis Corp. (CSE: TRUL & OTCQX: TCNNF) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the United States , is set to open the doors of their record 37th Florida location on Thursday, October 3rd , in Cape Coral . Trulieve presently operates 36 other dispensaries throughout the State of Florida , including in the nearby communities of Fort Myers , Bonita Springs , and Venice .

  • Market Exclusive

    Cannabis Stock News Daily Roundup October 2

    The Yield Growth (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) announced that five more Urban Juve products have received a compliance certificate completing registration of the products in the European Union. The newly-approved products include Terpene-Rich Face Moisturizer with Hemp Oil & Pomegranate Oil for Dry Skin, Terpene-Rich Face Moisturizer with Hemp Oil & Helichrysum Flower Water for […]The post Cannabis Stock News Daily Roundup October 2 appeared first on Market Exclusive.

  • Trulieve Set to Open its 36th Dispensary, Bringing Access Directly to Patients in Destin
    CNW Group

    Trulieve Set to Open its 36th Dispensary, Bringing Access Directly to Patients in Destin

    DESTIN, FL , Sept. 30, 2019 /CNW/ - Trulieve Cannabis Corp. (CSE: TRUL & OTCQX: TCNNF) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the United States , is set to open the doors of their latest location on Tuesday, October 1st . Trulieve's newest location is the first dispensary in the community of Destin and advances the company's mission of expanding and ensuring patient access statewide. Trulieve presently operates 35 other dispensaries throughout the State of Florida , including in the nearby communities of Pensacola and Tallahassee .

  • Trulieve Opens Latest Storefront in Largo, Reaching Milestone of 35 Florida Locations
    CNW Group

    Trulieve Opens Latest Storefront in Largo, Reaching Milestone of 35 Florida Locations

    LARGO, FL , Sept. 27, 2019 /CNW/ - Trulieve Cannabis Corp. (CSE: TRUL & OTCQX: TCNNF) ("Trulieve" or "the company"), a leading and top-performing cannabis company in the United States , is set to open the doors of a new Largo location on Saturday, September 28th . Trulieve presently operates 34 other dispensaries throughout the State of Florida , including in the nearby communities of Clearwater , Clearwater Beach , St. Petersburg , and Tampa .

  • Trulieve CEO Kim Rivers to Deliver Keynote Speech at Arcview Investor Forum
    CNW Group

    Trulieve CEO Kim Rivers to Deliver Keynote Speech at Arcview Investor Forum

    TORONTO , Sept. 26, 2019 /CNW/ - Trulieve Cannabis Corp. ("Trulieve" or the "Company") (TRUL.CN) (TCNNF), a leading and top-performing cannabis company in the United States , today announced that CEO Kim Rivers is scheduled to deliver a keynote address at Arcview Investor Forum: The Evolution of Cannabis: 2020, on Wednesday, October 2 nd, 2019. This three-day event being held in New York City will bring together top fund managers and key investors with prominent leaders from the cannabis industry. Ms. Rivers' presentation will commence at 5:15 p.m. EDT and focus on diversity and inclusion and the positive socio-economic impacts these initiatives could have on the industry.

  • Trulieve Provides Patients Expanded Access as Doors Open in Jacksonville Beach
    CNW Group

    Trulieve Provides Patients Expanded Access as Doors Open in Jacksonville Beach

    JACKSONVILLE BEACH, FL , Sept. 25, 2019 /CNW/ - Trulieve Cannabis Corp. (CSE: TRUL & OTCQX: TCNNF) ("Trulieve" or "the company"), continues to meet the state registry's rapid growth rate as the doors of a new dispensary in Jacksonville Beach are set to open on Thursday, September 26th . The 6th Avenue dispensary, serving patients in Northeast Florida , marks the company's 34th storefront in Florida and advances its mission of expanding and ensuring patient access. Trulieve presently operates 33 other dispensaries throughout the State of Florida , including in the nearby communities of Jacksonville , Fernandina Beach , St. Augustine , and Palm Coast .

  • Trulieve Brings Direct Access to the Florida Keys with New Key West Dispensary
    CNW Group

    Trulieve Brings Direct Access to the Florida Keys with New Key West Dispensary

    KEY WEST, FL , Sept. 16, 2019 /CNW/ - Trulieve Cannabis Corp. (CSE: TRUL & OTCQX: TCNNF) ("Trulieve" or "the company"), continues to match the state registry's rapid growth pace as the doors of a new dispensary in Key West to open on Tuesday, September 17th . As the company's 33rd physical storefront in Florida , the dispensary will directly serve patients living in the Florida Keys, continuing Trulieve's mission of expanding and ensuring patient access.

  • Curaleaf Comes Out with Cannabis Tablets in Florida
    Market Realist

    Curaleaf Comes Out with Cannabis Tablets in Florida

    Yesterday, Curaleaf became the first company to launch medical cannabis tablets in Florida. It's made these tablets available at all state dispensaries.

  • Trulieve's Port Charlotte Location Brings Expanded Access to Patients in Southwest Florida
    CNW Group

    Trulieve's Port Charlotte Location Brings Expanded Access to Patients in Southwest Florida

    PORT CHARLOTTE, FL , Sept. 13, 2019 /CNW/ - Trulieve Cannabis Corp. (CSE: TRUL & OTCQX: TCNNF) ("Trulieve" or "the company"), continues to match the state registry's brisk growth pace as the doors of a new dispensary open on Friday, September 13th . As the company's 32nd physical storefront in Florida , the Port Charlotte dispensary will directly serve patients living in Charlotte County , continuing Trulieve's mission of expanding and ensuring patient access.

  • Benzinga

    Chicago Cannabis Capital Conference: Meet The MSO Panel

    If you have attended past Cannabis Capital Conferences, you know that Benzinga is recognized for bringing in the most reputable, cutting-edge companies and speakers in the industry. From an extemporaneous keynote from Acreage Holdings Inc (OTC: ACRGF) CEO Kevin Murphy to a fireside chat with “King of Instagram” Dan Bilzerian, Benzinga events are nothing short of exciting. While Benzinga's events team gears up for its biggest, most unforgettable conference yet — we are happy to announce speakers of the highest caliber.

  • Trulieve Cannabis Stock Is an Attractive Value Buy
    TipRanks

    Trulieve Cannabis Stock Is an Attractive Value Buy

    Watch the author’s track record on TipRanksThe market has become so negative on the cannabis sector that even strong operators like Trulieve Cannabis (TCNNF) have seen stocks dip 20% in a few months. Without all of the hoopla in the market, the company just reported one of the largest quarterly revenues. With a market valuation now below $1 billion, the U.S. multi-state operator offers a compelling value without the aggressive spending rampant in the sector.Not So SmallTrulieve is very focused on the Florida cannabis market possibly causing the typical investor to look past the company. A lot of investors were attracted to the Canadian LPs due to the global expansion possibilities, but those haven’t panned out as much as expected.Trulieve is a much larger organization than most probably think. The company has over 2,000 employees now with 30 retail stores open in Florida. The total cultivation space is now up to 1.6 million square feet to meet the needs of 192,000 patients. The amount doesn’t match the Canadian operators, but a production capacity of 62,000 kg in a single state better matches supply with demand.In the last few months, Trulieve has quietly made entries into California, Connecticut and Massachusetts. The company only has access to single dispensaries in Palm Springs, CA and Bristol, CT along with three locations in Massachusetts. The current plans aren’t large, but Trulieve is definitely poised to grow beyond the Florida market.Profit MachineIn a sector where plenty of companies aren’t focused enough on generating a profit, Trulieve is far ahead of the pack. In Q2 alone, the company generated an adjusted EBITDA of $31.6 million, up 60% from $19.0 million in March.The company turned revenues of $57.9 million and 67% gross margins into an EBITDA margin reaching an incredible 55%. The focus on one particular market or state and slow expansion has left Trulieve in a far better position to expand in a logical method along with the cannabis sector assets now on sale. The only hiccup with Trulieve generating such large margins is the IRS tax code currently doesn’t allow for the deduction of operating expenses to reduce the tax bill.A prime example of the benefits are the quarterly operating expenses of only $14.8 million or ~25% of revenues. Several Canadian players are achieving similar revenue levels with operating expenses in excess of gross profits. Trulieve is far more efficient.With analysts forecasting 2020 revenues approaching $400 million and the stock valuation down at only $900 million, new investors will likely be happy the company took the slow and steady path to growth.  Only as recently as April, the stock traded above $15 and hit a 52-week high of $21. With the stock at $8, the founders are committed to not sell shares until July 2020 via a voluntary lock-up agreement. Another sign of the value in the stock when the founders have not reason to extend a lockup.The Street's Predicting Significant GainsThis cannabis player stands as a 'Strong Buy' name among Wall Street analysts. In the last three months, Trulieve has won three bullish recommendations. With a return potential of close to 180%, the stock's consensus price target lands at $23.54. (See Trulieve's price targets and analyst ratings on TipRanks)TakeawayThe key investor takeaway is that Trulieve Cannabis continues to chase domestic growth via a slow and steady path to generate exceptional results. The U.S. MSO is positioned for success as the market overlooks the growth potential and the catalysts once the Federal government approves cannabis and allows for tax deductions along with listing on major stock exchanges.Disclosure: No position.

  • Trulieve Further Strengthens Leadership Team with New Hires
    CNW Group

    Trulieve Further Strengthens Leadership Team with New Hires

    TORONTO , Sept. 9, 2019 /CNW/ - Trulieve Cannabis Corp. ("Trulieve" or the "Company") (TRUL.CN) (TCNNF), a leading and top-performing cannabis company in the United States , today announced the hiring of two new members to its leadership team. Chris Kelly has been named Director of Wholesale for Trulieve. Chris brings over 25 years of consumer packaged goods expertise to Trulieve, with a vast knowledge of go-to-market methods in wholesale, direct store delivery, third-party distribution and broker sales.

  • Why Trulieve Cannabis Stock Isn’t Getting a Lot of Love from Investors
    TipRanks

    Why Trulieve Cannabis Stock Isn’t Getting a Lot of Love from Investors

    A cursory glance at Trulieve Cannabis (TCNNF) would suggest the company should be attracting a lot of attention from investors, as it has been growing at a decent pace without a lot of dilution.Its primary market is Florida, although it's starting to take steps to branch out to other markets. Focusing on one major market has allowed Trulieve to scale out at a low cost, resulting in an impressive gross margin, which while being slightly down in the last reporting period, still remains robust.The decline in gross margin was from the increase in dried flower sales which has narrower margins.Even so, it would seem the gradual and consistent growth of Trulieve would generate a better share price, but my thesis is the very thing that makes Trulieve attractive to some investors, while drives others away.We'll look at what that is in this article.Some numbersIn the last quarter Trulieve generated revenue of $57.9 million, an increase of just under 150 percent. While it's not a bad performance by any means, it did lag behind a number of its peers, including some of the stronger-performing Canadian companies. As measured against its prior earnings period, sales were up 30 percent.The company said sales growth was the result of increasing its store base to 30, and launching cannabis flower products. Consequently, the number of registered medical cannabis patients in the state increased.Another significant thing to consider in the latest earnings report was while it did produce the big revenue boost, that was mostly from one-off fair-value adjustments valued at $66.2 million. Without that the company's gross profit was $37.6 million. With easily beat the $16.6 million in operating expenses, but still more modest than the numbers pointed to.Why it's not getting a meaningful pushThe major reason I see for Trulieve not getting a lot of interest from investors is the business model it uses. It would be more impressive if the business model it now uses was being incorporated a few years from now, but as the market stands today, it isn't built to deliver the rewards associated with a high-risk sector.That's the problem Trulieve will have to solve. After all, why invest in a company in a risky sector if it isn't positioned to deliver a strong reward?If investors want to invest in a safer stock, there are a lot of options they have to choose from within established and less volatile industries.What some in the industry that support Trulieve do is point out its low costs and small amount of good will on its balance sheet. Again, if I want to invest in a low-risk stock, I don't want to waste my capital on a company operating in a high-risk sector. What would be the point?So while Trulieve does in fact have these as perceived strengths, and probably over the long term, if it maintains its discipline as it scales to other states, should be a good performer.But when measured against a number of its competitors that are poised to break out again once postive sentiment returs to the cannabis sector, it's not going to come close to bringing the potential upside investors are looking for when seeking companies that can deliver huge results.ConclusionThe problem for Trulieve is its successful implementation of its business model; or in other words, its business model for where the cannabis industry is at this time, isn't that attractive.Again, if investors want safety, they aren't going to look to the cannabis sector as a whole, they're going to go to much more traditional investments with proven track records when the market is jittery and volatile.I do believe Trulieve will continue to chug along in its growth trajectory, and over the long term should catch a bid. In the mean time, when looking at where I want to place my money for higher potential rewards, there are better cannabis stocks to take a position in, especially after the big correction it has been going through.Trulieve should make shareholders money, but some of the more aggressive companies will generate a lot more over the next couple of years.Visit TipRanks’ Trending Stocks page, and find out what companies Wall Street’s top analysts are looking at now.

  • TipRanks

    Seaport Sees a Sea Change in Marijuana Stock Valuations

    Just three months ago, Seaport analyst Brett Hundley was rolling back price targets on Canadian cannabis stocks, cutting forecasts for both sales and EBITDA left and right -- and Hundley was right to do so. Since the analyst began slashing targets, shares of Aphria (APHA) and Hexo (HEXO) (two subjects of the analyst's ire in June) have fallen 10% and 35%, respectively. More broadly (and over a longer time horizon) the Horizons US Marijuana Index ETF has declined 39% from April to today -- against a broader S&P 500 performance that's been basically flat.And yet, there comes a day that marijuana stock prices get too cheap to ignore, and that day, apparently, was Labor Day 2019.Seaport Announces a Labor Day SaleIn a report just out entitled "Labor Day Sale", Hundley argues that after the sell-off, it's now "time to buy cannabis stocks" again. His reason:"Quality cannabis names" are trading at "2020 price-to-sales multiples near 3.0x-4.0x, alongside EV multiples of 7.5x-10.5x against 2020/21 EBITDA expectations." In the analyst's opinion, these valuations have been depressed for several good reasons, including "disappointing and frustrating regulatory developments, delayed profitability expectations, specific compliance/credibility issues, and founder/management upheaval."And yet, Hundley foresees a "potential for forward regulatory improvements/updates and widening access to capital" that could result in higher valuations going forward. And he further argues that "the [marijuana] space is profitable" already -- albeit only profitable from the perspective of "EBITDA," which considers earnings but not the interest, taxes, depreciation, and amortization that generally come along with (and subtract from) them.Given this continued absence of real profitability, though, are any of these stocks really bargains, even down 39% on average?3 'Quality Cannabis Names' to ConsiderHundley notes that the valuations on his alleged "quality cannabis names" look attractive when compared to "biotech/pharma" stocks trading "6.0x+ 2020 sales expectations and 15.0x-25.0x 2020/21 EBITDA expectations." But which ones exactly? Let's take a closer look.Canopy Growth (CGC) for example, probably the best-known Canadian cannabis stock (and certainly the most expensive at $8.9 billion in market capitalization), currently sells for 19 times the $467 million in sales it's expected to produce in 2020. Aurora Cannabis (ACB), the next-biggest player in the industry at $5.9 billion in market cap, costs more than 11 times the $516 million in sales that analysts project for it in 2020. And Cronos Group (CRON), No. 3 in the industry at $3.9 billion in market cap, costs a staggering 23.6 times forward sales!In fact, to get anywhere close to his promised "3.0x-4.0x" sales valuations, Hundley has to scrape pretty far down into the barrel, coming up with just one example from his own coverage list: Green Thumb Industries (GTBIF), which he says at $1.6 billion in market cap costs 3x fiscal 2020 projected sales. Granted, the analyst says there are other names down in that barrel as well, if you're willing to look for them -- Cresco (CRLBF) for one, and Trulieve (TCNNF) for another.But if these are the kind of "quality cannabis names" Hundley is urging investors to look for, it bears asking: If they're so great, why hasn't he bothered to cover Cresco and Trulieve before?The answer could be as simple as this: Because they aren't.Visit TipRanks’ Trending Stocks page, and find out what companies Wall Street’s top analysts are looking at now.

  • Earnings Forecasts for U.S. Pot Stocks Are Starting to Crumble
    Motley Fool

    Earnings Forecasts for U.S. Pot Stocks Are Starting to Crumble

    Is it time for investors to head for the exit?

  • 3 Top Cannabis Stocks to Buy in September
    Motley Fool

    3 Top Cannabis Stocks to Buy in September

    These marijuana stocks look like winners for investors with long-term perspectives.

  • You Might Be Surprised by Which State Could be Headed Towards Legalizing Recreational Pot
    Motley Fool

    You Might Be Surprised by Which State Could be Headed Towards Legalizing Recreational Pot

    Here's a hint: The outlook for legalization looks quite sunny.

  • 2 Cannabis Stocks That Absolutely Crushed It in the Second Quarter
    Motley Fool

    2 Cannabis Stocks That Absolutely Crushed It in the Second Quarter

    These marijuana stocks are delivering eye-opening growth, and they should be on your radar.

  • Benzinga

    Cannabis Countdown: Top 10 Marijuana Industry News Stories Of The Week

    The state’s hemp sector has come a long way since it began as a research and development program under the 2014 Farm Bill, Nevada Senate Bill 305 and Senate Bill 396. “Now in our fourth growing season, we have certified 207 registered growers, 53 handlers and 37 seed producers to date,” said Ashley Jeppson, Nevada Department of Agriculture (NDA) Plant Industry division administrator.

  • Trulieve Continues Expanding Patient Access with Latest Florida Location
    CNW Group

    Trulieve Continues Expanding Patient Access with Latest Florida Location

    CLEARWATER BEACH, FL , Aug. 16, 2019 /CNW/ - Trulieve Cannabis Corp. (CSE: TRUL & OTCQX: TCNNF) ("Trulieve" or "the company"), a leading and top-performing cannabis company in the United States , opened the doors of a new Clearwater Beach location on Friday, August 16th . The new storefront marks another milestone as the company's 31st physical Florida location opens its doors and expands access to patients in Clearwater Beach . "When we were getting started back in 2016, Clearwater was our second store.

  • Benzinga

    Trulieve: Availability Of Flower Boosted Florida's Medical Marijuana Market In Q2

    Tallahassee, Florida-based Trulieve Cannabis Corp.  (OTC:  TCNNF ) benefited from 19% medical marijuana patient growth in The Sunshine State in the second quarter, fueled largely by the introduction of ...

  • Trulieve Reports Strong Operational Results, Record Revenue and Profits, and Grows Footprint in the Second Quarter of 2019
    CNW Group

    Trulieve Reports Strong Operational Results, Record Revenue and Profits, and Grows Footprint in the Second Quarter of 2019

    Trulieve Reports Strong Operational Results, Record Revenue and Profits, and Grows Footprint in the Second Quarter of 2019

  • 2 U.S. Marijuana Stocks to Buy and 1 to Avoid
    Motley Fool

    2 U.S. Marijuana Stocks to Buy and 1 to Avoid

    Big names don't necessarily make for the best investments.