Trulieve (OTCQX:TCNNF) is a medical and adult-use cannabis company that operates mainly in Florida at the time of writing. The stock has fallen considerably from all-time highs after the CEO's husband was found guilty of corruption charges.
Full Answer
Is there too much downside for Trulieve stock?
Given that Trulieve's stock has come all the way back down to where it was around the time of the 2020 election, I don't think there is too much downside here. That's especially true since Trulieve is among the most profitable and cash-rich U.S. cannabis stocks.
Is it time to buy Trulieve stock?
Negative press can weigh down a stock, and if the concerns are unfounded (which it looks like they are in this situation), it can create a buying opportunity for investors to take advantage of a low-priced stock. If you're bullish on Trulieve, now may certainly be a good time to buy shares of the company.
What happened to Trulieve?
The big event for Trulieve was closing its massive $2.1 billion acquisition of Harvest Health and Recreation on Oct. 1. Before the deal, Trulieve had pursued a somewhat unusual strategy of concentrating its efforts to dominate a single state: Florida.
How does Trulieve stock compare to its peers?
Here's how Trulieve compares to some of its peers when looking at price-to-sales (P/S): Once its acquisition of Harvest Health goes through (the timeline on that remains vague), Trulieve will be an even cheaper buy given Harvest Health's even lower P/S ratio.
Is Trulieve a buy right now?
On many measures Trulieve is at the top in performance and potential. Successful investing means investing in companies that will be successful. The chances of doing this are greatly improved by picking companies that have a proven record of success. Trulieve gets my Strong Buy recommendation.
Is Trulieve a good stock to buy 2022?
Trulieve expects 2022 to be another robust year. Management expects revenue to show up in the range of $1.3 billion to $1.4 billion and adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) in the range of $450 million to $500 million.
Will TCNNF go up?
Trulieve Cannabis Corp (OTCQX International:TCNNF) The 19 analysts offering 12-month price forecasts for Trulieve Cannabis Corp have a median target of 46.07, with a high estimate of 95.99 and a low estimate of 16.98. The median estimate represents a +248.78% increase from the last price of 13.21.
Is Trulieve making money?
Trulieve is still expecting full-year revenue of $1.3 billion to $1.4 billion, compared with a FactSet consensus of $1.34 billion.
How high Can Trulieve stock go?
Based on 8 Wall Street analysts offering 12 month price targets for Trulieve Cannabis in the last 3 months. The average price target is $44.44 with a high forecast of $57.00 and a low forecast of $27.00.
Will Trulieve stock go up?
Will Trulieve Cannabis Stock Go Up Next Year? Over the next 52 weeks, Trulieve Cannabis has on average historically risen by 95.4% based on the past 2 years of stock performance.
What is the target price for Trulieve?
Stock Price TargetsHigh$95.99Median$46.07Low$26.11Average$45.84Current Price$14.57
Is TCNNF a buy or sell?
According to the issued ratings of 9 analysts in the last year, the consensus rating for Trulieve Cannabis stock is Buy based on the current 9 buy ratings for TCNNF. The average twelve-month price prediction for Trulieve Cannabis is $61.50 with a high price target of $75.00 and a low price target of $47.00.
What company owns Trulieve?
Trulieve Cannabis Corp. is a vertically integrated cannabis company. The Company is a multi-state operator in the United States operating in states, with market positions in Arizona, Florida, and Pennsylvania....TRULIEVE CANNABIS CO.Delayed - 06/17 03:59:59 pm17.51CAD-0.23%6 days ago
Is Trulieve a good stock to buy 2021?
One of the best and most profitable U.S. multistate operators is Trulieve Cannabis (TCNNF 1.64%), which was up more than 60% by January and February in 2021, before falling with the sector to finish the year down 17.7%. After the fall, shares are basically back where they were shortly after the 2020 election.
How big is Trulieve?
Today, with the completion of the Harvest acquisition, our Company has over 100 stores in Florida, and approximately 150 operated and affiliated dispensaries nationwide, with more growth ahead.
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Should I buy or sell Trulieve Cannabis stock right now?
9 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Trulieve Cannabis in the last twelve months. There are currently...
What is Trulieve Cannabis' stock price forecast for 2022?
9 Wall Street analysts have issued 1-year price objectives for Trulieve Cannabis' shares. Their forecasts range from $47.00 to $135.00. On average,...
How has Trulieve Cannabis' stock price performed in 2022?
Trulieve Cannabis' stock was trading at $26.01 at the start of the year. Since then, TCNNF shares have decreased by 46.1% and is now trading at $14...
Are investors shorting Trulieve Cannabis?
Trulieve Cannabis saw a increase in short interest in May. As of May 31st, there was short interest totaling 453,400 shares, an increase of 22.8% f...
When is Trulieve Cannabis' next earnings date?
Trulieve Cannabis is scheduled to release its next quarterly earnings announcement on Wednesday, August 10th 2022. View our earnings forecast for...
How were Trulieve Cannabis' earnings last quarter?
Trulieve Cannabis Corp. (OTCMKTS:TCNNF) issued its quarterly earnings results on Monday, November, 15th. The company reported $0.14 EPS for the qua...
What guidance has Trulieve Cannabis issued on next quarter's earnings?
Trulieve Cannabis issued an update on its FY 2022 earnings guidance on Thursday, June, 9th. The company provided earnings per share (EPS) guidance...
Who are Trulieve Cannabis' key executives?
Trulieve Cannabis' management team includes the following people: Ms. Kimberly Rivers , Founder, Chairman & CEO (Age 43, Pay $4.3M) Mr. Alex D'A...
Who are some of Trulieve Cannabis' key competitors?
Some companies that are related to Trulieve Cannabis include Abacus Health Products (ABAHF) , Acreage (ACRGF) , Alliance Growers (ACGWF) , Alth...
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Does JT speak for Trulieve?
There is nothing illegal in the end politicians have the final say and are responsible alone for the decision they make. JT does not speak for Trulieve and is not working at Trulieve.
OTC: TCNNF
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A combination of negative press and weakness in marijuana stocks as a whole has brought the stock to levels unseen since November 2020
Trulieve Cannabis ( TCNNF -3.77% ) is one of the top cannabis producers in the world. And once its deal with multi-state marijuana operator Harvest Health & Recreation eventually goes through, it could even be the industry leader in terms of revenue.
Why is the stock struggling?
There isn't an overwhelming reason why marijuana stocks in general would be falling as heavily as they have been. That said, growth stocks overall have been struggling -- Cathie Wood's ARK Innovation ETF has fallen more than 6% in six months, while the S&P 500 has risen 18%. And a lot of that may have to do with inflated valuations.
OTC: TCNNF
Cannabis investors may have also been expecting more progress when it comes to marijuana reform. In January, the CEO of Canadian marijuana producer Canopy Growth said he expected to be operating in the U.S.
How cheap is Trulieve right now?
Here's how Trulieve compares to some of its peers when looking at price-to-sales (P/S):
Should you invest in Trulieve today?
Trulieve is trading at a discount to many of its peers, as investors are likely worried about whether the legal troubles involving Burnette will spill over into problems for the company. However, at this point, there's no reason to expect that will be the case.
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Why Trulieve Stock Is Poised to Double Over the Coming Quarters
The legal marijuana industry has been having a tough go since early this year, weighed down by legislative inactivity from the pro-cannabis Democrats. They’ve promised to legalize cannabis at the federal level, but they haven’t done much on that issue since winning the November 2020 election.
About TCNNF Stock
A lot has been happening in the cannabis industry, and even more has been happening at Trulieve.
Analyst Take
Consistently strong financial results, a blockbuster acquisition, and new developments in the federal legalization of marijuana have positioned Trulieve Cannabis Corp as a leader in the recreational and medical pot industry in the U.S.
The Five Largest MSOs
We previously wrote about m ulti- s tate o perators ( MSO s), a list that’s slowly been consolidating over time. The five biggest MSOs today based on their current market caps in USD are Curaleaf ( CURA.CN ), Trulieve Cannabis ( TRUL.CN ), Green Thumb Industries ( GTII.CN ), Cresco Labs ( CL.CN ), and Columbia Care ( CCHW.CN ).
The Good
Initially, loads of capital flowed into the cannabis industry, and many companies overextended themselves by acquiring too quickly and spending money like drunken sailors. Let’s assume that the capital spigot is now flowing at a fraction of what it used to, so companies that demonstrate consistent profitability over time are desirable.
The Bad
Earlier, we mentioned how funding for cannabis companies may have dried up, something that’s not only attributable to investor interest, but also to the legalities surrounding financial products associated with an illegal drug.
The Ugly
We always talk about the importance of uncovering red flags and Trulieve has one so big you could hang it in Tiananmen square. This past August, J.T. Burnette, the husband of Trulieve CEO Kim Rivers, was convicted of five of nine federal corruption-related charges.
Would We Buy Trulieve?
The cannabis market is extremely fragmented, so we’re interested in companies that demonstrate leadership in whatever states they operate in. Therefore, market leadership in the states you operate in is far more important than how many total states you operate in.
Conclusion
Going long cannabis at current valuations seems to make sense. Trulieve’s consistent profitability over the past 15 quarters, ability to secure a large amount of funding under favorable terms, and recent closure of the biggest M&A event in cannabis history ( says the firm) make them stand out among their peers.
