Geometry Dash APK Hill Climb Racing APK
39.2 F
New York
Monday, January 17, 2022

Why the Party Has Started for Trulieve Cannabis Corp (OTCMKTS:TCNNF)

Must read

Medmen Enterprises Inc (OTCMKTS:MMNFF) Pulls Back From Highs as Buzz Cools Off

Among the sectors which have bounced back in 2021, the cannabis sector is one of considerable interest since it had been in...

VirtualArmour International Inc (OTCMKTS:VTLR) Jumps Another 250% This Week

Not every move in the stock market can always be explained and hence, investors are often rightly confused when a stock records...

Ozop Energy Solutions Inc (OZSC) is Riding a Green Wave of Momentum

Investors who are looking for fresh opportunities in rising stocks may have a lot to choose from at this point but it...

Drone Delivery Canada Corp (OTCMKTS:TAKOF) is Soaring after Roadmap Update

The drone industry has grown at a remarkable rate over the past five years or so and hence, it is no surprise...

A relative newcomer in the cannabis patch that has started to rip to the upside in recent days is Trulieve Cannabis Corp (OTCMKTS:TCNNF). Shares just vaulted above the 50-day simple moving average last week on a big jump in volume. One reason why is surely the company’s announcement that it is opening the doors on its newest location Monday, the dispensary a first for St. John’s County and the company’s 24th in Florida.

According to the release, “Presently, Trulieve operates 23 other dispensaries throughout the state of Florida, including locations in Jacksonville and Palm Coast. As part of the company’s mission to ensure safe, reliable access for patients statewide, Trulieve plans to continue opening stores statewide as the patient registry and demand grows.”

Trulieve Cannabis Corp (OTCMKTS:TCNNF) promulgates itself as a company that, through its subsidiary, Trulieve, Inc., engages in the cultivation, possession, distribution, and sale of medical cannabis in the United States.

It offers a suite of Trulieve branded products with approximately 125 SKUs, including nasal sprays, capsules, concentrates, syringes, and cannabis flower in tamper-proof containers for vaporizers, topical creams, tinctures, and vape cartridges.

The company distributes its products to Trulieve branded stores (dispensaries) in Florida, as well as takes orders online and by phone for delivery. As of November 20, 2018, the company operated 21 dispensaries. Trulieve Cannabis Corp. is headquartered in Quincy, Florida.

According to company materials, “Trulieve is a vertically integrated “seed to sale” company and is the first and largest fully licensed medical cannabis company in the State of Florida. Trulieve cultivates and produces all of its products in-house and distributes those products to Trulieve branded stores (dispensaries) throughout the State of Florida, as well as directly to patients via home delivery. Trulieve is listed on the Canadian Securities Exchange under the symbol TRUL.”

Find out when $TCNNF reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

As noted above, TCNNF just announced that it is opening the doors on its newest location Monday, the dispensary a first for St. John’s County and the company’s 24th in Florida.

Traders will note 44% tacked on to share pricing for the company in the past month. Furthermore, the company has seen a growing influx of trading interest, with the stock’s recent average trading volume running 60% beyond what we have been seeing over the larger time frame.

It pays to take note of this fact with a float in play that’s very limited — of 9.2M shares. Traders should not overlook this combination, as ramping trading activity can overwhelm available supply in a stock with this type of small float, leading to an upward burst in prices.

“Since its inception, Trulieve has been dedicated to reliable patient access. We have taken our responsibility as St. Augustine’s only approved dispensary very seriously and worked to create a space where patients can feel safe and comfortable, while ensuring their access to the same high-quality products and natural relief patients across Florida have access to,” said Kim Rivers, Trulieve CEO. “Our goal with this dispensary is to continue providing safe, effective relief to patients who need it most, especially those who may not have been able to make it to a physical location before.”

Earning a current market cap value of $1.22B, TCNNF has a significant war chest ($54.5M) of cash on the books, which stands against about $29.9M in total current liabilities. One should also note that debt has been growing over recent quarters. TCNNF is pulling in trailing 12-month revenues of $89.4M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 2886.3%. We will update the story again soon as developments transpire. Sign-up for continuing coverage on shares of $TCNNF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $TCNNF, either long or short, and we have not been compensated for this article.

Latest article

iQSTEL Inc (OTCMKTS:IQST) Stock Makes a Big Move: Jumps 45% In a Week

In the past week, iQSTEL Inc (OTCMKTS: IQST) has emerged as a point of focus among a large number of investors and...

HUMBL Inc (OTCMKTS:HMBL) Stock Sees Big Bounce After Recent Slump

Since the beginning of 2021, HUMBL Inc (OTCMKTS:HMBL) had been one of the major movers from among penny stocks and had come into...

Dividend Stocks to Buy Now

A classic mistake that investors make when looking for dividend stocks is to just go for the biggest dividend yield. It makes...

88 Energy Ltd (OTCMKTS:EEENF) Stock Surges 40% But Can’t Hold Gains

The oil and gas company 88 Energy Ltd (OTCMKTS:EEENF) seems to have come back on to the radars of investors over the...

Net Savings Link Inc (OTCMKTS:NSAV) Stock is Getting Pummeled Again

Nowadays there are plenty of options for investors when it comes to making investments in the cryptocurrency and...
Şehirler arası nakliyat ve Şehirler arası taşımacılık konusunda en uygun fiyatlar ve en kaliteli hizmet.
ofis taşıma firmaları ve ofis taşıma konusunda en uygun fiyatlar ve en kaliteli hizmet.
SmsVerifyer.com Affordable best sms verification service