Why the Latest Trulieve Cannabis Corp (OTCMKTS:TCNNF) Move is Key

Why the Latest Trulieve Cannabis Corp (OTCMKTS:TCNNF) Move is Key

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Shares of Trulieve Cannabis Corp (OTCMKTS:TCNNF) continue to demonstrate clear relative strength in the cannabis space, with the stock vaulting as high as $16/share in the past week on steadily increasing volume. To make matters more interesting, the company just announced that it has signed an agreement with California-based Blue River Extracts & Terpenes to bring their award-winning terpene extracts and other trademark branded products to Florida’s growing patient base.

According to the release, “Blue River is an industry-leading cannabis company that has focused on the development of full spectrum solvent-less cannabis derived terpenes and began utilizing terpenes with advanced mechanical extraction techniques to create an array of award winning branded products including, Rosin, Dry Sift Sap, Vape Cartridges, CBD Crystalline, Rosin Sauce, THCa, Flan, and Jelly, which earned them over 50 cannabis awards to date. Blue River continued to shape the landscape of the cannabis industry through their proprietary solvent-less extraction technology and helped to popularize full-spectrum solvent-less products with the use of cannabis derived terpenes.”

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.”

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As noted above, TCNNF just announced that it has signed an agreement with California-based Blue River Extracts & Terpenes to bring their award-winning terpene extracts and other trademark branded products to Florida’s growing patient base. Traders will note 27% piled on for shareholders of the listing during the trailing month.

Moreover, the company has registered increased average transaction volume recently, with the past month seeing a bit less than 120% over the long run average. This should not be overlooked with the stock trading on a float that is tight at just 13.3M shares.

“Blue River has truly set the standard for innovation and excellence with their terpene technology, creating products that are high-quality and one-of-a-kind. Their dedication to quality, excellence, and standardization has changed the landscape of the cannabis market and matches Trulieve’s own dedication to the same standards,” said Trulieve CEO Kim Rivers. “Their products are an effective, reliable option for patients seeking relief in innovative ways.”

Now commanding a market cap of $1.66B, TCNNF has a significant war chest ($54.5M) of cash on the books, which is balanced by 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%. As more color becomes clear on the name, we will review the situation and update our take. 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.

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