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Trulieve Cannabis Corp (OTCMKTS:TCNNF) Rises to the Challenge in the Sunshine State

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Trulieve Cannabis Corp (OTCMKTS:TCNNF) recently announced that it opened the doors of its latest Florida location on Tuesday, November 26th, in Lakeland. According to the release, the Central Florida location is a milestone for Florida’s largest operator as Trulieve becomes the first operator in Florida to reach 40 locations.

“Trulieve has come a long way over the past three years – from closing out 2016 with only two stores to celebrating our record-breaking 40th store in Florida with even more to come in 2019 — and 2020 – as we continue to strategically plan for the future,” said Trulieve CEO Kim Rivers. “As the patient registry continues to grow and Florida’s residents continue to seek alternative, natural relief, we will continue our mission to expand access to the natural, effective, and safe medications they have come to rely on.”

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 opened the doors of its latest Florida location on Tuesday, November 26th, in Lakeland.

Traders will note 14% piled on for shareholders of the listing during the trailing month. In addition, the company has witnessed a pop in interest, as transaction volume levels have recently pushed 37% over the long run average.

Rivers added, “With a focus on delivering strong customer-centric experiences, our well-trained staff is ready to assist patients at every step of the process. Whether they are taking their first steps into medical cannabis or seeking a new treatment option, we encourage patients to reach out to find out more.”

Now commanding a market cap of $427M, TCNNF has a significant war chest ($41.1M) of cash on the books, which must be weighed relative to about $64.9M in total current liabilities. TCNNF is pulling in trailing 12-month revenues of $277.5M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 152.3%. You can bet we will update this one again as new information comes into view. 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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