Trulieve Cannabis Corp (OTCMKTS:TCNNF) just announced a new-to-Florida product line: Binske cannabis-infused olive oil tinctures.
According to the release, “The 300mg cold-pressed olive oil tinctures are available in 5 distinct flavors: Truffle, Rosemary, Lemon, Garlic, and Extra Virgin, all sourced from a certified organic olive orchard near Santa Barbara, CA. While Binske cannabis-infused olive oil is available in other markets including Colorado, those states offer 100mg while Florida’s patients have exclusive access to the 300mg tincture.”
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 a new-to-Florida product line: Binske cannabis-infused olive oil tinctures.
The stock has suffered a bit of late, with shares of TCNNF taking a hit in recent action, down about -14% over the past week. Moreover, the stock has registered increased average transaction volume recently, with the past month seeing a bit less than 240% beyond what we have been seeing over the larger time frame.
“Trulieve is focused on delivering an exceptional and differentiated customer experience, and that includes offering the broadest selection of high-quality cannabis products,” said Kim Rivers, CEO, Trulieve. “By exclusively offering Binske cannabis-infused olive oil tinctures across our Florida dispensaries, and through our in-store pick up and at-home delivery service, we are empowering customers with even more choices when it comes to selecting the product that best meets their medical needs and personal preferences.”
Earning a current market cap value of $374M, TCNNF has a significant war chest ($41.1M) of cash on the books, which compares with 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%. 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.