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Trulieve Cannabis Corp (OTCMKTS:TCNNF) Continues to Find a Fresh Bid

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It shouldn’t be overlooked that Trulieve Cannabis Corp (OTCMKTS:TCNNF) just announced that it is launching a month-long series to assist Florida residents in understanding and accessing the resources available to them during this time.

According to the release, “the TruTalks will be streamed in half hour increments with community partners and will contain information related to the social services available to all Florida residents. For the inaugural stream, Trulieve is partnering with Lutheran Social Services, a national organization with offices in Jacksonville, Florida. Lutheran Social Services of Northeast Florida (LSSNF) operates four distinct community outreach programs with the overall goal “to help those facing hardships stabilize their lives and earn a fresh start.”

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 is launching a month-long series to assist Florida residents in understanding and accessing the resources available to them during this time.

Recent action has seen 5% added to share values of the listing over the past week of action. Moreover, the stock has benefitted from a jump in recent trading volume to the tune of 27% above its longer-run average levels.

“Over the past four years, we’ve grown from one store to 45 throughout the State of Florida, and we wouldn’t be able to do that without the support of the communities we become a part of,” said Kim Rivers, CEO of Trulieve. “From the beginning, one of our driving goals as a company has been to increase and deliver accessibility to Florida’s patients. The current COVID-19 pandemic has been devastating to so many; not just to our Trulievers, but to the communities we are fortunate to call home. We feel honored that we can use our platform to help our fellow Floridians find, access, and understand the resources available to them and are thankful to our long-term community partners in helping us do so.”

Earning a current market cap value of $335M, TCNNF has a significant war chest ($41.1M) of cash on the books, which is balanced by 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%. This is an exciting story, and we look forward to a follow-up chapter as events 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.

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