Traders may benefit from taking note of the fact that Trulieve Cannabis Corp (OTCMKTS:TCNNF) just announced the opening of its latest Florida dispensary. Starting on Thursday, August 20th, Longwood will be home to the Company’s 58th dispensary nationwide and 56th in Florida. It will be the Company’s first dispensary in Seminole County.
According to the release, situated in the southwest corner of Longwood, the dispensary supports Trulieve’s goal of expanding and ensuring direct, reliable patient access to medical cannabis across its homestate of Florida. It also joins the Company’s 55 other dispensaries statewide, including several throughout nearby Orlando.
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 the opening of its latest Florida dispensary. Starting on Thursday, August 20th, Longwood will be home to the Company’s 58th dispensary nationwide and 56th in Florida. It will be the Company’s first dispensary in Seminole County.
The chart shows 47% piled on for shareholders of the stock during the trailing month. In addition, the company has seen a growing influx of trading interest, with the stock’s recent average trading volume running 170% above the average volume levels in play in this stock over the longer term.
“We’re constantly looking for ways to better serve our patients in Florida, and providing continued focus on expanding access statewide is a major part of that. Opening our first Trulieve location in Seminole County allows us to better connect with our Trulievers and deliver the customer experience and quality products they have come to rely on. We’re thankful to our incredible Truliever community for their continued support to make this possible,” said Trulieve CEO Kim Rivers. “At our core is compassionate care for all and we’re looking forward to continuing to provide that to Florida’s patients for years to come.”
At this time, carrying a capital value in the market of $953M, TCNNF has a significant war chest ($204.7M) of cash on the books, which is balanced by about $136.3M 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 $495.1M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 115.9%. 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.