Trulieve Cannabis Corp. (TCNNF) is a company that has been on the stock market for over two years, and it’s finally ready to deliver big gains to investors.
Trulieve Cannabis Corp is a company that has been on the market for less than a year. However, it has already made large gains to investors. Read more in detail here: who owns trulieve.
What Does Trulieve Stock’s Future Hold?
Prior to 2021, Trulieve Cannabis Corp (CNSX:TRUL, OTCMKTS:TCNNF) was not a marijuana company on my radar. But, thanks to the company’s business development and rising revenue, TCNNF stock has really converted me into a believer this year.
But, as usual, the fundamental issue is: Is Trulieve stock a solid long-term buy-and-hold marijuana stock? Is it also capable of competing with some of the industry’s other big hitters?
The answer, in my opinion, is a resounding yes.
TCNNF stock has slipped under a lot of people’s radars, which is exactly what you want when investing.
Trulieve reported sales of $215.1 million in its most recent quarterly report, up 11% from the prior quarter. (Source: Trulieve Cannabis Corp, “Trulieve Reports Record Second Quarter 2021 Earnings and Expansion into New Markets,” August 12, 2021.)
Harvest Health & Recreation Inc. was also recently acquired by the business (CNSX: HARV, OTCMKTS:HRVSF). This is one of the largest marijuana purchases ever disclosed in the United States.
Trulieve Cannabis Corp’s income will almost certainly increase as a result of the purchase, and more cash will be available to assist the business continue its nationwide growth.
This follows Trulieve’s recent purchase of a recreational marijuana store in Worcester, MA from Nature’s Remedy of Massachusetts, Inc. (Source: Cannabis Investing News, June 30, 2021, “Trulieve Completes Acquisition of Marijuana Retail License for Dispensary Location in Worcester, Massachusetts.”)
Trulieve’s footprint in Central Florida has also grown. (Source: Trulieve Cannabis Corp, “Trulieve Expands Access to Medical Cannabis in Central Florida With New Winter Park Location,” June 23, 2021.)
The business announced the launch of its 99th and 100th dispensaries in the United States, both in Florida, in late August. (Source: Trulieve Cannabis Corp, “Trulieve Announces Opening of 100th Dispensary in United States,” August 25, 2021.)
Trulieve’s commitment to growing its U.S. and international presence is precisely what I look for in a top marijuana company.
Curaleaf Holdings Inc (CNSX:CURA, OTCMKTS:CURLF), a long-time favorite of mine, takes a similar strategy, which has paid off handsomely for CURLF stock.
Curaleaf Holdings Inc and Trulieve Cannabis Corp have another thing in common: they’re both on track to surpass $1.0 billion in sales in 2021.
Even without COVID-19 causing havoc on supply chains, that’s a remarkable achievement. All of this amid a worldwide epidemic is really remarkable.
StockCharts.com provided the chart.
All of this positive news arrives at an ideal moment for investors: Trulieve Cannabis Corp is on the rise.
Whereas Trulieve stock has only experienced increases previously, a few months of negative movement (see chart above) indicates that there was a period of unbridled excitement, which has happened before in the marijuana sector.
However, as in the past, such negative movements often precede even greater increases as investors recover trust in the company or, better still, see the new lower price as a bargain.
Dear Sir or Madam, That, I think, is what’s going on with Trulieve Cannabis Corp right now.
TCNNF stock is now trading in a highly appealing price range after giving up some of its gains after over 200 percent rise in March. Trulieve stock is still up around 50%, and it just went back up by approximately 20% in September.
To put it another way, TCNNF stock is gaining momentum once again. And I have every reason to think that the stock of Trulieve will reclaim its all-time highs in the near future.
That’s because the market is eager for marijuana stocks from businesses with aggressive acquisition plans in the United States, particularly as more states legalize the drug.
If Trulieve Cannabis Corp is on track, I don’t see why it can’t one day challenge the other top marijuana companies in the United States for supremacy.
TCNNF stock has the ambition, solid fundamentals, capital, and wisdom to become a winner in the US marijuana industry, based on what I’ve observed thus far.
And the more Trulieve Cannabis Corp expands, the more likely it is to expand even more if federal marijuana legalization occurs in the United States.
I’ve written a lot on the probability (or unlikelihood) of federal marijuana legalization in the United States in the near future, but the truth is that it will happen eventually; it’s just a matter of time.
And one advantage of Trulieve stock is that it may continue to rise in the interim as more states legalize marijuana.
Furthermore, as customers transition away from the illegal market and toward the legal marijuana industry, growth will spill over from marketplaces throughout the United States, benefiting companies like Trulieve Cannabis Corp, which has a significant presence in the United States.
Expert Opinion
With the U.S. marijuana market’s bright future, it’s only natural that one of the industry’s major players would have a bright future as well.
I see no reason why TCNNF stock shouldn’t be regarded one of the best marijuana companies, given its strong financials, ambitious acquisitions, and smart growth plan throughout the United States.
Trulieve Cannabis Corp. (OTC: TCNNF) is a company that has been on the market for about two years and is currently trading at $3.33 per share. The company’s stock forecast shows that the company will be able to deliver big gains to investors in 2018. Reference: trulieve stock forecast.
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