When it comes to cannabis in Florida, Trulieve is the company that comes to mind. Sign-up to receive special offers, promotions, and insight from Trulieve.

All of these factors could be negative catalysts for Trulieve Cannabis. While the idea of adding adult-use sales to the mix probably sounds amazing, it might be just the opposite for Trulieve, which has focused all of its efforts on building up its brand with medical cannabis patients. She holds a bachelor’s degree in business management, specializing in finance, and also a CFA Level 2 candidate. That said, Trulieve is outperforming its Canadian peers, and it has strong fundamentals and footing in Florida from which to expand into other states. Please note: when changing your settings, your cart will be cleared. What worries me is Trulieve's dependence on a single market: medical marijuana. However, vertically integrated multistate operator (MSO) Trulieve Cannabis (OTC:TCNN.F) was an exception to the rule. Trulieve can ill afford to lose market share in its core market. Market data powered by FactSet and Web Financial Group. The company said COVID-19 didn't have much of an impact on its operations -- an especially positive sign compared with its peer MedMen, which is suffering from a cash crunch this year. I believe it's also worthwhile to discuss Trulieve's valuation, which is another selling point of this pot stock. Trulieve Cannabis (OTC: TCNNF) is venturing quite some distance from its home base of Florida with its latest acquisitions.

Florida legalized medical cannabis in 2016, and since then the market has been outstanding for medical marijuana. This year, despite the lockdown, cannabis demand has seen an all-time high, hinting at the popularity of the product.

Medical cannabis also proves to be an alternate option for many wanting to shift from conventional medicines. 3 Reasons Why It's the Right Time to Buy Trulieve Cannabis Its dominance in one state and staggering growth from just medical cannabis show its potential to thrive, but there could be some risk. MedMen now has three stores open in the state. Whereas the company has put most of its eggs in one basket, focusing on one of the most lucrative weed markets in the world has also been responsible for allowing Trulieve Cannabis to keep its expenses down. That's an increase of 38% over the previous week, and much higher than the average of 22,800 ounces of smokable flower sold per week in the first 10 weeks of 2020. Buy These 2 High-Growth Pot Stocks Instead. Sales Are Set to Soar for These 3 Stocks. Trulieve's revenue growth is no doubt staggering, and medical cannabis demand is unlikely to plummet anytime soon. This would put Florida behind only Colorado and California in terms of annual sales four years from now. Recreational legalization in the Sunshine State would require Trulieve to completely reestablish its market share, which wouldn't be an easy task in a highly competitive state.

And they have business in both the medical and recreational arenas. ©2018 – 2020 Trulieve - All Rights Reserved.ToolStudios Design & EngineeringTerms & ConditionsPrivacy PolicyADA Compliance. The lockdown made it hard for activists to collect enough signatures to make recreational legalization proposals qualify for the state's November 2020 ballot. That said, Trulieve is outperforming its Canadian peers, and it has strong fundamentals and footing in Florida from which to expand into other states. Shares of Trulieve are up 6% year to date, while rivals Aurora Cannabis and Canopy Growth are down 52% and 23.3%, respectively. Following an incredible first quarter, most pot stocks spent the rest of 2019 in a precipitous downtrend.

At this time last year, cannabis stocks appeared primed to push toward profitability. And, of course, there's the recent short-seller report from Grizzly Research alleging multiple layers of fraud, which the company has denied. Let's conquer your financial goals together...faster. Right now, the medical cannabis space is one of the very few markets that has vast opportunities to grow, owing to the numerous health benefits it provides.

Florida medical cannabis sales surged during the pandemic, with 36,400 ounces of cannabis flower sold during the seven days beginning March 13.

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