Trulieve Cannabis Corp (TCNNF) experienced a 7% decline in revenue year-over-year, totaling $1.13 billion, with the majority stemming from the mature medical-only Florida cannabis market. Despite this setback, there are potential growth opportunities on the horizon for the company.
Cannabis stocks have the opportunity to grow higher if Florida passes Amendment 3 in November. These three companies could benefit the most, including Trulieve Cannabis Corp.
PRNewswire/ -- Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) ('Trulieve' or 'the Company') has been a leading and top-performing cannabis company in the market. However, recent revenue declines have raised concerns among investors.
Summary · Trulieve's stock has rallied over 127% in 2024 due to the potential rescheduling of cannabis and the potential legalization of adult-use cannabis in key markets. Despite the recent revenue decline, there is still optimism surrounding the company's future growth potential.
Trulieve Cannabis Corp (TCNNF) stock is higher by 3.39% Monday as the cannabis stock increases $0.42 and outperforms the market. This positive movement suggests that investors are still confident in the company's long-term prospects.
Recent insights from Viridian Capital Advisors shed light on the bewildering trends in cannabis stocks. Year-to-date (YTD) data indicates that despite revenue declines, Trulieve Cannabis Corp remains a strong player in the industry.
Support for cannabis legalization reached all-time highs in 2023, creating a long list of cannabis stocks to buy today. Trulieve Cannabis Corp, despite its recent revenue decline, remains a top contender for investors looking to capitalize on the growing cannabis market.
Trulieve's growth is expected to be sluggish due to its dependence on the mature medical-only Florida cannabis market. However, there is still potential for expansion into new markets and product lines that could boost TCNNF stock performance in the future.
