The progressive efforts and legalization of cannabis have been a struggle in North America. Unlike Canada, the United States still has a long way to go when it comes to the legalization of cannabis in the remaining states. What’s interesting is that despite struggling market conditions, the rapid profitability of cannabis products always manages to surprise investors in the market.
In fact, pot growers in the US that operate in a strict legal market are able to render high revenue streams and high-profit margins. It shouldn’t come as a surprise that cannabis companies operate in a highly volatile market. And this shouldn’t dissuade investors to buy or invest in cannabis stocks.
Today, the cannabis industry consists of companies that engage in the research, distribution, sale, and development of recreational and medical marijuana. In 2022, there is more acceptance of cannabis use. With the advent of legalization, the mainstream adoption of cannabis products is inevitable. And this is where players like Trulieve Cannabis come into the picture.
Trulieve Cannabis is an integrated vertical cannabis corporation with multi-state state-of-the-art operations. As of 2022, the company operates in 11 different states and leads the market share in Florida, Pennsylvania, and Arizona. Trulieve specialized in a wide range of products and continues to maintain its high exposure in the cannabis industry.
The focus of this article is to shed the light on the historical and current stock performance of Trulieve Cannabis and its fairs as compared to other cannabis stocks in the market.
Trulieve Cannabis Statistical Overview
Trulieve Cannabis Stock Forecast 2022
Currently, Trulieve runs major cannabis brands like Cultivar Collection, Blue River, Sweet Talk, Momenta, Musa, and Trulieve Core. In fact, the expansion and diversification of Trulieve’s product portfolio have had a positive impact on its stock.
On 15 February 2022, Trulieve manages to acquire a cultivation facility that spans around 64,000 square feet and would be ideal for expansion. On the other downside, shares of TCNNF, the US-based and Canadian-traded company, have lost up to 50% of its market value in a single year.
Like other major cannabis players, Trulieve has been struggling to maintain its cannabis position. Several technical analyses and long-term forecasts of the TCNNF are not too optimistic. Still, the large-scale cannabis production and distribution of Trulieve had it one of the most influential companies in the market.
The fact of the matter is that events, rewards, and achievements matter the most for cannabis production and distribution companies. On April 28, 2022, Kim Rivers, CEO of Trulieve won the Women’s Leadership Award that ultimately worked in favor of the company. In fact, Rivers has been at the forefront of strategically, legally, and ethically expanding the cannabis operations of Trulieve.
Since the announcement of the award, there has been a positive impact on Trulieve’s stock price in the market. As of May 2022, the stock price of Trulieve Cannabis stands at $15.16 with a 0.41% upward increase. Unlike other cannabis companies, Trulieve had solid foundational roots.
In fact, in no time, TCNNF managed to grow from a small-time medical-based cannabis agency to owning over 160 dispensaries across the United States. The consistent expansion plans continue to help Trulieve put its brand on the cannabis market and strengthen its already robust position.
While the stock levels of TCNNF have had several ups and downs, the company still earns record-high quarterly earnings. By the end of Q4 2022, the adjusted EBITDA of Trulieve can be as high as $500 billion with an annual revenue stream of $1.4 billion
As of May 13, 2022, TCNNF stock has had the most potential to render high returns with 264% upside growth. Of course, there is a long list of marijuana stocks available in the market, but the high valuation of TCNNF stocks makes it one of the most sought cannabis investments.
Trulieve Cannabis Stock 2021
In 2022, Trulieve’s EBITDA came down to $384 million as opposed to $260 million in the previous year. In a single year, the adjusted net income of the company had jumped to 2% with an 80% annual revenue increase. With a heightened performance, 2021 became one of the most defining years for Trulieve.
On March 15, 2021, Trulieve Cannabis crossed the threshold of its highest stock price of $53.73. Although small profit margins and revenue jumps are possible, Trulieve had managed to regain and strengthen its stock value 16 times straight.
Stock market experts and analysts believe that the secret of the company lies in its ability to strategically allocate capital. It is no wonder most consensus ratings recommend “buy” TCNNF stock. In 2021, optimization of operations, bigger expansion plans, and consistent acquisition became “the” strategy for Trulieve Cannabis.
Conversely, there were some acquired companies that were unprofitable and diluted the revenue stream and net income of Trulieve. But overall, the company has been great at expanding through consistent acquisitions. For starters, Harvest Health serves as a great new addition to TCNNF’s dominance in Sunshine State.
Although Trulieve is going through short-term problems that drop its stock levels and slows down revenue growth, its acquisition plans strengthen its market position, render more profitability, and gradually increase its stock prices in the United States.
Trulieve Cannabis Stock 2020
Whether you realize it or not, Trulieve continues to build its market presence in Florida and Maryland. In fact, the company is rapidly growing ground in West Virginia, Arizona, and Pennsylvania. These significant investments allow Trulieve to gain more market share in key states and bump up the stock price.
In some instances, Trulieve has made many ambitious and progressive announcements for its future plans that had had a positive impact on its stock levels. In the Northeast, Southeast, and Southwest, Trulieve consistently looks for opportunities to acquire small cannabis entities. This was a strategic initiative that Trulieve started back in 2020.
But the truth is that Trulieve still hasn’t stopped searching and acquiring small cannabis businesses that can bring more value to Trulieve Cannabis. Remember, small operators tend to have a small footprint and Trulieve has been successfully capitalizing on the financial strength of acquired small cannabis companies to create more windows of opportunities.
Of course, it is disappointing that TCNFF stock closed at just $14.51 on May 17, 2020. But top analysts still decided to rank TCNFF stock higher because of their continued effort to make more partnerships and acquisitions with small cannabis firms. Ultimately, a combination of acquisitions and partnerships made it possible for TCNFF to hit a year-long highest stock price of $33.45 per share.
Trulieve Cannabis Stock 2018-19
On September 23, 2018, Trulieve Cannabis went public and immediately managed to capture the interest of cannabis investors. On 16 December 2018, the stock price of Trulieve Cannabis fell to $6.68, which was the lowest stock value of the company at the time. Like 2018, the growth parameters of Trulieve Cannabis were limited throughout 2019.
Of course, after strategic changes and acquisitions, Trulieve Cannabis started to head in the right direction. But the starting journey for the cannabis player was chaotic. In 2019, the stock prices of Trulieve continued to underperform in the market. This, in turn, startled a lot of investors who were ready to make long-term investments in Trulieve Cannabis.
How to Invest in Trulieve Cannabis Stocks?
Like other industries, investors need to keep an eye on changing market dynamics of the cannabis industry. For instance, with the advent of new tech innovations, many cannabis players have been able to improve their supply chain and logistics processes.
Since cannabis stocks offer high returns on investments, it is better for most investors to have a short-term and long-term strategy. However, the majority of investors follow a short-term approach to buy or invest in different cannabis stocks available in the market.
Despite the number of investments you plan to make, it is crucial to perform extensive research about the cannabis stock you want to buy. In addition, investors should also take a closer look at the risk analysis, future outlook, and comparative analysis of a cannabis stock like Trulieve.
Unlike many other cannabis players in the market that are struggling to survive, Trulieve has had significant growth and still has the potential to gain more position in the market. As far as cannabis stocks go, Trulieve stands as one of the best investments you can make in 2022.
Cannabis stocks boil down to performance parameters and Trulive’s major strength is how to regain its stock strength and value in the market. Whether you want short-term or long-term gains, buying or investing in Trulieve is bound to render a high ROI.
On top of dramatic market trends, market caps around cannabis stocks are low. But despite the below-average performance of cannabis stocks at the start of 2021 that startled a lot of investors, there is more drive in demand for cannabis products.
Where to Buy Trulieve Cannabis Stock?
Once you decide to invest in one of your preferred cannabis stocks, you can use a proper online broker solution. On the surface, it may sound too complicated to navigate an online broker platform. However, the use cases and integrated features of an online broker tool like eToro are simplified.
One of the hallmark aspects of eToro is that it facilitates different types of investors that want to use the solution for specific purposes. So, instead of opting for a complicated online broker platform, seek out a tested online broker solution like eToro that continues to increase its mainstream adoption.
With eToro, investors would be able to make more strategic, calculated, and logical cannabis investments. Many investors use eToro for built-in features and convenience to make real-time investment decisions. Whether it’s a search feature or swift order placement, eToro offers a compact and flawless stock investment experience to inventors.
Here are the five key steps you can follow to start investing in Trulieve Cannabis stocks:
Step 1: Open an Account
Opening and using a dedicated eToro account should be a walk in the park for new and experienced investors. You just need to fill out the application form’s information to get access to your new account.
Step 2: Upload ID
After making a new eToro account, now investors have to upload a proper identification like the utility bill, passport, or driver’s license. However, make sure the ID you upload is up-to-date and accurate.
Step 3: Make a Deposit
Prior to investment, investors have to add some funds into their eToro account. Before you can buy or invest in Turlieve’s stock, you will first have to add some funds into your new eToro account.
You can use your PayPal account or debit/credit card to deposit specific funds. You can also make a bank wire transfer to add funds to your eToro account.
Step 4: Search for Trulieve Cannabis Stock
The last step is to make the most out of your added funds and invest in the most attractive cannabis stocks. If you want to buy or invest in Trulieve Cannabis stocks, click on “trade” in order to process the order.
As an investor, you should also take advantage of the trading ticket feature on eToro that allows you to set specific profit and stop loss levels beforehand.
Step 5: Buy Trulieve Cannabis Stock
It is true – cannabis stocks have been slumping for the past three quarters. But many investors believe Trulieve can become a great investment bargain in the coming years. After the legalization of cannabis stalled in 2021, cannabis stocks saw a significant decline in the market.
But market observers and experts now hint that there is an unprecedented opportunity for Trulieve Cannabis to become one of the best cannabis players in the market. More and more investors have started to understand that Trulieve Cannabis continues to maintain its 50% market share in Florida.
In fact, Trulieve Cannabis’ operations in Sunshine State have been continuously profitable for the past four years. The acquisition of HRVSF or Harvest Health and Recreation would help Trulieve expand and strengthen its market position in different states. This seems to be the best strategy for Trulieve to become one of the most profitable cannabis businesses across the country.
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