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With yet another earnings season ahead, Cantor Fitzgerald's analyst Pablo Zuanic proffered some insight into what to expect from one of the largest cannabis MSOs in the U.S. in the upcoming third quarter.
Trulieve Cannabis Corp.'s (OTC:TCNNF) earnings update is scheduled to hit the wire in early November. The Tallahassee-based company earlier pointed to a 4% drop to a 4% HoH sales increase for the second half of fiscal 2022.
However, Zuanic expects sales to drop between 5% to 10% in the third quarter.
"Trulieve, like other MSOs, is pointing to Sep qtr trends running below what may have been highlighted in the 2Q call in early Aug," he said.
So we'll see if Mr. Zuanic's prediction pans out.
I have to agree with you. Change is coming and higher prices are coming. The senate will introduce some legislation after the midterms. I think we get Safe Banking + passed and probably the Biden admin gets it rescheduled before the end of the year. IMO we are headed higher sooner rather than later.
I would think we should hear about the 3rd qtr earnings report soon.
My bet is your sell occurs before your buy.
My bet is your sell occurs before your buy.
TCNNF is showing these locations coming soon among several others in other states. The story continues.
Macon
3556 Riverside Dr, Macon, GA
Coming Soon!
Marietta
220 Cobb Parkway North, Marietta, GA
Coming Soon!
A couple of items that could propel the stock price higher after the midterms. Legislation and earnings together might have some impact.
That has NO GO written all over it.
IMO we've seen the lows forever. It's treading water for a while then depending on the Senate, BAM, we move higher.
Stock market up, TCNNF stock up. Hmmm.
TALLAHASSEE, Fla., Oct. 14, 2022 /PRNewswire/ -- Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the United States, today announced the opening of a new medical dispensary in Land O' Lakes. Located at 17704 Aprile Drive, Suite 10, the doors will open at 9 a.m. on Saturday, October 15, with ongoing regular hours of 9 a.m. – 9 p.m. from Monday through Saturday and 10 a.m. – 8 p.m. on Sunday.
The senate has signaled they are going to wait until after midterms to introduce any legislation on marijuana. I look for the stock to essentially tread water until more news. Biden put in motion some items that might help, but we still need Safe Banking as well as rescheduling, which I think happens this year.
No politician wants to give the other side ammunition regarding marijuana prior to the midterms. https://www.marijuanamoment.net/booker-is-very-hopeful-congress-will-pass-marijuana-reforms-in-lame-duck-session-following-bidens-pardons/
Rebranding in 2023..Over the course of 2023, existing Harvest locations will be rebranded to Trulieve. Harvest and Trulieve-affiliated dispensaries in Arizona are located in Avondale, Casa Grande, Chandler, Cottonwood, Glendale, Guadalupe, Lake Havasu, Mesa, Peoria, Phoenix, Scottsdale, Tempe, and Tucson.
Stifel analyst Andrew Partheniou notes yesterday’s "surprise announcement" from President Biden of three executive actions surrounding cannabis pardons and initiating a review on cannabis scheduling, calling this "the most important development in US cannabis history since the Cole Memo." The most near term impact could be passing the SAFE Act, most likely through the NDAA in the lame duck session, and as a result he sees cannabis company shares "having the potential to increase up to 3x from current levels in short order." In the longer-term, dependent on scheduling outcomes, 280E could be addressed, which he sees having the potential to improve operating cash flows by 50%-250% for companies he covers in the space, Partheniou tells investors, adding "we could be on the cusp of a secular cannabis bull market." Stocks he covers that could be beneficiaries include Cresco Labs (CRLBF), Curaleaf (CURLF), Green Thumb Industries (GTBIF), TerrAscend (TRSSF) and Trulieve Cannabis (TCNNF). Other stocks in the space include Aurora Cannabis (ACB), Canopy Growth (CGC), Cronos Group (CRON) and Tilray (TLRY).
from TipRanks article.
I think we agree. "If they keep pumping news about cannabis reform then the bleed won’t be so bad."
NEWS got us to 12 and will likely hold around this level until something is done by our legislators.
Seems like that's what I've been saying, legislation is key. I do think we get some legislation before the end of 2022. Biden signaled he's on board with some changes.
I know I'll probably get some naysayers jumping on here, but check this out : https://www.marijuanamoment.net/biden-health-secretary-has-already-talked-to-fda-about-marijuana-scheduling-review-which-will-move-quickly/
The government can act fairly quickly once given a presidential directive. And by the way IMO the charts were all screaming buy in the 8 range, way oversold and did not predict the 37% percent increase in 1 day nor the huge volume over the past two days.
FL OMMU week ending 7 Oct
85,295,007 THC medical lower than last week
1,010,988 Low THC equal to last week
39,313.914 smokable 3k oz higher than last week.
I believe it was a signal to the Senate. "Pass something and I'll sign it." Looks like we might close around 13. Great volume today. I would suspect something will happen before the end of the year, maybe even before the midterms.
WOW. So "Biden's initiative was good for a 34% rise in the exchange-traded fund focused on the U.S. multistate operators, AdvisorShares Pure US Cannabis ETF (MSOS). " Nothing like NEWS to move the stock. You can't say it was anything other than that and no one on this board predicted this rise in share price. More to come between Nov and Jan. IMO
I'll be waiting on those $5's, ha, ha. Just when you thought charts made sense, bam. I think we see $15 pretty easy here. The Biden move takes a couple of issues off the table for the senate legalization effort. Safe Banking here we come. Not investment advice.
I would say we have some more upside on this news since it came out so late in the day. But I haven't look at my charts yet. IMO this is not investment advice.
As I've been saying "News Is King" . Up 3.18 on the news. No chart predicted this my friends.
https://www.cnbc.com/2022/10/06/biden-to-pardon-all-prior-federal-offenses-of-simple-marijuana-possession-.html
Ha, Ha. Cool. Market is down this morning and stock is down. I don't see much movement until legislation or a move up in the overall market. IMO
Dow rallies more than 1,500 points in two days and TCNNF took part in that rally also. Keep watching those charts.
Market's up. TCNNF is up. Way oversold at this level IMO.
Basically after the midterm elections, none of the politicians will be concerned about what they vote for. So I think we get some movement forward regarding marijuana legislation.
New dispensary in Sierra Vista. The story continues. https://www.myheraldreview.com/news/business/cannabis-dispensary-set-to-open-in-sierra-vista-on-saturday/article_ecad15a6-4016-11ed-a434-0343db0d74b0.html
Earnings will probably be affected by the hurricane, so I wouldn't expect a huge jump in price.
Market up, TCNNF stock up. Not too hard to figure at this point. No legislation, minimal advance. TCNNF was way oversold. IMO.
Surfing before and after the hurricane was always the best. Never got out there during the middle of one.