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Safe Banking bill seems to be a fall back position. At least getting that through would be a start. https://www.marijuanamoment.net/another-top-democratic-senator-joins-new-marijuana-legalization-bill-but-says-banking-reform-must-still-pass-asap/
Pretty much a dead board until we get some news.
Other news. https://www.marijuanamoment.net/schumer-commits-to-bipartisan-work-to-pass-marijuana-reform-this-year-after-legalization-bill-unveiled/
We may have some up and down movement until legislation becomes a fairly certain thing. It is not going to happen in a week or two. Meanwhile TCNNF earnings will be coming out within the next few weeks and we are likely to see great revenue and earnings growth. With all that is going on, I think we probably hit a bottom a few weeks ago. The stock is up over 15% in the last few days. I told you it would go up if legislation hit the senate.
The stock closed at $11.86 on (7/19) and closed today (7/21) at $13.69. So up 15.4% in two days. I'm not aware of anything happening with TCNNF other than a few dispensary openings. Hmmm.
I think we see again a ramp up of revenue etc. I can't keep up with the number of dispensaries they are opening.
We'll see where the stock goes before next week.
From what I'm reading the MJ bill will drop next tuesday probably.
It's about time for TCNNF to announce when the 2nd quarter results will be provided.
Yawn...
I'll take today's trading as a win. Pretty decent volume even if it did tank in the last few minutes.
The Senate Judiciary Subcommittee on Criminal Justice and Counterterrorism, chaired by Sen. Cory Booker (D-NJ), has scheduled a hearing on federal marijuana reform next Tuesday—likely to closely coincide with the introduction of a much-anticipated federal legalization bill he’s sponsoring with Majority Leader Chuck Schumer (D-NY) and Sen. Ron Wyden (D-OR).
I am hoping reality has set in and they know they won't get the sky. I do believe there is a way forward for Safe Banking or something similar. With Biden mentioning the other day about some pardons, that would take that part out of any bill. So wait, you think it was the news of something possibly happening that moved the stock up over 10% in two days. I don't know if the Bollinger Band, RSI folks will see it that way. :)
Must be some news of legislation coming tomorrow. Stock up to 12.70 +0.63 (+5.22%) At close: 03:59PM EDT Market was up 2%.
At least there is some talk. Now we need action. I do think Safe Banking would pass. https://www.washingtontimes.com/news/2022/jul/19/democrats-see-opening-squeeze-marijuana-legislatio/
This could take out a sticking point with legislation and maybe SAFE will be easier to pass.
https://www.marijuanamoment.net/biden-says-hes-working-on-fulfilling-marijuana-campaign-pledge-to-free-prisoners/
If information being circulated is correct, the democrats should be putting forth some mj legislation over the next two weeks. Where will this take the price ?
Predictions from more of those crazy analysts. :) https://www.etfdailynews.com/2022/07/17/trulieve-cannabis-corp-otcmktstcnnf-given-average-recommendation-of-buy-by-analysts/
From FL Statute: Low-THC cannabis is defined as “a plant of the genus Cannabis the dried flowers of which contain .8 percent or less of tetrahydrocannabinol (THC) and more than 10 percent of cannabidiol weight for weight.” The definition includes extracted resin and any compound, manufacture, salt, derivative, mixture, or preparation of such a plant. In order to meet the definition low-THC cannabis must also be dispensed only from a dispensing organization.
The day isn't over just yet.
I hear ya. The Senate does seem to be ineffective at getting things done. As long as it takes 60 votes things will be tough to get through. That's why I see a better route is an incremental approach.
https://finance.yahoo.com/news/takes-become-stay-big-player-194512078.html
TCNNF Closed up +1.08 +9.53% in a market that was down 142 pts. I don't know, did someone get a signal via the Bollinger Bands, RSI, or something ? Nope, it was the Senate and House news. I think my point has been made.
This is what I said a few weeks ago. The stock has been up today around $1.00. https://www.marijuanamoment.net/senate-marijuana-legalization-bill-could-come-next-week-but-congressional-sources-push-back-on-report-about-timeline/
On Trulieve site. New dispensary coming soon to 3301 Easton Ave Bethlehem, PA 18020
Let's see. The stock is up .92 on a market that is 400-500 pts down. There has to be some news out there. Don't know if the House passing the Marijuana stuff the other day was the reason, but I know it wasn't the charts.
I also think we will have record revenue reporting in Aug.
As reported yesterday. House Approves Marijuana And Psychedelics Amendments As Part Of Must-Pass Defense Bill.
We'll see what the Senate does with this one.
Don't think I've been too far off on revenue.
Well you might want to tell these analysts making these projections they are wrong.
I'm not an analyst, but my WAG's are as good as these.
High
$95.99
Median
$46.76
Low
$16.98
Average
$46.56
Current Price
$11.33
:)
All of this prediction stuff is a joke. Nobody knows where stocks are headed. If they did they wouldn't be on this board, they'd be vacationing in the bahamas or somewhere drinking margaritas.
Short timers don't really have a grasp of the market. They haven't been around long enough to have lived through the ups and downs. IMO this is the worst time to sell, unless you need the money for an emergency or something. I've waited this type of market out many times over the years and the market keeps going up over the long term. So I'm not worried about all the noise right now. I don't like the stock being down like it is, but the story hasn't really changed IMO.
Another outstanding sales week.
106,365,084 mgs thc
1,501,941 mgs low thc
40,676.891 oz smokeable
And this is only FL.
This pretty much says what's happening. I think it's all part of the positioning of the company for when legislation happens. IMO. I don't think insiders will be selling at these levels.
However, the registration of the securities covered by the Registration Statement does not necessarily indicate that the Company and/or Selling Shareholders will offer or sell any Subordinate Voting Shares in connection with such registration or within any specific timeframe.