Trulieve Cannabis Corp (OTC: TCNNF) shares have fallen 29.25% since the beginning of the year.
The Trulieve Analyst
Cantor Fitzgerald’s Pablo Zuanic reiterated an Overweight on Trulieve with a $30 price target.
The Trulieve Investment Thesis
COVID-19 has impacted industry sales volumes in Florida, which have grown 40% week over week, with Trulieve experiencing a 50% increase in flower volumes, Zuanic said in a Wednesday note. (See his track record here.)
Before Tuesday’s revival, U.S. marijuana stocks were down 45% in the last month, while SPX was down 25%, the analyst said.
“We think that created a great investment opportunity with the well-capitalized and well-structured MSOs, given the sector’s resilience (i.e. business up during this COVID-19 crisis).”
U.S MSOs are even in a better position …