Trulieve Analyst Highlights 50% Volume Jump Sparked By Pandemic Shopping

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 …

Full story available on Benzinga.com

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