Trulieve: Best Marijuana Stock for 2020
Most marijuana stocks are down 50-90% in the past twelve months but the cannabis industry continues to gain momentum in 2020. With increasing demand and legalization growing on a global scale – there’s plenty of great opportunities abound – if you know where to look. After researching the fundamentals of hundreds of marijuana stock investment opportunities, our analysts believe the Trulieve is the best marijuana stock for 2020.
Why is Trulieve the Best Marijuana Stock for 2020?
Trulieve Cannabis Corp. (OTC: TCNNF) has a very strong position in Florida, the third-largest US medical cannabis market. They have 43 dispensaries, produce 30,000 kgs per year, and, based on Q4 2018, are currently on a revenue pace of more than $200 million per year.
They plan to also expand their growing capacity in Florida though they have not specified how much. But they have bought businesses in MA and CA — and the one in MA has enough grow space to boost their output to 45,000 kgs per year in the coming few years. This should increase their revenue by 50%, taking them close to $300 million in revenue.
This looks like a strong plan to increase revenue growth for the company. The question is, is this revenue already priced into their stock? Or will the stock price grow as revenue grows?
By our calculations, the company has a price to sales ratio of 4.3 —about the average in the tobacco industry. This is a great sign for them and shows any revenue growth should drive the stock price higher.
They maintain over 50% market share in Florida, have over 500% revenue growth year over year, and have 300+ SKU’s. All this means fantastic growth is ahead. Combine this with the fact they gave back a lot of momentum in 2019 and 2020 should be a perfect year to gain it all back, and more
For investors who don’t mind waiting a year for a solid return, we think Trulieve at its current price presents an excellent opportunity for long-term gain especially with some COVID recovery priced in!
About Trulieve
Trulieve Cannabis Corp. engages in the production of cannabis products. The company cultivates and produces its products in-house and distributes cannabis products to its branded stores, as well as directly to patients via home delivery. Its products include smokable flower, inhalation, oral, sublingual, topical, inter-nasal, and concentrates. The company was founded on September 21, 2018, and is headquartered in Quincy, FL
Trulieve: Best Marijuana Stock for 2020
About Cannin: Your Marijuana Investment Experts
Cannin is your trusted resource for information about marijuana and hemp stock investment opportunities. Our global team of experts evaluates all emerging marijuana and hemp stock investing opportunities. We aggregate hundreds of hours of research and provide tips on the best marijuana and hemp stock investments for 2020. We provide the latest marijuana investment and hemp investment news and analysis.
Use Cannin as your resource for breaking cannabis and hemp investing news, featured cannabis and hemp company analysis, comprehensive cannabis and hemp stock reports, or get your free trial now and use our Smart Stock Algorithm to take the guesswork out of profiting from the cannabis industry. Is it too late to invest in marijuana stocks or hemp stocks?
Market analysts expect the marijuana and hemp industry will have an annual value exceeding $75 Billion in the next decade. The time to invest in marijuana and hemp stocks is now. Are you looking to buy stock in hemp companies or marijuana companies for 2020? Interested in emerging penny hemp stock companies? Looking for the best Canadian marijuana stocks to invest in? We can help.
Predict price movements of marijuana and hemp stocks several hours in advance with our proprietary algorithmic stock trading software.
Profit from the best marijuana stocks – we’ll show you how at cannin.com