TRULIEVE CANNABIS CORP

With the potential legalization of adult-use marijuana under Amendment 3, Florida's cannabis market is set for a significant transformation. Florida's legal cannabis spending is projected to grow at a 12% CAGR from 2023 to 2028, with total sales expected to reach $4.5 billion by 2028, positioning Florida as the second-largest U.S. cannabis market after California. Competitive Landscape And Consumer Behavior Florida's retail cannabis landscape has already shown significant growth, with the number of dispensaries rising to 628 by April 2024, as per BDSA data.  The state's medical cannabis sector remains robust, with patient numbers surpassing 878,000 this month and sales reaching $2.6 billion in 2023, marking an 18% increase from the previous year. As Florida prepares for a November ballot initiative on adult-use legalization, BDSA analyst ...Full story available on Benzinga.com

Related tickers: TCNNF.

Recent insights from Viridian Capital Advisors shed light on the bewildering trends in cannabis stocks. Year-to-date (YTD) data indicates that U.S. multi-state operators (MSOs) and Canadian licensed producers (LPs) have experienced drastically different fates. At a glance, U.S. MSOs show an average return of 26.4%, towering over Canadian LPs' modest 1.3%. However, this picture is deceiving. If we remove the outliers—Trulieve Cannabis (OTC: TCNNF), which saw significant gains, and Tilray Brands (NASDAQ: TLRY), which experienced sharp declines—the true performance is closer: MSOs at 16.79% and LPs at 25.97%. Market Irrationality According to Viridian, these fluctuations suggest an irrational market behavior. Before 4/20 a few Canadian stocks rose by more than 50% YTD. The volatility reflects not just company performance but broader economic factors like regulatory changes and market speculation. Full story available on Benzinga.com

Related tickers: TLRY, TCNNF.