Trulieve just made another critical first-to-market move…
With a record of 58 storefronts, you can’t get in or out of Florida without bumping up against a Trulieve Cannabis Corp. (OTC: TCNNF) dispensary.
Source: Google Maps
Heck, this map almost looks like I typed in Starbucks by mistake – and gives you a sense of Trulieve’s dominant Florida position.
Here’s another clue to Trulieve’s dominance. Last week, just like every other week, Trulieve sold at least half of the 127,000-plus grams of THC sold in the state.
This year, those sales are on track to surpass $1 billion. By 2025, that number could reach $2.5 billion – and that’s factoring in medical sales only.
(Imagine what that number will look like once this state goes recreational, which can grow a market by three to five times!)
Trulieve has its arms around half of that market.
No other operator even comes close.
Now, edibles are hitting Florida shelves for the first time.
Trulieve’s First-to-Market Playbook Is Paying Off
It may come as a surprise to you that edibles are only just now hitting dispensary shelves in Florida. But you have to remember that when the state first rolled out its medical cannabis program, it didn’t allow for flower, either.
As soon as that rule changed, Trulieve got its flower products to customers before any other company. And boy, did that move paid off. Flower now accounts for 50% of Florida’s cannabis market!
Today, Trulieve is using that same playbook to become the Sunshine State’s top edibles provider.
On September 5, it became the first company to make a legal cannabis edibles sale in the state – helping Trulieve secure yet another first-to-market advantage that will virtually ensure it is the first edibles brand to capture the loyalty of customers.
These aren’t just any edibles, either.
Trulieve teamed up with major brands like Binske, District Edibles, and Love’s Oven to produce a variety of products that Florida’s medical patients have been clamoring for ever since medical cannabis became legal in the state.
The demand right out of the gate was so high that first-year edibles sales are projected to reach $250 million and could end up accounting for 20% of Florida’s cannabis market.
And with Trulieve’s iron grip on the market, I expect them to claim over 50% of those sales as well. So, right there, that gives us another $125 million in revenues for this already profitable company in just the first year.
Trulieve’s dominance is now clear for all to see.
And as Trulieve expands its dominance in Florida and the United States, you can expect to see its stock move at least five times higher from where it’s trading now.
Make sure you check out these five reasons Trulieve could be the top cannabis company in the country for more on how this company rose to power.
Executive Director, National Institute for Cannabis Investors
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September 16 2020