Trulieve is the perfect example of why you need to keep your eyes on the prize…
Investing is like a roller coaster ride…
When prices are climbing, you feel like you’re skyrocketing past the clouds and heading to the moon.
But a quick jolt sends you back to earth and ties your stomach up in knots.
Those jolts downward are unnerving and can make you feel panic stricken, just like when a stock price drops. But if it’s a company you believe in and you stick it out, you’re going to be rewarded at the end of the ride.
That’s why I want you to look at this Trulieve Cannabis Corp. (OTC: TCNNF) stock price chart from the past year.
Source: National Institute for Cannabis Investors
As you can see, there have been ups and downs.
For that first green arrow, the stock price was trading at $25.06 on August 14, 2020. That first red arrow is on September 24, 2020, when the stock price traded at $17.02, representing a 32% loss.
But those who stuck with it were rewarded.
Because by January 13, it had climbed to $45.23, a gain of 165% from when it was trading for $17.02.
And we have seen that same action playing out over the last few months, with the stock price reaching new highs, then having a bit of a dip. That’s why it’s important to take a step back from time to time.
By looking at this chart over the past year, it gives you the bigger picture.
Because with so much going right for Trulieve, this is not the time to get off the ride. Let me show you…
After Dominating Florida, Trulieve Is Ready for the Rest of America
There is so much to like about Trulieve right now.
For starters, it accounts for roughly 50% of all the cannabis sold in Florida. Even being a medical-only state right now, Florida sold $1 billion worth of cannabis in 2020.
With the most dispensaries around the state at 81 locations, as soon as Florida legalizes recreational cannabis, watch out.
The Trulieve cash registers will be bursting even more at the seams.
What’s also underrated right now but will pay off down the road is Trulieve’s move into West Virginia.
While it may be a smaller market, you can still make a great living being the biggest fish in a smaller pond. It has two dispensary licenses for Morgantown, the home of West Virginia University and its 28,000 students.
Then you have Trulieve’s expansion into Pennsylvania.
For a combined price of $66 million, Trulieve bought PurePenn in September, a cultivation and processing company, as well as three Pittsburgh area dispensaries from Keystone Relief Centers.
This massive cultivation and processing facility – paired with vital market access to the Philadelphia and Pittsburgh metro areas – establishes Trulieve as one of the largest vertically integrated cannabis operators in the state.
A state that could legalize recreational sales in 2021.
So even if the stock price is in a bit of a lull, which could be a combination of early investors taking profits, people selling some of their stocks to buy cryptocurrencies, and the Biden administration not moving as fast on reforming cannabis policies as fast as some may have hoped…
We’re holding strong because there is so much positive momentum ahead for Trulieve.
It’s one of stocks in the NICI Membership model portfolio leading the way to deliver shareholders the biggest potential gains over the next two years.
Find out how you can access all those stock recommendations right here.
Stay on the ride.
All the best,
Partner, RADD Capital
11 responses to “Cannabis Stocks Might Feel Like a Roller Coaster Right Now, But This Is Not the Time to Get Off the Ride. Here’s Why.”
April 27 2021