Trulieve Cannabis Corp (OTCMKTS:TCNNF) Looks for Fresh Momentum on New Product Launch

Trulieve Cannabis Corp (OTCMKTS:TCNNF) made news in recent days by announcing the launch of Live Diamonds by Muse™. Shares of the leading cannabis player have been holding support over the few months, and this news could help to shore that pattern up. A move above $27/share in coming sessions would certainly be a welcome sight to long-term holders.

According to the company, Live Diamonds are the latest innovation from Trulieve’s state-of-the-art hydrocarbon extraction lab, the only one of its kind in the state of Florida. The initial product release of 500 units sold out within 24 hours, and Trulieve anticipates another batch of Live Diamonds to become available for sale in February 2022. The launch strain, White Fire Alien, exhibits subtle, natural flavors with a retail price of $45 for 0.5 grams.

Trulieve Cannabis Corp (OTCMKTS:TCNNF) promulgates itself as a company that, through its subsidiary, Trulieve, Inc., engages in the cultivation, possession, distribution, and sale of medical cannabis in the United States.

It offers a suite of Trulieve branded products with approximately 125 SKUs, including nasal sprays, capsules, concentrates, syringes, and cannabis flower in tamper-proof containers for vaporizers, topical creams, tinctures, and vape cartridges. 

The company distributes its products to Trulieve branded stores (dispensaries) in Florida, as well as takes orders online and by phone for delivery.

According to company materials, “Trulieve is a vertically integrated “seed to sale” company and is the first and largest fully licensed medical cannabis company in the State of Florida. Trulieve cultivates and produces all of its products in-house and distributes those products to Trulieve branded stores (dispensaries) throughout the State of Florida, as well as directly to patients via home delivery. Trulieve is listed on the Canadian Securities Exchange under the symbol TRUL.”

As noted above, TCNNF just announced the launch of Live Diamonds by Muse™.

“Trulieve is excited to be Florida’s first and only dispensary to offer patients the benefits of high-quality cannabis concentrates produced through hydrocarbon extraction, especially Live Diamonds by Muse,” said Kim Rivers, CEO of Trulieve. “Due to the delicate and complex production process, this product will only be available in limited quantities, however we look forward to expanding patient access and continuing to deliver innovative products to our valued patient base here in Florida.”

The chart shows 4% tacked on to share pricing for the listing in the past month, a rally that has pushed up against longer standing distributive pressure in the stock. The situation may be worth watching. TCNNF is a stock with a past that has featured a litany of sudden rips to the upside. 

In addition, the name has seen interest climb, with an increase in recent trading volume of 0% over the long run average. 

Earning a current market cap value of $3.3 billion, TCNNF has a significant war chest ($270.6M) of cash on the books, which must be weighed relative to about $119.7M in total current liabilities. TCNNF is pulling in trailing 12-month revenues of $1B. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 55.5%. This may be a very interesting story and we will look forward to updating it again soon.