Since it was launched in the market in 2015, Trulieve Cannabis has just gained more popularity. It has generated a huge amount of revenue, and its shareholders have filled up their pockets with money. As it is already at the pinnacle of its popularity in the coming years, it will be a big challenge for them to keep its momentum at the same pace this year.
Can it keep its progress?
Trulieve is surely holding the number one position in the industry of cannabis. It sells nebulizers & tropical, oral CBD, edibles, vape cartridges, concentrates, dried flowers, and many other CBD products in the market. They have around eighty-four stores in the six different states of the USA. Seventy-Nine of them are located in Florida. This company in different states provides home delivery of cannabis products. They have over sixty pot products with them.
In the last year, only this company has successfully increased its revenue up to 106% compared to last year. At the same time, the operating income has improved a lot for this cannabis company. This company has become too much successful within a very short time, and this is why many of their competitors have started trying their fortune in the various states of the US. So, if you consider the share of the Trulieve in the last two quarters of 2020, it has dropped 4% and 48%, respectively.
This year, this company is trying to expand its business in many other areas like Maryland and Pennsylvania. Especially in Pennsylvania, they have expanded their business significantly. On the other hand, they have also opened their dispensaries in Pittsburg. They have also successfully acquired cannabis dispensaries for just CBD cartridge in Philadelphia.
What to expect:
This year the company expects to improve its EBITDA and sales up to $365 million and $832.5 million, respectively. As a result, you will find their shares very much affordable and profitable in the market. Price to sale will be forwarded 5 times, whereas price to earnings will be forwarded up to 29 times.
As this company is now expanding their business in various other parts of the US, it is also expected that they will increase their sustainability in the market. If you are a marijuana investor, then the stock for Trulieve can be a very lucrative one for you.
Will it be correct to invest now?
From the beginning of this year, Trulieve maintains its business in the different other parts of the US except for Florida for just CBD cartridge. As the day progresses, they will be able to grow their business more and bring it to the next level. So, if you are thinking of purchasing the stock currently for this company, it is a very wise decision you are going to make.
It is expected that in the coming five to ten years, this company will expand a lot more as some of their competitors are also coming up in the market and it is going to give back solid revenue to all their shareholders because of their growing business revenue.