Trulieve Stock and the Cannabis Risk Problem
With a population of just over 21 million people, Florida is the third most populous state in the union (California and Texas take first and second place respectively). It’s no surprise to see Florida lead the nation in golf courses, considering it has the highest percentage of senior citizens in the nation with over one-fifth the population 65 and older. What do you get when you mix a bunch of old people with great weather and lots of golf? Apparently, a whole lot of medical problems that call for one of our favorite prescriptions – cannabis.
In our previous article on The Biggest Cannabis “Multi-State Operator” Stocks, we looked at how cannabis companies in the United States are taking shape. Since cannabis is illegal at a federal level, each state presents its own unique regulatory environment. Since cannabis businesses can’t operate across state lines in any way shape or form, what we’ve ended up with are companies that have a vertically integrated operation in each state they operate. (Vertically integrated means they grow the cannabis, process it, and sell it in their own dispensaries.) Today, we’re going to take a look at Trulieve (TRUL:CN), an $860 million vertically integrated cannabis company that’s also the first and largest medical marijuana corporation in the State of Florida with a dominant market share of around 65%. (Cannabis in Florida is still illegal for recreational use which is why so many people there suffer from glaucoma.)
