Trulieve Cannabis Opens Its 24th Dispensary in Florida


Nov. 20 2020, Updated 5:09 p.m. ET

New dispensary opens today

Today, Trulieve Cannabis (TRUL) (TCNNF) is opening a new dispensary in Clearwater, Florida. Apart from this dispensary, the company operates 23 others in the state. 

As its patient registry grows, Trulieve plans to open new dispensaries to meet growing demand. According to Florida’s Office of Medical Marijuana Use, the state has more than 190,000 registered medical marijuana patients. The Florida Department of Health estimates that Trulieve sells ~60%–70% of the state’s overall volumes.

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Patients can find a selection of THC and CBD products, which are offered in a variety of forms (including concentrates, ground flowers for vaporizing, topical creams, tinctures, and vaporizers), at Trulieve’s dispensaries. Apart from these dispensaries, the company also offers a home delivery service across the state.

In a statement, Kim Rivers, Trulieve Cannabis’s CEO, stated, “Trulieve is and always has been focused on the patients it serves and is consistently working to provide a great experience when they visit our dispensaries. This new, updated Clearwater location is larger, provides easier access to patients, and delivers an even more pleasant and comfortable experience to our patients. We will continue to provide patients with the same high-quality products and natural relief to which they are accustomed. We are confident that patients will enjoy the improved experience,” according to Cision.

Year-to-date stock performance

Trulieve has started 2019 on a strong note, with its stock rising 40.9% YTD (year-to-date) as of March 8. During the same period, Planet 13 Holdings (PLTH) (PLNHF), Anthus Capital Holdings (IAN) (ITHUF), and Wayland Group (WAYL) (MRRCF) have returned 20.1%, 21.8%, and 5.4%, respectively, YTD. The price of the Horizons Marijuana Life Sciences Index ETF (HMMJ) has risen 51.5% YTD.


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