Marijuana Stocks: This Company Surged 600% Over 10 Months

As we’ve been discussing recently, the cannabis industry is experiencing a boom as of late, likely spurred on by the recent Democrat gains made in the Senate and Joe Biden’s ascendancy to the Presidency…

Given that Democrats are more favorable towards marijuana legalization than Republicans, in addition to Biden’s pledge to federally decriminalize cannabis in the U.S., 2021 is shaping up to be a great year for investors in cannabis.

The ETF known as the Horizons Marijuana Life Sciences Index (TSE:HMMJ)—which is considered by many to be the benchmark for the North American cannabis industry—is up over 55.68 on its six-month performance.

Many of the holdings within this ETF, such as Canopy Growth (CGC), Aphria (APHA) and Innovative Industrial Properties (IIPR) have enjoyed significant gains over the past half-year, however, one stock has reached all-time-highs after a steady climb since the beginning of the year.

Let’s take a look at this skyrocketing marijuana stock.

Trulieve (CSE:TRUL)

Headed by CEO Kim Rivers, Trulieve is a vertically-integrated “seed-to-sale” medicinal cannabis company with a growing network of dispensaries throughout the United States, most of which are situated in sunny Florida. Trulieve was the first company to sell smokeable and edible medical cannabis in the state of Florida, and with 70 of their 75 total dispensaries being in Florida, they are well known and are the first choice for many Floridian medical cannabis patients.

Trulieve’s operations span across 5 states, including Florida, California, Pennsylvania, Connecticut and Rhode Island, with operations starting in West Virginia in 2021. BDS Analytics estimates that…

Continue reading at BENZINGA.COM

 

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